The only winner out of Lucapa's investment in Mothae has been the Lesotho government.
No risk, free carried, and repaid and contributed nothing - except for the unhelpful tax reform that to my knowledge was never formally enacted or withdrawn.
But more fool Lucapa for entering into such a dud transaction under those commercial terms in the first place.
Time to move on and focus on Lulo.
Ann: Lucapa completes divestment of Mothae Mine stake, page-16
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