Like many holders I reacted to today's news with initial alarm, especially due to today being the first time in over a year where my average buy price is above the current shareprice.
But the more I think about it I think the market has vastly overreacted to this news, just like it did when they released their first exploration results on 08/11/2010. The shareprice hardly bumped on the news of the possible Chinese deal, then sinks like a stone when the deal is scrapped? That makes little sense, it's like a deal which noone knew about was already factored into the shareprice.
The irony is it could be that the sinking shareprice due to the turmoil in the US and Europe which sunk the deal and sent the SP even lower. If LOM were negotiating on a certain price based on the current SP and then the SP sunk, what possible motivation could the Chinese have to continue at that price?
It will be interesting to see LOM's next play, they couldn't possibly repeat what happened in November last year, surely. Bad news sank the price, Miles bought in, then 4 days later news of the 22ct diamond hit. If history repeats things will look very very fishy.
I learnt my lesson last time, I ended up selling a good proportion at 3.7c and bought back in at 5.7 when the 22ct diamond was found. Now those prices look like a distant memory.
In fact, the journey of the LOM shareprice makes little to no sense overall. The price was at its peak before any diamonds were ever found. And now, the price is back to pre-Schmidtsdrift levels, despite the fact that
- No Schmidtsdrift millstone around our necks
- Exploration has begun and we now have confirmed diamond ground
- This ground has been proven to contain big stones, in some proportion
- This ground has been proven to contain fancy stones, in some proportion
- We now have the DMS/Flowsort
The progress made since those days is considerable, yet the shareprice looks hardly different. Bizzare.
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Last
4.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.05M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 220 | 4.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.7¢ | 13956 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 220 | 0.046 |
1 | 33207 | 0.044 |
1 | 10182 | 0.043 |
1 | 214567 | 0.042 |
1 | 100000 | 0.041 |
Price($) | Vol. | No. |
---|---|---|
0.050 | 3600 | 1 |
0.053 | 100000 | 1 |
0.055 | 30000 | 1 |
0.062 | 120000 | 1 |
0.065 | 80000 | 2 |
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