Yes @bungy234, it is great to see some real money beginning to come back to LOM, 2022 has seen the largest repatriation of funds that LOM has been contributing to develop the Lulo Project.
IMO if the Board had not been able to achieve some real progress here, Mr Market would continue his disdain for our battler. The other problem for LOM is the 40% holding it has in Lulo and the apparent inability of the Board to strike a more equitable agreement with the Angolan Gov't and other Project stakeholders.
It is unfortunate a fairer deal has not been able to be reached, and quite likely the reason LOM has diversified at Mothae and Merlin, as has been discussed here previously.
However all that aside, the initial results from L164 together with the funds now are a very welcome breath of fresh air, and the funds can be put to very good use paying down debt and financing ongoing works at Merlin.
I don't even really follow too closely here lately, but have a question from the Presentation today, on page 17 of the Pres > the bottom bullet under Lulo > it states: "Majority stake work stream for kimberlite", is anybody able to explain to me what this means, i.e. does LOM have a larger stake in any kimberlite discovery than what it has in alluvials?
LOM Price at posting:
5.2¢ Sentiment: None Disclosure: Held
