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5/30/18

The Lucara Diamond Corp (LUC.to) chart is quite a thing

Your humble scribe readily confesses to being just a little bit obsessed with the share price action of Lucara Diamond Corp (LUC.to) ever since that "disrupt diamonds" silliness back in late February when LUC.to announced the purchase of some diamond market tech blockchain company that was about to wrest control of the whole darned world from De Beers and Alrosa. What made it extra special was how LUC decided to hire Vancouver's very own chief among BSsers, Marin Katusa (yes, he of the Northern Die Nasty debacle), to pump the whole idea to a band of willing idiots with more money than commonsense (aka "his readers"). Here's a section of the IKN post that day:
"Marin Katusa manages to get a seven thousand word report out on the LUC plan, with nuance and the whole "disrupt mining" strategy, within about three minutes of the  NR coming out yesterday. Katusa of all people! The single worst and most blatant pump and dumper in the sector (and my stars there's competition) gets the quiet inside backstory from the Thomas/Lundin/McLeod Seltzer triumvirate and manages to put it all into a long 'splainer words of two syllables max for his willing crop of retail, proofed to within an inch of its life and all shiny-clean ready to roll. I mean, gimme a break here, the quiet tip-off to the chattering classes is one thing, blatant inside information from a supposedly whiter-than-white board of directors to the worst offending BS artist in Vancouver is quite another."
Anyway, cut to here in late May, one quarter later and how are things looking for LUC?


That's fascinating price action for the last two months, is it not? It would seem that somebody, somewhere is extremely keen on keeping this price floating above the C$2.00 line. 

However, this would definitely not be a case of a band of high-powered directors in LUC with undue influence on brokerages exerting pressure or calling in favours. No, no, perish the thought. Not even a suspicion of backroom dealings here.