Fair enough, Herr Joe. It’s true that many LOM shareholders like to think of the company as a diamond miner and it suits the promoters to portray her as such. The reality is, right now, that the act of recovering (mining) alluvial diamonds at Lulo won’t produce anything for shareholders, because all the proceeds are being redirected towards exploration and administration expenses. That’s not going to change until a major discovery is made, all we are doing is taking a view on how likely success will be, success being finding a commercial kimberlite before the alluvials start to peter out.
I don’t view LOM as a viable business, clearly it isn’t, it IS a totally speculative venture with an uncertain outcome, but adding Mothae and Brooking, as it turns out, has given the company extra chances to succeed, Orapa is an unknown.
Of course, I am happy with what LOM is doing and I’m not going anywhere, my earlier comment about the 23c raising was just a statement of fact, I know the BoD was sensible to do it, and directing the funds at Brooking will kick-start what is potentially a massive success story, we won’t have to wait long to get early indications from there. In conclusion, this stock is a stock for high risk players, the risk being somewhat mitigated by the alluvial operation, but still a high risk place to be. So far she hasn’t let us down. Will the next shovelful of dirt contain another 404er, or just be another shovelful of dirt? You can’t turn away!
B22.
LOM Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
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