My understanding of how dividends are to be distributed is the same as Bungy has articulated. But since LOM has been incorporated under the SML banner, no dividends have been paid, so we remain in the dark as to how LOM will treat them.
Any dividend received in the next few weeks will need to be immediately reinvested or LOM will be forced to consider other methods of raising finance.
Like all of you (except maybe JD) I'm excited about what appears to be possible in Angola.
The one remaining piece of the puzzle (for me) is obtaining clarity on the regularity of dividends and how the financial future of LOM can be secured without living on the edge.
At the end of the day, our investment is in LOM, not SML.
