Yes time to move on to the next cap raise with free options.
At least LOM can now pay off the loan and make the final Mothae mine acquisition payment.
A little left over for some exploration and drilling at Brooking and Botswana and corporate costs are now covered until mid next year.
Oh that's right what about the development of the Mothae mine,where is that money coming from?
Well not much will be coming from the Lulo Alluvial diamond mining operation as expansions and that 270 person workforce is going to suck the joint venture account dry due to a mining cost that is way higher than it should be.
Once block 6 and 8 is mined out this company may find itself in a world of financial pain.
The company better announce that a Kimberlite bulk sample site has been identified within the next 3 months.
IM seriously starting to lose my patience with this company and there abilities.
LOM Price at posting:
27.0¢ Sentiment: None Disclosure: Held
