LOM 7.41% 5.0¢ lucapa diamond company limited

Just vote no!!!, page-48

  1. 9,397 Posts.
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    That's right, we don't know enough about that, and it's a weakness in the reporting system that a company doesn't have to give those details, under the existing requirements.
    The only pointer we've had, apart from common sense that you don't keep an activity going that isn't covering its running costs, was when SW said at the AGM that the alluvial operation wouldn't work at the industry average return per carat (they wouldn't bother), but DOES work at OUR average price per carat and cost of processing. Unfortunately, that leaves such a wide range of possibilities as to be pretty much meaningless, but SW also said that LOM would not be on the verge of drill testing kimberlites without the contribution from the alluvials behind it, it's the alluvial money that has enabled us to make progress so fast.
    Anyway, I'm not fretting about it, because my gut feeling is that it's OK - that's all we can go on, are we comfortable about it - I am, ATM.
    B22.
 
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