I don't get it, they have all these special diamonds, that are being sold every month at auction right?
sold ROUGH, and management are considering cutting them before auction, to increase their value, and to them this is a future plan?
Selling rough diamonds is like selling an unrenovated house.
Its like I have a mansion, but its terrible on the inside, but I ld still get say $5million for it based on land value alone, but if I spent $500,000 on renovating it, I would probably get $7million+
why wouldn't I do it?
Why sell a rough diamond for $1million, when you could spend $50,000 getting it professionally cut, and selling it for $3million+
LOM Price at posting:
32.0¢ Sentiment: Hold Disclosure: Held
