African Diamonds Share Discussion Threads

[euclid] 14/12/2010 14:36

A direct link to the March report:-

[euclid] 14/12/2010 14:31

I don't know that exchange rate was an error issue, since as far back as March MSA had it covered:-

20.1.5 Exchange Rates
"Because the costs of the mine are mainly in Botswana Pula and South African Rand, and the revenues are in United Stated Dollars, the project is exposed to exchange rate risks. The updated financial model created by MSA, and based upon the model created by PPM in their conceptual study, uses average exchange rates over the past six months. Nevertheless, both currencies have exhibited considerable volatility in the past.
Figure 20-2 shows the sensitivity of the project to fluctuations in the USD/ South African Rand exchange rate. Zero percent is the average exchange rate for the six months ending 28th February 2010, -10% indicates a 10% strengthening of the rand,and so on."

[barker haines] 14/12/2010 12:14

I heard another rumour that some participants in the large April placing to raise funds for AFD's increased stake in AK6 were less than happy to learn (weeks later) of the large increase in the capex requirement.
I have always found AFD entertaining. I will miss them!
However we still have Botswana Diamonds to look forward to and I look forward to a status update on the DRC (what's happening with the $1.3m investment?), Cameroon, Zimbabwe, Bots, etc.

[barker haines] 14/12/2010 11:38

I wonder why Teeling isn't naming names in that article??
I heard a rumour that the feasibility study assumed a US$:ZAR exchange rate of 1:9, which (if true) was definitely the wrong call!!!

[euclid] 14/12/2010 11:13

Barclays Stockbrokers sent out their notices last week for nominee holders.

[maxjack] 14/12/2010 10:43

Does it matter if your holding in a Nominee account?
My broker still has had no information regarding the takeover!!!

[teemore] 14/12/2010 10:32

Loch -if you hold on in there you will get your money back with a profit as the Lundin Group have a good track record

[peterz] 14/12/2010 10:29

euclid - yes I hold certs.

[euclid] 14/12/2010 09:45

Our fame must be spreading:-

"Botswana, the country home to the AK6 diamond prospect..."



(last para)

[peterz] 14/12/2010 09:29

CC - thank you.

[euclid] 14/12/2010 09:29

Do you hold certs in AFD peterz?

[lochnessmonster] 14/12/2010 09:00

I'd laugh teemore if I hadn't lost so much money. LMN

[peterz] 14/12/2010 04:21

Would someone please say what the position is now I had 27500 AFD what happens and how many shares do I have after the LUC deal. Will I get new certificates in LUC? - How many.

[vada_nick] 14/12/2010 01:00

No real shock here IMO, but I would not put it past the old mucker that this is to spread the word of the HUGELY CHEAP valuation of AK6, and hence LUC, which we all have a decent share of going forward (including JT). No matter of what anyones feelings to JT, I think the approach is good, as its all about rasing MY LUC share price now, forget AFD.

[teemore] 13/12/2010 22:21

'experienced mining expert'- where did you get that idea from???.

[chapchip] 13/12/2010 15:24

BUCK..agreed...i think AFD have been turned over by LUC..........

[buck316] 13/12/2010 14:43

I still dont think its a problem and am going to hold the lucara shares. If they got a great deal and we now hold their shares surely that's a good thing. If they took our shares for 40P and nothing else I would be very annoyed but as I see it these shares will go up from now on. Just how long it takes will be the problem.

[teemore] 13/12/2010 13:11

I have not added because I have moved into a couple of other aim stock and I always like to keep these type of investments/speculation spread!

[euclid] 13/12/2010 11:07

I've also added recently in the hope that LUC will do well.

[teemore] 13/12/2010 10:51

I agree with Curry and it is extremely difficult to get finance from banks - bearing in mind that most of them have little to lend and have difficulty with their own capitalisation! I still believe that AFD was /is worth a multiple of 40p, however the Luc share price is/was as much discounted as the AFD share so in one way we are losing nothing with this transaction if we continue to hold Luc into AK6 production. On the plus side Luc are a company with a background/experience of mining

[chapchip] 13/12/2010 10:44

TM.......hhmmm.....

The Mullah - 13 Dec'10 - 09:20 - 14311 of 14315


"We were misled," complained Teeling. He could not identify the consultants, but said African Diamonds also had a hand in the mess.

"We were ill – advised," he noted regretting the Lucara takeover.

With experts like Van Zyl and Campbell on the board?????