Yesterday we had the March quarterly and despite the wet season we managed to recover 1317 carats including eight over 10 carats ,several of them Type 11a stones and generally with some nice sharp edges indicating very little movement from source
There is no other diamond miner finding Type 11a stones as regularly as we have been doing and we are only in the initial phase of alluvial miming on a huge province
Remember only 3% of stones recovered worldwide are Type 11a
The announcement called them "special"and who could argue with that , just look at that beautiful pure white
with a superb diamond shape,very little cutting and facetting here, plus the news that we should soon be cash flow positive
I expected the market to take notice and the SP to gain a few cents
But once again as with the previous three positive announcements including the granting of a 35 year alluvial mining licence the market has not been impressed and on all occasions the SP has fallen........Why?
It is simply something I cannot fathom out,as I have said often before, and I imagine the Directors are at a loss to understand also
We have two announcements coming up,the sale of a plus 1500 carat parcel of diamonds and we should soon hear of completion of the loan facility
How will the market react I wonder,lack of interest again?
When is the market going to take notice of Lucapa
LOM Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
