LOM 0.00% 11.5¢ lucapa diamond company limited

Poor Sales Result.

  1. 1,939 Posts.
    I am a bit surprised that there has not been more discussion on here about the recent poor sales results.
    Of course when these came out there was the usual ramping like, "they left out the big diamonds" and "they only sold the rejects"

    All completely UNSUBSTANTIATED.

    The announcement quite clearly stated that it included production up until the end of January, so the only diamond of note that was not included was the latest 63ct (which BTW if you look at closely has a very poor shape and imo will not get anywhere near what is being speculated on here).

    Now the following is straight from LOM announcements.
    However if you feel this is incorrect, email the company and post their reply here if they give permission.

    So what was produced up until the end of January,( lets say December for safety).
    Diamonds that included at a minimum,
    34.7 type IIa
    25.05 ct
    24.45ct17.35 type IIa
    16.5 type IIa
    14.4 ct
    13.3 ct
    10.95 ct
    10.15D colour type IIa
    9.9 type IIa
    9.3 ct
    6.9 ct
    6.6 ct
    6.25 ct
    6.25 ct
    5.75 ct
    4.35 ct
    1.65( kimb)
    and fancy pinks and yellows.

    And here is where they have been announced,

    24.45, 10.95,
    http://www.asx.com.au/asxpdf/20140303/pdf/42n46vdtb73234.pdf
    5.75
    http://www.asx.com.au/asxpdf/20140430/pdf/42p9sdvzh1m339.pdf
    10.15 D colour type 11, 13.3, 6.25x2
    http://www.asx.com.au/asxpdf/20140728/pdf/42r22mklhbfqb7.pdf
    1.65 kimb
    http://www.asx.com.au/asxpdf/20140801/pdf/42r6yghy9qm90l.pdf
    16.5 type 11a and fancy pink and yellow gems., 9.3
    http://www.asx.com.au/asxpdf/20141030/pdf/42tbk5g340lrgw.pdf
    34.7, 17.35, 9.9 all type 11a
    http://www.asx.com.au/asxpdf/20141127/pdf/42v1tp19gq1w9n.pdf
    25.05
    http://www.asx.com.au/asxpdf/20141208/pdf/42vbg9q3h18pzp.pdf
    14.4, 6.9, 6.6, 4.35 mined Dec.
    http://www.asx.com.au/asxpdf/20150129/pdf/42w78d60b9bd6k.pdf

    So given that these have been included one would have to say that the results was very disappointing.

    Why did this happen?

    Now if you follow the process that happens after the diamonds are mined as outlined in the following from LOM, after mining the diamonds are stored in a locked vault in Sodiams Office in Luanda.
    http://www.asx.com.au/asxpdf/20150323/pdf/42xfwzc15hy68t.pdf
    Page 18.
    And monitored by Angolan State Diamond Security personnel.

    Notice that they are stored not at their senior partners Endiama safe but at Sodiams, now we have some interesting links about Sodiam and my favourite African girl, Isabel.

    http://www.forbes.com/sites/kerryad...las-isabel-dos-santos-snared-a-swiss-jeweler/
    http://allafrica.com/stories/201402261012.html

    And a good one from the World Bank.

    https://star.worldbank.org/corruption-cases/node/18615
 
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