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What Marin Katusa isn't telling you about Lucara Diamond Corp (

As the pump on Lucara Diamond Corp (, headed up by the single worst BS artist in Vancouver, gathers speed it's time to peel back the curtain and explain just why LUC is so keen on getting you to love this whole "Disrupt Diamonds Blockchain Wonderlove thing" (that will never work, as previously explained). Because the real reason these Canadian mining types want the stock price higher right now and are so desperate that they'll call up Katusa and his cohorts of Crap to do so isn't anything to do with a brave new crypto world. It's all about their Karowe mine.

Karowe is the main asset at LUC (and will remain that way, blockchain revolution or not), but the problem is that it now needs a SLOM* in order to remain in production. We're now at the point at which LUC needs to sink a VERY deep shaft in order to continue mining profitably and we're talking many many millions of dollars to do that.

Why so? IKN explains. Those of you who have visited Karowe will know that the open pit mine life has always been relatively short, even though the original pit was cut into basalt and had pitwall angles of around 60°. You'd normally think that under the circumstances of such competent host rock, they'd be able to avoid the mega-expense of a shaft and simply push back on the pit in order to extend open pit mine life. Sadly, that's not the case because as the open pit model matures the country rock has become sandstone, cannot support such a sharp angle and was flared out to around 40°. But then it gets even worse, because in the last couple of years of the open pit mine plan the pitwall moves into mudstone and the stability angle drops to a prohibitive 20°. That means it gets way too expense to cut back and the only way forward is to go underground, sink that shaft and go block caving. But even then, there's a serious geological issue at Karowe because normal block caving requires a competent host rock around your kimberlite pipe. LUC doesn't have that, it has sloppy mudstone all the way down so even after they raise a SLOM* from you retail monkeys currently buying into this pumpo, success is far from guaranteed.

But into this Clara thing...Marin told you it gonna be yuuuge so what could possibly go wrong?

Hey, I wonder if Katusa gets on the LUC President's List when that upcoming massive equity raise happens?

*Shit Load Of Money