The year started with so much promise, largest diamond ever mined in Angola, another $9.6m from diamond sales, a kimberlite to be proved up, Xray detection system, drill on site. Here we are 6 months later and what has been achieved, nothing except some increased production to above 20000 tons. A year ago they were postulating of increasing production to 40000 tons.
This share has excellent prospects but because of where it is, it is going to take a lot longer than I first thought. So I am going to decrease my holding to a long term stake instead of holding about 70% LOM.
LOM Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
