LOM 0.00% 6.7¢ lucapa diamond company limited

Is there a CR?, page-57

  1. 21,239 Posts.
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    you know, someone taunted me a week or so ago when the sp was supposed to hit 50c because of a mining licence (par for the course in any other country, but a big deal in "Angolia" apparently) - reminding me that LOM didn't meet my pre-consolidation target. I was tempted to reply but thought what's the point? I will make this short and sweet.....

    LOM's issuing of 80 million near free options with the consolidation move was a stroke of genius. There was absolutely no need to issue those options but it was a masterstroke to support the sp once the consolidation had been executed. Those free options have supported the FPO's ever since. Then there was the Yankee roadshow, not a bad ploy, the Yanks know little about anything outside of the US, but they are suckers for a diamond story and once again it added to the general sp support. But at the end of the day the market being the great leveller it is, sees through BS and you're now seeing the slow grind back to reality.

    Good news of course about the various licences, but they are a licence to 'look for and mine' - they don't come with any guarantee of actually finding anything.... did anyone ever think of that? and what LOM has so far found will be lucky to keep LOM afloat, LOM needs to be hauling bucketfuls of sparklers out of the ground before it can make any claim about being a serious diamond miner.
    .
    speaking about actual mining, who's managing and running the show on the ground in Angolia? I know it isn't Kennedy. Has LOM got a full time representative overseeing the entire worksite? I've never seen any detailed work plan from LOM. How many on-the-ground people are in its workforce? what are the typical production operating hours? Who is looking after LOM's interests on a daily basis?

    so sp wise it's really getting close to back to square one, not much different from one cent in the old money. I hope the faithful will be rewarded one day, but it all reads like the same old, same old so far. I've seen little that would change my view of this stock - though if it fell to reasonable levels another punt might be in order....

    GLTA
 
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