LOM 2.33% 4.2¢ lucapa diamond company limited

Most frustrating. I understand this is Angola, but everything is...

  1. 320 Posts.
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    Most frustrating. I understand this is Angola, but everything is moving at a snails pace. Are management really pushing hard to make the sale happen? I have to agree with Pezza on this, why were we not informed about the damage to the DMS? The only real diamond of significance was recovered from garampeiros - maybe we should employ them to find diamonds. At the start of this year, I had expected real progress to be made by now; yes the aeromagentic survey has been completed and they finally have the DMS onsite. The aeromagnetic survey has provided more drilling locations, so the timeframe gets shifted out. The DMS is damaged and won't be operational until 4th quarter; how long until we see results from this? Drilling at a number of locations has produced no diamonds, or certainly nothing of significance.

    I will continue to hold, because I believe this tenement has potential, but I am seriously questioning the management of this company, or at least shining the spotlight on it. IF the management team is no good, and I reserve judgement at this time, directors acquiring shares means little. All IMO, but if they want to keep shareholders on side, a higher level of transparency is required, and I would like to see a definitive timeline whereby if a targeted activity will not be achieved in time, we are given notice and a GOOD reason as to why this milestone has not been achieved is provided. I want to remain positive, perhaps someone else can offer a more positive spin on this quarterly.
 
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