LOM (ASX) Gimme an Announcement Now!

Originally posted by VoiceofReason ↑

A lot of talk regarding how management have handled announcements/media releases/investor presentations etc during the past few months. As always opinion is divided which I guess is good and promotes healthy debate (well, most of the time).

There are those who feel that what has been released is good and paints a rosy picture whilst others (maybe myself at times) think the flow of information is "erratic" - for want of a better word.

The problem lies with when certain information has been released to the market. This was especially the case when Miles became overly optimistic during the recent conference. Everyone then expected an announcement within days regarding a commercial kimberlite. As we all know that has yet to happen and seems a way off yet.

So what did he mean? Did he stick his neck out? Does he regret saying what he said? Was it just a ploy to add value for the new investors who had just forked out a lot of money?

You would have to think there is something in it as why else would you say anything that positive in the first place? After all if eventually nothing were found and these new "sophisticated investors" had just made a killing with their options as the share price briefly skyrocketed I reckon there would be questions asked by the authorities.

I am not sure what he can say without absolute proof in place but it seems he sailed "close to the wind" so to speak.

My view is that they must be relatively confident about what they may have. It is just a matter of how long it takes to prove it beyond all reasonable doubt. In the meantime - we await.

I remember asking a few weeks ago about how long would it take to prove commerciality and after that how long and at what cost to actually get a full scale operation up and running. The silence was deafening or at the very lease the answers were very grey, after which the forum focus meandered off in all directions -I presume no-one really has any idea as to what to expect in this regard.

So why has the price dropped so much? Maybe we are expecting too much, too soon. Maybe some did sell their cheap options. Maybe the impatient were, well impatient and thought a quick kill was on in a few days and lost........patience.

I assume that if the alluvial mining continues to ramp up and produce plenty of good quality diamonds then our cashflow will improve and more investors will sit up and take notice. Let's face it the alluvial mining needs to not only pay for itself, but also pay for the entire operation/company to run. In that way there is no need for further capital raisings to take place. Maybe it is a different story should a massive kimberlite be found, then they will need a major injection of cash or a partner to get things up and running.

Just some thoughts (plenty more but not enough time)
Do you own research etc etc and stick to your guns.................

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Hi V,O,R
Good post , i asked the same questions to management a few weeks ago .
Obviously they could not give a time frame , but i asked weather we are looking at years to prove it , or months ,weeks to which i was told not years , months maybe but then again it could be next week .
So what i took from the conversation is we havnt got that long to wait until we find out what we are all waiting for ,months at the most .
To get to mining the diamonds from the kimberlite well that would take years , but long before then we would have been taken over IMO , so it is irrelevant again IMO .

glta

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Last 6.7¢		Change 0.000(0.00%)		Mkt cap ! $19.43M

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