My understanding is that Lulo alluvial/exploration is essentially self funding, though cashflow can be an issue, so there may not be much money in the bank. For it to have any profit you would need to cancel exploration which is a fundamental of the project. Not sure how many investors would be keen on just 40% from an alluvial mine in Angola with no growth, so don't see $100mill market cap.
Ann: Seven Lulo Diamonds Sell for A$28.3 Million in Tender, page-35
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