Lucara Diamond Corp T.LUC

Does not make sense to me...

[AndersS]

Today's share price does not make sense to me. But maybe I'm missing something?
Below is a list of the most relevant news and factors to the share price which I can think of looking back 4 months or so.

 

• 2021-07-15 Lundin family bought more than 17 million shares @ $0.75 [SEDI]
• 2021-08-25 Lundin family bought almost 24 million shares @ $0.665 CAD  [SEDI]
• 2021-09-09 Lucara announces final board project sanction for the underground expansion and financial close of financing. [Press Release]
• 2021-10-03 Lucara reports a historically strong Q3 report with revenues of $72.7 Million. [Press Release]
• 2021-10-07 Berenberg Bank upgrades Lucara to Buy and raises target price to $ 1.00 CAD. [Reuters]
• 2021-12-01 Essentially all Lucara employees in Botswana have had two doses of covid vaccine. [Scotiabank Mining Conference presentation]
• 2021-12-01 Work on underground is progressing well. Pictures shown of obvious progress. [Scotiabank Mining Conference presentation slides]
• 2021-12-08 Botswana, one of the first countries to detect Omicron, sees no rise in hospitalisation. Only one person is in ICU according to the health minister. [Reutes, see link below]
• 2021-12-08 Polished diamond prices continue to rise and IDEX index is at 52 week high. [https://www.idexonline.com/index]
• 2021-12-08 Paul Ziminsky rough diamond index is at 52 week high. [https://www.paulzimnisky.com/roughdiamondindex]
• 2021-12-08 Lucara share falls to $0.55 under relative high volume.

 

Reuters link: https://www.reuters.com/business/healthcare-pharmaceuticals/botswana-says-no-rise-hospitalisation-omicron-70-vaccinated-2021-12-08/

[Gerrywerry]

It's odd indeed , everything seems good except maybe for Clara , tax selling?

[theSwede99]

Perhaps China's recent woes within the development sector and credit re-rating is concerning?

[AndersS]

But if that was a concern, should not that also affect the diamond prices negatively? But they are strong and at a 52+ weeks high.

[Hrundi]

Pure and simple. Lucara's price action is because the stock is an orphan. The core Lundin group are busy on bigger better things and the company is run by a lady that as nice of a person as she may be, can not promote a stock to save her own life.  Sooner or later patience will run out and she will be replaced by someone that can produce results. I'm the meantime tax loss selling will