Yes running costs will be increasing with new staff and...

Yes running costs will be increasing with new staff and equipment but so will revenue with a higher output of diamonds.

You mentioned the words of our MD, now mention what else the MD said in relation to the need for more capital and what has happened since. Selectively picking information to suit your argument whilst ignoring other events that influence that information is not a good look.

The words of our MD as printed in paydirt in August this year

“The need for another capital raising is
dependent on the timing of the licence. If we
don’t get the licence until December we won’t
be able to start mining until next April because
of the impending monsoon season, so there
may be the need to raise more funds. But we
are well funded at the moment. We have more
than $6 million in the treasury and a burn rate
of $500,000 a month and the sales from the
exploration discoveries are roughly covering
that burn rate.”



Now have you seen any announcements after this about additional earth moving fleet, ease of access to gravels close to DMS during wet season, options being taken up, 5 mil in the bank as reported recently, and an ever increasing diamond inventory that is at over 800ct (the only valued portion of which is 385ct @ $477,000, with the rest yet to be assessed). If you look elsewhere it also says operations are slowed during the wet season, not stopped. You may also have also seen another announcement that referred to allowable working hours, it seems LOM are now allowed to work more hours a day now that they have a licence. Oh and they can keep targeting the one area too if it is profitable.

So I would say that you are scaremongering because you hone into a snippet of information out of a paragraph (ignoring the fact that it also said in that paragraph LOM were well funded with a manageable burn rate) that was printed 3 months ago and use that as the basis of an argument without taking into account any relevant information that has come to hand since. I would hardly say that is a balanced assessment.

GLTA and DYOR