Couldn't agree more. The gazetting is extremely important to the security of the operation.
When Lucapa announced the 35 year alluvial licence on 26/11/2014 it was noted that gazetting is a statutory requirement for the agreements.
Think back to 31/03/2015 when when Lucapa announced that the $15 Million Bridge facility would remain in place for three months to enable Lucapa to complete the gazetting to provide the necessary in-country security. Lucapa was unable to complete the Gazetting within the time frame and we all know what happened to the $15 Million bridge facility.
18 months after the alluvial mining licence was announced and we still have no gazetting....I wonder why?
Could it have anything to do with the fact that the existing kimberlite exploration licence expires in May 2016?
Wouldn't it be perfect timing to grant a Kimberlite mining license and gazetting for both at the same time? Especially considering we could be in a position to mine L259 soon if drill results show what we're all expecting.
The stars are really starting to align and damn they're sparkling!
LOM Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
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