I'm still here. I've taken a hair cut on some shares that I...

I'm still here. I've taken a hair cut on some shares that I bought at 41cents and a small parcel I bought at 50cents and I'm still holding half of the shares that I bought at 22cents and 18cents, the other half I sold at 36cents to persevere some profits. Overall my remaining holding is now just barely green.

When we were trading at about 40cents there were some here discussing value and so I did some research on the Letseng diamond mine in Lesotho which could be considered an aspirational model for Lucapa. My conclusion was that based on the market value of Letseng (as best as I could determine it) a $100 million value for LOM is probably overvaluing the company for the stage its at.

I didn't want to share my research at the time as I didn't want to contribute to negative sentiment on the company. I think I saved my notes so I'll try and dig out what I found and publish my thoughts on this thread sometime this week as I'd say the current pull back must be approaching an end soon enough. I've also been on holidays in Singapore so haven't been able to focus on my stocks quite so much.

Got to say the lack of news on diamond finds and progress on the pipe exploration is a bit disappointing and not helping the share price.

I'm still a holder but not so starry eyed anymore. I thought a MC of $300 million was easily achievable but going by Letseng and the weak trading conditions for diamonds and diamond stocks it will be a lot hard than some people might think. We really need to uncover something very very special.

Eshmun