RE:Dividend?
Thanks Nyoni for posting link to video. Here part of it in writing.
Photo: Lucara Diamond Corp. CEO William Lamb on BNN’s Commodities with Andrew Bell earlier. Photo: BNN
Click here to watch the BNN interview.
Andrew Bell: We’ve seen a couple of downgrades, BMO and RBC, they say nothing wrong with the company, just the stock’s got above their valuation.
William Lamb: I think the way we would see that is they are basing on information which is available in the market. The resource statement which we have filed on SEDAR at the moment doesn’t consider the occurrence of these large diamonds. That’s the basis on which they need to put their investment thesis together. What we’ve actually done is about six months ago we commissioned a resource update. We’ve been processing specific samples from the centre and the south… We do expect a resource update and a 43-101 to be available in the first quarter of next year, and I think that will confirm what we see in the occurrence of these large diamonds.
Andrew Bell: There’s been some talk of a dividend.
William Lamb: Lundin Group companies have never paid a dividend… Lukas has come to realize that in the diamond sector, there are not as many projects as you would find in other commodities where we can start to add and grow our portfolio with the amount of cash that Karowe mine has the ability to generate… Through 2014, we do have a capital program, but when we get to the end of 2014, based on our cash reserves, we’ll look to implement a dividend.