Harm. I agree with you in regards to the income generated from diamond sales covering the costs of running the mine, the 7M addition recently was a surprise. I did ask the company, the response was pretty much they will only report as per ASIC's requirements as they currently do on the JV account. Thus we will probably never know what the balance sheet looks like in the JV. I personally don't like that response.
But on that, when you say on-going costs, theres initial costs and ongoing costs, as they are actively exploring new alluvial fields and mining a vast area which requires expensive infrastructure, bridges, roads, etc... These are initial costs, so mining will get cheaper and more efficient as we go. But we don't have access to the JV, so we don't know exactly.
LOM Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
