Botswana Diamonds Share Discussion Threads

[euclid] 20/11/2016 15:31

Watch this space?

[fiachra] 20/11/2016 09:39

Fennor. As far as I am aware their main areas of activity,at this time, are confined to Ireland,Botswana and Ghana. These are well within the capabilities of three people with their vast combined experience.

[euclid] 19/11/2016 15:10

BCL is a 100% Botswana Government owned private company, now in liquidation due to copper price slump, dwindling ore quality and rising costs.

I imagine they were keen to diversify and thus able to divert drilling and geological resources to a diamond project they liked the look of.

Given that they promptly drilled 5 new kimberlites in the Gope region and are known not to want to dilute their interest in the joint venture, it kind of suggests that they like what they see in the drilling results.

How it plays out is for the future to tell.

[markfrankie] 18/11/2016 23:29

Fenners, debeers do get it wrong... AK6 is proof ; it was thrown into the JV mix between AFD and DEBS' with a bit of arm twisting from mark scocroft, AK6 is now a world class mine.

[elmfield] 18/11/2016 17:48

Chapchip,
Plenty of folk lost money in other teeling ventures,
However they know/knew the risks but choose to blame everyone else but themselves
when things don't work,
As you say the nature of the beast, high risk possible reasonable rewards.
AFD more or less pays for a few duds on the long road!

[euclid] 18/11/2016 15:56

Actually we can double that figure.

From Tsodilo Resources website:-

"Since the discovery of the first kimberlite in Botswana in 1967, a total of 386 kimberlites have been found mainly associated with 12 kimberlite clusters (Fig. 2). Of these 16 kimberlites from four clusters have produced or are producing diamonds, and these are: Orapa (AK1, Karowe-AK6, Letlhakane-DK1 & DK2, BK11, Damtshaa-BK1, BK9, BK12 & BK15), Ghaghoo (Go-25), Jwaneng (DK2), and Lerala (K2, K3, K4, K5 and K6)."

16 from 386 = 4%

[fiachra] 18/11/2016 15:28

Fennor. Eight out of four hundred is two per cent.

[euclid] 18/11/2016 15:15

"Who are De Beers some tin pot outfit with not enough money to fund exploration ? Or world renowned leaders in their field? And they say its not commercial."

Someone could write a book about that! lol

[mickluv1] 18/11/2016 15:12

Fenners where's this balance you professed to display?! Aren't all the things you've list just the risks that anyone who invests in anything takes? You seem to have a serious gripe and certainly haven't mentioned any of the positives this clan have delivered in the past. I'm not a sucker I'm an investor! Some you win some you lose! If you're a sore loser of course you can post negative drivel in an attempt to cast your soreness over the many. What a pitiful life those sort of people must lead eh?

[euclid] 18/11/2016 15:07

BCL is a copper/nickel miner.

[fenners66] 18/11/2016 14:59

I know I am speaking to the totally suckered in with this - but are you guys at all reading the report or understanding it?

Even if we put to one side the Clontarf history of abject failure - this type of set of accounts is repeated everywhere they go - you just have to look at the "facts" as presented.

1 - "over 400 kimberlites, 8 of which have become mines" so get this guys 0.5% chance of a kimberlite becoming a mine.

2 - "Orapa covering 3 known kimberlites AK 21, AK 22 and AK 23. These had been discovered, explored and abandoned by De Beers in 2008 who believed the diamond grades found at about 1.5 carats per hundred tonne (cpht) were not commercial."

Who are De Beers some tin pot outfit with not enough money to fund exploration ? Or world renowned leaders in their field? And they say its not commercial.
However JT believes they are wrong and if new shareholders would carry on buying shares and funding for some more years he will try to prove it, or take more Director's remuneration trying.... who's money is at risk here?

3 - I absolutely love this bit

"Processing in South Africa of a 80 ton bulk sample from the LDD drilling was poor with no diamonds recovered - not even the nine control diamonds we inserted into the material."

So they are 9 diamonds down!

Didn't find any diamonds Boss. Honest Boss there were no diamonds ... do you like my new car?

Or is that another excuse for the operating loss?

4 - Gope was a duster. Another familiar tale.

5 - "The fall in commodity prices has made BCL heavily loss making and as a result BCL have been unable to undertake their agreed work programme."

But he just said that diamond prices had held up - or is this implying that BCL are not actually connected to diamonds? Either way their major partner is bust, just not able to spin to the Botswana stock exchange well enough?

6 - "There is typically a long lead time from discovery to production" - which since cash is king that even if they eventually found commercial diamonds - they are preparing everyone for years of funding required - dilution and possibly a reduction in carried interest - more reasons to avoid for now.

7 - Impairment of intangibles - again a pattern here repeated endlessly with Clontarf companies - spend, capitalise , put on shelf , review , impair , write off. Rinse and repeat. If they are so clever why spread themselves so thin and then write off because they need to concentrate on Botswana? If they are getting spread too thin why is JT in so many other companies doing and saying the same?
Do you back management that keeps making the same mistakes?

8 - "These conditions represent a material uncertainty that may cast doubt on the Group's ability to continue as a going concern." From the horses mouth - you have been warned. Risk premium anyone?

9 - "The realisation of these intangible assets is dependent on the successful discovery and development of economic diamond resources and the ability of the Group to raise sufficient finance to develop the projects.

Really big flag here we need more money - as always - yet still nothing tangible always jam tomorrow.

10 - Intangibles - added another £554k - in some companies capitalising own labour is barred. Just says that they are trying not to increase the headline losses.

11 - Just in case you need reminding of their success to date ( and believe me I do believe they have been very successful just not in the way most people are wanting ) retained reserves and deficit £ 4,260 k.


Why would anyone want to bother?
I know you have to preach positive either you have interests to defend or are paid to spin or whatever - but for every casual punter - look at the facts first !

Oh and be sure to check out Clontarf ; PET ; Connemara at the same time.

[chapchip] 18/11/2016 13:06

hopefully LUC

[euclid] 18/11/2016 12:58

A key take-away here is that BCL are in provisional liquidation, and are unable to complete the agreed work programme for which they were given 51% of the Maibwe joint venture.

"Discussions are ongoing with the liquidator to allow a combination of Future Minerals/Siseko/BOD/others, to conduct the essential drilling to verify exactly what is in kimberlite GP 173 on PL 186."

Any guesses about who "others" might be?

[mickluv1] 18/11/2016 09:27

As far as RNS,s go this one is spot on! Very positive from JT and if you read between the lines another AFD seems likely...... Woosh

[talkman2] 18/11/2016 09:20

Can't believe the market is not picking up on what they are strongly hinting at and stating . They have found diamondiferous kimberlite and diamonds . That is very significant in itself . We need more clarity and confirmation of the commerciality but the market is way off in even pricing in this prospect .

[chapchip] 18/11/2016 09:13

fingers crossed, although won t get too carried away until we see some significant uplift in the SP, but a rerun of AFD would be very welcome

[talkman2] 18/11/2016 08:08

That's a much better statement . It seems very exciting times ahead in 2017

[mickluv1] 15/11/2016 20:02

I hope I'm right too, I do wonder though what the RSN needs to read like to drum up some support for our company. As I see it they are there to find diamonds! They've found them and in the previous RNS said they believe that the pipe could be commercial, that surly should have sparked some speculative interest? But on that day the share price went down?! There's going to be a lot that miss the boat here....... GLA

[chapchip] 15/11/2016 13:28

hopefully you are right Mick, but until I see it reflected in the SP, will temper my excitement

[mickluv1] 15/11/2016 12:52

I'm sorry all but given that the diamond was found upon visual inspection one can only assume it was big enough for the naked eye to see, which in my opinion makes it bigger than the micro diamond mentioned in the last RNS! All of this is extremely rare when it comes to core analysis so the RNS is extremely positive for all holders, multiple diamonds now discovered......... positivity breeds positivity ladies and gentlemen. GLA

[chapchip] 15/11/2016 12:43

as much as I d rather not agree with you fenners6....its hardly that encouraging

[fenners66] 15/11/2016 12:36

RNS - to say we found a "small diamond " and the core has been sent for "micro-diamond analysis".
The other drill did not even find kimberlite.
Knowing the Clontarf spin machine if this had been a significant - i.e. commercial diamond - i'm sure there would have been much more made of it.
Thus can we conclude it will turn out to be not commercial?