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4.35%

6.6¢ lucapa diamond company limited

Ann: Record 404 Carat Diamond Recovered at Lulo, Angola, page-237

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1,027 Posts.

19/02/16

09:53

Post #: 17061641
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Originally posted by amol7 ↑

"He added that Endiama and the Ministry of Geology and Mines are examining so that the value of the sale can revert directly to the State Budget.

"That is, the part that will fit to Endiama, we will not reinvest it in Lulo, but we will forward it directly to the State Budget," he said."

Izlush:

Thanks for your post.
I think this is the first indication that Endiama intend to allow distributions from the JV to the partners in Lulo.
In which case Lucapa will receive 70% of the surplus money (50% loan recovery + 40% of the 50% balance) up to about $120m.

I think this is an important step forward in the progression of the JV.
Let's hope that is correct and the next step is enabling LOM to increase it's equity to 50%. No doubt following the 404 ct find the price of the additional equity will no doubt cost more than previously.

Brilliant bit of information Izlush.........

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I hope they mean their share of the est $18m euros! im sure its been said on here somewhere but do the other partners contribute at all or is it only LOM shareholders that get diluted over the years to raise cash and fund the project? would love to know how much is in the JV account. would of thought ASX/ASIC would need that disclosed

LOM Price at posting: 38.0¢ Sentiment: Hold Disclosure: Held
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