The Mothae strategy was an attempt to show diversification of...

The Mothae strategy was an attempt to show diversification of assets before a proposed listing on the AIM London exchange. However, they changed their mind and canceled the AIM listing so the whole strategy looks poorly planned.

And if you're going to diversify with scarce finances, it would be better to be conservative and acquire a mine that has solid numbers instead of gambling on a mine where the JORC numbers are marginal. Of course, it's hard to find a good economic kimberlite mine for sale because they tend to be kept and developed by their owners, not sold off on the cheap.

I also found the timing of the Mothae acquisition to be potentially reactionary as it happened shortly around the time of the bad results from L259. I always wondered whether it was a knee-jerk reaction to these unfavourable results as in "that kimberlite result is a downer, let's just buy one".

So even with the replicated current improved Angola situation in 2016, according to LOM's statements, they would have still pursued Mothae in theory as the goal back then was diversification for AIM listing.