Lom needs a board overhaul NOW!!!

Lom needs to get rid of its dead wood and start generating a positive return for shareholders!!! Miles Kennedy been has a director of Lom since 2008 -Lom shareholders have routinely seen the value of their shares wiped out while has has received his generous salary as a 'chairman' and rent from his former ownership of the company's head office at 34 Bagot Road.

Lom needs to appointment a new entrepreneurial chairman to restructure the company to start generating positive returns for long suffering shareholders. The acquisition and 'development' of the Merlin kimberlite operation needs to stop immediately!!! Based on Lom's track record (and the paltry success rate for the development of comparable mining operations) all we are going to see is more share holder losses and dilution for another one of Kennedy's follies (which includes suing Lom shareholders at the company's expense for no benefit to the company!!)

For an Australian perspective, the Brooking exploration appears to offer exceptional prospectivity for diamonds which could deliver exceptional results from a very modest exploration budget especially in the context of the sums that the company is proposing to spend at Merlin!!

As I have previously mentioned Lom needs to be broken into two separately listed entities- the main entity can house the African assets (Lulo, Mothae and Orapa). This would have its primary listing on the LSE and a secondary listings on the JSE and Angola Stock Exchange where a listing would greatly alleviate the problems that Lom is having with regard to the Angolan government e.g. the remittances of dividends from Lulo. Also having a significant Angolan shareholding would help re-rate the company across Africa. A LSE listing (especially on the main LSE board) would see a massive rerating of the Lom share price!!

A listing of the Australian assets (with a good exploration and development pipeline) would see a massive re-rating of the Australian listed entity!!

Lom's BOD needs to implement these ideas now in to eliminate further shareholder losses and dilution!!