Nothing wrong with the announcement other than the amount as it will not be enough for Lucapa.
If the completion of the Mothae mine acquisition was to happen over the next week the share price would tank as that would be the clock counting down to a cap raise or cheap placement with dilution free options.
The share price is looking more likely to be 30 cents in a few weeks or months rather than over 40 cents.
The best part of todays announcement is the fact Lucapa is getting 70% as this shows that the arrangement is being honoured.
LOM Price at posting:
38.0¢ Sentiment: None Disclosure: Held
