LOM (ASX) Update

Originally posted by dazzaa ↑

God this is going to take ages to type and its on an old comp that does'nt even have an updated version of windows ,one person says the spelling is bad i will freddy krugar you in your sleep.

Q1.what is the criteria under which lom is able to increase its share in the lulo project and expansion of further lease.
A1.There is none as set by the new mining code and Lucapa does not intend to look for or explore new lease north or south of current lease.Short and sweet we have 40 pipes and are confident that for the next 8 years we will or have no reason to expand on that.

Q2.What is the exploraton/production plan going forward ,as what are we doing current and towards short term approach.
A2.Big eye opener this one:That driller cost between $400-450,000 a month to hire and drill...yes as the seagulls are saying fark,fark...LoM has the capability to now excavate soley the full 40 pipes to proove up,because of the fact the micro diamonds are actually getting found on suface as normal kimbilite exploration you need to go deep,the land is not soft at all,the conditions just enable LOM to save a whole of money by this,in context Debeers spent 190 million last year and do not have anything,no license,no lease nothing so they are very much behind the eight ball in consideration to LOM and having spent 190 to our $40 million well,its here that maybe there are avenues to short cutting its entry into Angola ,i cant see them spending anymore on exploration as LOM is what M/C value.

Q3.Why so many T/H
A3..Under Australian asic codes anything found to deem as potential infomation to sensetive info must be released,so any diamond found large enough must go into T/H or be reported to shareholders immediatley.
regardless if or how many in dated form are done,so its just as easy at this point to go into a T/H every week to a degree..painfull that one.

Q4.The dogs balls....yes the alluvial license which at this point is the dogs balls its everything.
A4.The license was lodged some time ago as i said way back when Miles was discussing all the facts with the minister every day in trying to get an update to the req of that KIMBO exploration license.
It is lodged and all requirments have been met .It is now in the hands of Endima as they wear a double hat to this as both a buisness partner and the controlling body with the govt.We are on a daily basis to recieving the license and full time to that was given by Endima in up to 6 months we are at the 6 months NOW.(suck it in JD,just say sorry)

Q5.Time limits to full commercial viability of Kimbilite.
A5.Your not going to like this one ....7 years and not really any sooner it normally under discovery to mining industry standard is 8 years so miles expressed we should get there in 7...

Q6.Dilution in that time period
A6.It is managments opinon that dilution of current shares on issue will not be expand at all and the alluvial program will fully fund all exploration costs and money in bank (hang on to shares)

Q7 expansion of DMS and capability to add on TPH
A7.Our currentthey are soley built to run at 50 tph but with good soil and conditions they can run up to 80 tph,so expect very slow rates in wet season and higher in dry,Miles does not want to run the guts out of it so expect 50 tph.

Personal notes: the time lines were dissapointing for full mine but the alluvial was a huge bonus and the $40 million will not be used for futher lease more inlined with running costs and so on.
Chrissy sounds about right for s/p multiples as the alluvial program will be huge as big as a kimbo finds in Mileses oponion so with more pipes getting discoverd monthly, the gains will be seen sooner in the s/p than the actual timelines in full mining.Theres a good chance that once processing is finshed to proove these pipes as type 2a and high quality gem pipes its the time to get out then and not wait for full mining.

Anyway there you go....good luck and alluvial license is on its way,just in Angola time
DMS can not expand at all,

Expand

Dearest Dazza,

Just wanted to once again like many others, thank you for your hard work and willingness to help the lom thread regardless of the fact the vast majority of people here don't personally know each other. Also the countless hours you've spent in the past chasing Mark for a phone call and posting your findings for us and so on... legend.

Great comments, i was a bit shattered by the 7 year plan for a commericial diamond mine but I accept that as a relatively diamond industry newbie

Future looks very promising, will be extremely interested to look at this thread in 7 years and see who is still loyal.

Thanks again Dazza.

P.S I miss Bungy!

GLTA

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(20min delay)
Last 5.5¢		Change 0.001(1.85%)		Mkt cap ! $15.95M

Open	High	Low	Value	Volume
5.5¢	5.5¢	5.4¢	$3.723K	67.87K

Dearest Dazza, Just wanted to once again like many others, thank...

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