Pre Takeoff !, page-3

I am assuming what is holding potential investors back reading the general comments on this site is the question

"Where are the Diamond Sale proceeds"

These are personal observations not advice DYOR.

Although I do rate the stock as a buy I have a sufficient holding in the company and will not be acquiring more.

I anticipate the production reports with June 1/4ly to disclose another significant number of Diamond discoveries. This is based on the current rate of available throughput as disclosed in the March 2018 1/4ly, it is simple to analysis the current tph by existing machine together with the increased tph with the additional machines. Directors have disclosed that there is one full shift processing with the intention to add another a night shift.

If you look you can find the historical production from the mine which will give you an estimated ct per t of material processed.

Now the big question where are the sales proceeds.

1. Read the December 2017 1/2y

(a)"the directors note that since balance date the Company...has received the proceeds from the sale of part of the diamond stock and the proceeds from the sale of further diamonds are expected to be received shortly"
(b)"The principle business of the group is the exploration and development of diamond projects in Australia" ie. the company is not in the business of mining or generating revenue from the sale of Diamonds which are a by-product of development expenditure.

2. Review Development Expenditure (Net of by product offsets)

6 Months 31.12.16 $4,049,918
6 Months 30.6.17 $4,700,819
6 Months 31.12.17 $1,534,741
6 Months 30.6.18 $????

Again DYOR.