"I am not full bottle on this but I think if the options are not...

"I am not full bottle on this but I think if the options are not converted there is no other money going into the ozzie bank accounts which is where the directors etc are payed out of. I think the options have to be convertered or we will be looking for funds again in the future. Maybe one of the more clued up pople here can shed some light on this. After gazetting etc this may change."

Tington:
Substantially correct.
4 significant supporters exercised 8m 30c opns last week to raise $2.4m. This will all stay with the co. as the JV will now have plenty of capital. The remaining 59m 30c opns will raise $18m if exercised and will stay in LOM's account.
The JV has $3m in the bank, the Feb sale if the 404 ct diamond is included plus the diamonds recovered since mid-Jan from B8 and B6.........my guess is approx. $40m AUD from the sale.

Quite a healthy situation:
LOM .......$20m
JV............$43m (plus max income from April sat $10 per month).

Every chance this may trigger an agreement to repatriate income from the JV surplus of which LOM will receive 70% of the next $100m. 50% recovery of debt and 40% of the JV's remaining 50% surplus.