Diamondcorp Share Discussion Threads

[darcon] 25/10/2016 06:33

Shareholders have 10BDs from the commencement of the offer period to notify their 1%+ holdings so we will find out relatively soon who has sold and whether any potential third party suitor built a sub-3% holding prior to the commencement of the offer period.

[ged5] 24/10/2016 11:02

It was cancelled. Replaced with the 1083333 trade.

[darcon] 24/10/2016 10:53

10.8 mln share trade gone through at 2.5 pence

[iicb] 21/10/2016 13:07

Well its still cheaper than quickquid ;-)

I remember someone saying Worthington wasnnt very impressive anyhow a year or so ago on here. whether true or not i dont know.

they need a good deal maker, hence maybe Worthington isn't up the job in some eyes.

pleased they got some funding sorted though, even on such terms.

they have a promising mine with potentially a high yield payload to extract - even when they missed their production goal they still made $700000 from sales - they just need someone to help keep it producing - if they play their cards right, they should be able to drive a good price for this company.

all to play for. and I hope someone like PL will think of his shareholders and not shaft them - hes been well backed by them/us over the years and it needs rewarding.

[wisecat2] 21/10/2016 10:29

Tiger Maybe he was hung out to dry by a so called friend on the board to save their own neck. Only one person gains out of all this

[tiger60] 21/10/2016 10:01

Lets discuss in a few days time...If the terms of the GBP700,000 loan is anything to go by (at a whopping 15%) then it doesn't look good.

'is irrelevant because we will have an offer' probably will but no guarantees. Some will have other ideas how to gain the assets whilst leaving shareholders with very little. There have been a few cases in the oil sector where that has been the case.

Anyway talk in a few days and by the way good luck. For the long term holders it has been a messy affair.

Also I wonder why the group that came forward with the funding wanted Worthington out at the last AGM? They got their wish as part of the financing deal I suspect but I would love to know what made them raise it months earlier.

[mesquida] 21/10/2016 08:24

The long term financing, and possible dilution from such a financing, is irrelevant because we will have an Offer for the Company before the end of the year. And yes, given the Company's weakened state, any potential buyer is in a position to drive a hard bargain, but if it is a competitive bidding situation then we may all be pleasantly surprised.

[tiger60] 21/10/2016 08:01

Extrapolate your numbers for the long term financing and the dilution will be over 50% minimum. The only money to be made here is a takeover.

[mesquida] 21/10/2016 07:41

Tiger60, if you do the sums then we might ultimately be talking about less than 10% dilution to the equity capital. Given the urgency of the situation I believe this to be none too onerous, and more importantly the Board now have 8 or so weeks of valuable breathing space in which to procur a decent Offer for the Company, thus negating the need to seek further capital. This Offer, if and when it comes, could easily surprise on the upside, given that a number of diamond miners are currently known to be in acquisition mode.

[tiger60] 20/10/2016 23:09

Amazing just for the short term debt a gbp 50,000 upfront fee plus 15% interest and then 30% discount on share price or cash repayment and all secured. Desparate times. Incredible. Madness to buy in to this.

What price the long term debt? Some people cant read a rns.

[darcon] 20/10/2016 19:51

Unless David Gasken and the Newlands continue reducing aggressively

[mesquida] 20/10/2016 19:37

This afternoon's share price action looks a little perverse to me as I thought that the short term loan package was none too onerous in the circumstances. Presumably some punters were looking for a bid announcement, and clearly also David Gasken's 4 million share sale will have had some effect (assuming that it was executed after the announcement). Suspect that price will rally tomorrow.

[irishlass2] 20/10/2016 16:41

Short term financials arranged. Why would anyone finance this company unless someone gave them the nod that it was about to be taken over/merged? Looking good despite the mm games.

[ged5] 19/10/2016 19:10

So who is David Gasken and why did he buy at least 1.86% of the company last week. It could have been anything up to 4.85%.

Now why would anyone buy that amount on the day they announced the mine closure and further warning of a going concern? Hmmm!

[iicb] 19/10/2016 14:26

you would only be happy with 6p if you bought in recently. Some shareholders were hoodwinked into buying at 10p, so that is the bear minimum for me.

What PL has said like dividends, why the price wasn't as high as Firestone (think we know why that is Paul), selling for a pityful 6p per share is not acceptable to me. I know PL also bought at 10p and 6p and other levels.

I think theyve already had some good deals put on the table to them the past few months, and the funding issues and lowered production for a while have made them think it would be easier to now get help or sell in total rather than keep trying to find ways to stay afloat.

excuse my maths.

[ileeman] 19/10/2016 09:21

Bought some, would not be surprised to see this back to 5-6p sharpish imo

[mesquida] 19/10/2016 07:33

iiCB, 20p per share would give you a valuation of almost 100 million, not 50 million as per your post. But be that as it may, I think that you are being far too optimistic. Personally I would be happy with 6p.

[iicb] 18/10/2016 19:42

I actually once thought it should be worth more than that, more like 50p per share in a few years time (subject to good mining).

[iicb] 18/10/2016 19:41

What do we really think DCP is worth? 20p per share valuing it around £50m? Everything is done, it just needs consistent mining and they'll rake it in.

[h2owater] 18/10/2016 17:05

MAIN MARKET AND AIM - WINNERS
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Diamondcorp, up 56%. The diamond miner stepped up its efforts to secure funding by launching a formal sales process so it can consider all of its options, including potentially selling the business or participating in some form of merger. The company also revealed the suspension at the Lace diamond mine in South Africa, one of the primary reasons the company is struggling with its finances, has been lifted. Diamondcorp was already in talks with some of its shareholders and other third parties about addressing its immediate funding requirements and, whilst those talks are at an "advanced stage", DiamondCorp believes it needs to broaden its options. The suspension of operations at the Lace mine have been removed and four days of production was lost in total, it said. DiamondCorp said it has minimised the impact by rescheduling maintenance work and because the mine was ahead of planned tonnage prior to the suspension.

[h2owater] 18/10/2016 16:50

They'll get the funding! We're talking Diamonds of good quality. Not much debt, producing.


Remember London Mining went down because of Ebola + £193m debt!

DCP is gonna survive, possibly taken over!

500k is a drop in the ocean for these fat cats of planet Earth!

Look at the chart above, can see a 100% to 6p soon!

[neo26] 18/10/2016 16:06

how inept are the management if they couldn't get 500k funding....

[iicb] 18/10/2016 14:47

If you had what I have in here and witnessed the last few weeks of decline, you would worry too.

[h2owater] 18/10/2016 13:54

Rating On Watch: share price Angel Reiterates a "Buy" Rating on Diamondcorp PLC (LON:DCP)OCTOBER 18, 2016 BY DOLORES FORDhttp://www.whatsonthorold.com/2016/10/18/rating-on-watch-sp-angel-reiterates-a-buy-rating-on-diamondcorp-plc-londcp/