Just doing some sums (theoretical of course) on LOM's liquidity position, that makes their situation very interesting and powerful:
Lulo JV :
had approx. $3m in the bank
Should get $8-10m from Feb sales
Maybe the 404 ct could be say $25m ??
Total: $30-40m (+ increasing production for the next 9 mths.)
LOM:
Had $1m in the bank
Raised $2.4m from 30c opns exercise
Should receive further $18m from 30c opns
Total: $21m
It looks like the group (JV + LOM)
Has a combined cash source of $50m
Considering LOM will receive 70% of all early distributions from the JV.....it now looks like it access to funds of about $45m.
No more C/R's until a kimberlite warrants it.
Best of all the BOD and Management can get on with job of running the company without SH and capital raising issues deflecting their attention on a regular basis
Lucapa Funds
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