LOM, LUCAPA DIAMOND COMPANY LIMITED

[arty]

First diamonds presented from Mothae, up to 6.6ct. A good start
https://www.asx.com.au/asx/statistics/displ...;idsId=01949500

[arty]

Looking Bullish. I'm on and try to accumulate some more.

[uniden]

In Reply To: blacksheep's post @ Jul 13 2017, 07:55 PM

This is what I posted on Africa in 2008.

###

This post is not about CVI, it is about West Africa. As some of you here are pinning your hopes on making money from West Africa, you should also look at the other side of the coin. You have ONLY two ways to do business in West Africa.
One is to find a good mate who you believe has good contacts in the government. Now as long as you have money (they like $US best) you will be told that things are starting to go your way, a hundred grand here, a hundred grand there, this works well until it seems that you are running out of money, then with one stroke of a pen, you will find that the minister that you're dealing with has been moved on and all your good work has been undone, (no money back guarantees here mate). To back this up look at the number of mergers that have failed/faded from back door wheeling and dealing, it has been going on for years. Remember, this is the home of the INTERNET scams.
Now the second way to do business is to do what the Chinese, Korean, Japanese, and some Middle Eastern countries do, and that is to spend any thing from half billion, to one billion $US on building infrastructure ie roads/rail/schools/ports, they then wait until the GOVERNMENT decides to issue the permits, you then find out who has been lucky and who missed out.###

This is the bit that Africa is known for.

###this works well until it seems that you are running out of money, then with one stroke of a pen, you will find that the minister that you're dealing with has been moved on and all your good work has been undone, (no money back guarantees here mate)###

[blacksheep]

In Reply To: uniden's post @ Jul 13 2017, 07:10 PM

The chart is not my main concern with this stock - it's more about the country LOM is operating in - Angola,

I still recall Pierpoints commentary on another ASX listed stock operating in that neck of the woods - Hot Prospects That Burned Pockets - not sure it's any better today.

http://www.pierpont.com.au/article.php?Hot...ned-Pockets-545

Angola: Sub-Saharan Africa’s third-biggest economy, after Nigeria and South Africa, the oil-dependent country may have more debt than it’s disclosed, according to Ashbourne. “It has a struggling economy, an over-valued currency, and large public and private debt loads,” he said. “And given Angola’s opaque -- and at times overtly secretive -- government, it’s also the country most likely to spring a Mozambique-style surprise by announcing that things are much worse than the official figures suggest.”

https://www.bloomberg.com/news/articles/201...-ask-who-s-next

[uniden]

In Reply To: blacksheep's post @ Jul 13 2017, 04:09 PM

LOM is ticking some boxes, but look at the chart, would not be investing in this until you see the red line turn for the better, looking at the chart it looks real bad for LOM.

[blacksheep]

LOM gets a mention in this WSJ article - Miners Dig High to Hunt for the Most Valuable Diamonds - Surge in demand and looming shortage for the stones is reshaping mining in one of the world’s poorest countries

extract - https://www.wsj.com/articles/miners-dig-hig...onds-1499851801

In May, Australia’s Lucapa Diamond Co. said it had raised 19 million Australian dollars to develop the neighboring Mothae mine. Lucapa says it expects to get an average price of well over $1,000 a carat after the mine comes into production in early 2018.

There are obstacles, however, to turning Lesotho into an African diamond hub like nearby Botswana, where the discovery of the precious rocks in the 1960s has since led to decades of prosperity and stability—and impressive prospects for mining companies.

Since a bloodless attempted coup in 2014, Lesotho has changed government twice, most recently after it held elections on June 3. The political upheaval has deterred long-term investment, especially as companies are finding it difficult now to raise the kind of capital needed to explore Lesotho’s low-grade ore. Although the country has one of the highest concentrations of kimberlite in the world, diamonds aren’t found in all kimberlite and are costly to retrieve.

[arty]

In Reply To: arty's post @ Feb 23 2017, 08:31 AM

As the Angolan wet season draws to a close, mining and screening should become easier and more productive again. The chart suggests buyers may share that view as prices consolidate and accumulation becomes evident. Check out the Bullish Divergence in MACD over the two matching Lows 20/04 and 5/05.



Note: A price increase by 30% of the mother stock will cause the 20c options LOMOA to double in value. I loaded up on oppies, too.

[arty]

62ct diamond recovered from new Block 25.
http://www.asx.com.au/asx/statistics/displ...;idsId=01831374

[arty]

In Reply To: Twobees's post @ Oct 13 2016, 11:46 AM

Apparently, the Market agrees with you, and I had to rethink my (ill)logic.
Never mind that 47 didn't hold; we're back there now, and today's news from the Brooking prospect is well received.

I hold (again) both mothers and OA.

[arty]

In Reply To: Twobees's post @ Oct 13 2016, 11:46 AM

The chart suggests lacking demand. That could be due to the Quarterly Report; people may have expected a better cash position after those reported record sales. Is it because the sale proceeds go into the JV accounts instead of LOM's?
Technically though, support seems to hold at 47c.



If that continues to hold, any good news, e.g. another exceptional find in the coarse gravel, will likely send LOM above the current Darvas Box and create another higher trading range. I hold.