I don't think we can conclude that LOM has been looking in the wrong place. The geo is experienced, highly qualified and has +4 years of local knowledge on the ground there at Lulo.
There's no guarantee, but I'm confident that at worse, 5% of the priority targets will yield economic pipes. That's equivalent to 1 in 20, so by the time they have tested 20 targets, the probability of a big hit should be well in our favour. Counting down from our first 20, we're currently at 16. I'm sure that Miles and Coy would be thinking along similar lines - well I hope so!
LOM Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
