re: Ann: Raises $5.5M for Lulo Diamond Prjt /... I know what all the money is for because a while back I emailed miles to find out all associated costs at lulo.
He gave me details on costs such as wages materials parts security and employee numbers,but told me that atho the company is not obliged to announce or disclose such information that I should be carful what I say about the information on hotcopper.
Going by what I was told much of the funds raise will be to keep employee numbers to the maximum and equipment running all of the working day along with a increase in diesel costs due to a ramp up in the process of gravels and roads being built along the old cacuilo river terraces.
Employee numbers are around 70 but them numbers are cut back when funds are low,so most of the funds will be used to keep things moving along at a steady pace rather than a slow pace due to low funds.
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