Lucara Diamond Corp T.LUC

Re Q3 results

[nyoni]

Seems to have been pushed back from Nov 6th to 10th?

https://lucaradiamond.com/investors/financials/

[Gerrywerry]

Maybe they think they will have some news re the working capital facility by the 10 th

[nyoni]

Given that there is a Nov 1st deadline on funding matters, I think they are going to have to say something on or before that date, even if it is just to announce an extension. Interesting that the conference call is on the Monday after Friday results - almost as if the market needs time to digest whatever is presented, before trading resumes after the weekend?

[Gerrywerry]

I asked lucara . Will there be an update on or before the end of this month re the working capital facility   But silence so far . From that we can presume that it will be a late deal if at all,.

[AndersS]

Interesting! My gut feeling is that releasing a report late friday is a sign and it's not a good sign. But we will see.

[Gerrywerry]

I sent lucara an email asking why the date was moved , il let you know their response.

[nyoni]

I can't see the Q3 results being very good, given the spat with HB. After all, specials and +10.8ct  goods are our main revenue source. We need to know more about what happened, if it affects Lucara's survival and what response, if any, the Bots govt makes.

[AndersS]

Well, during the quarter they did find the 1080 and the 692 carat stones + most likely a large number of specials, so I think it could either ways depending on if they have managed to sell them or not.

[nyoni]

Yes, even if not sold they might provide collateral for any financing issues?

[AndersS]

Yes, that is a good point.  Very interesting times it is.  

[Gerrywerry]

They said " results were moved to facilitate ongoing  negotiations with the lenders “.  Make of that what you will .

[Gerrywerry]

 It strikes me as odd that they picked Friday , if they needed more time  to facilitate negotiations you would have thought they would have moved the date a full week  or more .  

[Gerrywerry]

Another thought I had was the timing of pulling out of the hb deal, I would have thought that luc had enough going on with the finance negotiations without adding the hb pullout into the scenario.  Get the finances sorted and then address the hb situation  may have been a better idea .

[Gerrywerry]

Hopefully the announcement is a good sign that luc are approaching a positive outcome of the negotiations 

[Stockintrade]

I don't know that I ever owned a stock with a P/E under 8 that performs as badly as Lucara. I bought at $1.10 and figured to sell about a half after it reached $2. With its history of finding big diamonds, demand for diamonds being consistently high, and the Russians about to get elbowed out of the market, Lucara should have been off to the races, not groveling around a shitty 35 cents. Can

[Gerrywerry]

Poor financial planning regarding the underground, it's no more complicated than that .it didn't have to be this way but  no use in crying over spilt milk . The future is still bright after we get through the underground construction.