got excited this morning when reading a distribution was on the cards, only to find the previous 2 quarterlies said the exact same thing...
Can someone explain the USD 14.1M cash balance for SML... Since the inception of SML in May'16, USD $27.9m has been quoted in alluvial diamond sales (see the quarterlies), where's the other $13.8 seeing as no distributions have been made. Seems SML's cash balance only increases by half of the sales proceeds.
Also there's about AUD$51m in sales prior to the inception of SML (including the 404ct), so who's holding the cash from these sales?
LOM Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
