Stock piling course material ready to process during the wet season to keep though put up & pull a few BIG 2A's.
2x yardage for roughly 2x increase in diamond recovery.
Wet front end installed = easier processing during wet season.
A$14.3Mil in the bank + A$2.7Mil in JV acc + approx A$1.2Mil in diamonds (assuming A$1000/ct, which is a bit conservative).
Have spent big on ramp up & another $AUD5.2Mil to be spent this quarter.
Best bit - looks like 3 year extension to Kimbo license just has to be rubber stamped now
Getting to be a serious sized operation with good cash flow from alluvials.
Looks good to me. Keep digging, drilling & stock piling ......
Looking forward to some more positive announcements during this quarter.
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Ann: Quarterly Activities Report-LOM.AX, page-21
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