LULO PARTNERS DECLARE US$8M DIVIDEND/ LOAN REPAYMENT- Lulo partners to receive US$4 million in dividends – US$1.6m attributable to Lucapa- Lucapa to receive US$4 million repayment of investment loanLucapa Diamond Company Limited (ASX: LOM) (“Lucapa” or “the Company”), Empresa Nacional deDiamantes E.P. (“Endiama”) and Rosas & Petalas (“the partners”), are pleased to announce thatduring the General Assembly of Sociedade Mineira Do Lulo (“SML”), the partners resolved to declarean US$8 million distribution and loan repayment.The US$8 million declaration by SML comprises:• A US$4 million distribution to the Lulo partners, of which Lucapa will receive US$1.6 millionin line with its 40% interest in SML; and• A US$4 million loan repayment to Lucapa.The US$8 million will be paid from the cash reserves of SML, which operates the Lulo alluvial mine,the world’s highest US$ per carat alluvial production. The Lulo diamond mine has been producingcommercial run of mine diamonds since 2015 and now employs 390 workers and contractors, 87% ofwhom are Angolan nationals.The latest declaration from SML follows an US$8 million loan repayment and distribution declaredto Lucapa and its partners in March 2017 (Refer ASX announcement 8 March 2017). This marks thethird consecutive year that a distribution has been made by Lulo.
Ann, many Partners ,whos ,who,
Best i can understand, LOM, 1.6 mil, plus 4 mil off their loan, rest of or origin of the 8mil ? don't understand maybe you know how it all works.
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