lum, page-47

re: lum. what exactly is the perrill? Hi Mickeboy,

That was a good response as lunatic said. I am sure lunactic will put in a more thorough respose than me.

I guess some people are underestimating just how bad the management is. Poor management is precisely why it is perrill. One stuff up after another. This current event looks like it will be no different. Their unreliability are why the sp is where it is and why there is no enthusiasm in the company right now. The latest episode with Turkey and the news that I think you released yesterday about them going over the numbers are yet more examples of their unreliability. You can't say news by 14th and then say we will talk to them on the 16th. Maybe I am thinking about it wrong. Come to think of it, while I am thinking out loud, I might be jumping the gun there.

Regardless, the management have consistently mis-represented the situation, much like used car salesmen and politicians, and they have repreatedly stuffed up deals. The fact that their previous partners were not reliable is a reflection on LUM. Especially because it has happened more than once.
Now if they are able to consistenty mis-represent facts and lie about their project status to meaningless shareholders like all those of us, does that give you any confidence in their abilities to deal with clientelle?

They have some cash in the bank and no debt, as you say. Thats the only good news that I can see. When I spoke to them they said they had only two avenues for financing - do you see ho they cannot be consistent with anything? How do they expect to gain trust? They can't do a SPP without further approval from the next agm. (I hope there are plenty of people there who have not forgotten). So that leaves a loan, or the strategic partnership you mentioned - if we include a third option.

My main point is that good management accounts for 90% of the success. If they were serious about a new CEO thet would have done so by now. You are right - a more sophisticated CEO would have avoided this mess. But they were not serious about getting one. The fact that they announce such things as the MD stepping down and don't act on it shows how flippant they are and how inept (or unsincere) they are on acting on their own statements.

Debt free or not, poor management will always be the death of a company. And these guys seammed to have known when to sell their stock and take their profits while leaving the shareholders holding values to shrink while they continued making empty promises. History repeats.

You should tell them what you think they should do for funding arrangement and see what the say to you. If you choose to do so I wish you luck.

If 4ts ends up being a goer, it will represent the turning point you are talking about. But right now at this moment I don't trust them. I have no faith that they will come through witha favourable announcement, or an announcement at all for that matter. I made a similar mistake to ICuRpoint (Spelling). I don't want to loose more on them. If they trun it around I will consider getting back in.

From a technical point of view they are at their last support level (similar price as a couple of months ago) before breaking down to 9c and lower. I see a descending triangle pattern which, to my knowledge, usually break downwards.