IKN

untune that string and hark

This is why Lucara (LUC.to) sticks in the craw

Here’s the link, here’s the offending segment dated November 4th 2019:
Zara Boldt, Chief Financial Officer
commented: “Lucara is weathering the current downturn in the diamond
market better than most of our peers.  Karowe’s high value deposit and
unique production profile has allowed us to generate enough cash to
operate our business, develop the Clara sales platform and to have been a
steady dividend payer
.  Based on the strong economics outlined in the
feasibility study, we are confident that our external financing
requirement will be modest and that attractive financing options are
available
to supplement the expected contribution of our cash flow from
operations to fund the underground project.  We are optimistic about
diamond prices recovering in the short to medium term as global supply
decreases next year and we have also identified a number of optimization
opportunities for the underground that could add additional value to
the project in the near term.  With this in mind, Lucara’s Board of
Directors has determined that using our available cash flow for detailed
engineering and design work, early procurement initiatives and to
investigate project debt financing options in the near-term, rather than
the payment of a dividend, is the best use of the Company’s capital
going forward.”
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