Dimension Resources Share Discussion Threads

[dusseldorf] 08/5/2012 11:53

No update as such, but if you look on the web you can see the mining minsters first mining reform proposals were dismissed by president Ouattara



So still no movement.. though that was a couple of weeks ago now

[dusseldorf] 06/4/2012 13:23

Worth repeating what was stated last year by FLC from the results:

Advisors now appointed for AIM flotation and to raise £3m
Project comprises M'bengue, Kouto and Boundiali in Cote d'Ivoire
Object of DMR's exploration activity to identify gold deposits of at least 1m oz
Company has £180k cash duss - I assume this is less now(!) and re On 20/11/10 MOA signed with Gewiss Ltd (BM 10% shareholder)
Shareholders in Gewiss will exchange their shares in Gewiss for shares in DMR at a price of GBP 0.0015 on the basis that DMR will be valued at £10m
Share consolidation on the basis of one New OS of 4p for every 40 existingthis subsequently happened

[sim5198] 30/3/2012 23:18

Thanks for the update Duss very interesting to read. I am happy to wait as long as things continue to move in the right direction. I have been wondering why the delay but given the EU position I can now see why the Ivory Coast government are being cautious. I'm guessing its financial, but what I don't quite understand is why the EU would want to limit the exploration permit sizes?

[dusseldorf] 30/3/2012 14:47

I have an update - further delay. Wheels are still in motion but the delay is still with licenses, which are still imminent.

Messages from Ivory Coast are that the issue of licenses is 'imminent'..though it has been for some time. Previous assertions over licenses 'in the post' were false based on optimistic communication from Ivory Coast. No licenses have been issued since the regime change last year (so we have not missed the boat, or lost any allocated license), just that the offical issue needed for fundraisings / legalities etc.. has not been done. All gold producers e.g. Randgold and Newmont in Ivory coast are affected by this. Though the governments stated objective is to increase gold output and revenues for the country, so you may ask why the delay...

We are not big enough to make news, but licenses when issued would be issued at the same time.

The added complication is that the Ivory Coast government is finalising a deal to cancel alot of its debt in negotiations with the EU. The EU want to look at everything as part of the deal and one of the suggestions is that the exploration permits issued by the Ivory Coast are too big (max is currently 1000sq km). DMR currently (via Gewiss) has two permits just under 1000 km sq. The EU is suggesting that permits should be limited to 500sq km each. The Ivory coast government does not necessarily want to upset the deal with the EU so may agree to the concession as part of negotiations.

The company has already made appropriate provisions so are ready to move immediately regardless of decision.

The wait is still on I'm afraid, but BM has a conference call with Shore Capital (our broker/nomad) every week on a Thursday hence his delay last time suggesting I wait until after the call.

A representative I believe from Shore Capital has also visited Ivory Coast and are happy we are in 'pole position' for licenses. They are behind the company 100% at present.

Licenses could literally be issued any day, when they are DMR team need two clear weeks to prep marketing, then fund raising and listing. So in my view we still remain a 'rolling' 5 weeks away from relist until licenses are released. The Minister for mines suggested people would be able to make it to market for funds by end May, but timing remains uncertain until licenses are out.

[dusseldorf] 19/3/2012 16:17

No news yet - have chased, I will update as soon as I get a response.

[mister md] 16/3/2012 11:48

eagerly awaiting news !

[flojo] 15/3/2012 15:41

Cheers Duss.

[dusseldorf] 14/3/2012 15:21

Brian followed up with a mail inferring he'd be able to give an update after a conference call tomorrow - fingers crossed for positive progress(!)

[dusseldorf] 13/3/2012 15:04

hi Flojo - no news as yet I'm afraid. Even by pigeon post the exploration licenses (Ivory coast) must be with Dimension, however, I can see no new listing mentioned for the company on the official AIM new listings register:


I've followed up via email with Brian, however, anticipate one delay or another to be forthcoming - same old same old(!)

[flojo] 07/3/2012 09:55

Any futher news Duss ,cheers.

[sim5198] 01/3/2012 12:27

1st March,fingers crossed for a positive month!

[flojo] 13/2/2012 09:29

Duss thanks for all the info,do you thing we should ask brian to update the website to give us long investors some encouragement -cheers.

[dusseldorf] 10/2/2012 16:51

interesting if you google "dimension resources limited ivory coast" the third entry down is a SWOT analysis for Randgold Resources (May 2011) mentioning Dimension Resources Limited (DMR) in the text description.

Can't see mention on the page itself but it's just a summary. Clearly DMR is known for having aquired licences in close proximity of Randgold. Perhaps listed as an opportunity or a threat - would be good. Am not going to pay to get the report as it may just be a passing mention.

[flc] 03/2/2012 12:50

Thanks for the update Duss

[dusseldorf] 03/2/2012 12:07

Flojo - no problem - Brian has actually given me the provisional dates in March for fundraising and a date for listing, but at this stage given past experience there is no point in sharing them suffice to say if the timetable is hit we will be listed on AIM prior to end March.

in the meantime gold looks likely to continue it's movement upwards - assuming the deal terms remain the same, the deals 'value' has increased by 30% since inception based soley on gold prices

[flojo] 03/2/2012 10:40

Thanks Duss.

[sim5198] 02/2/2012 21:37

He certainly has been dedicated. Over the last few years there have been several ups and downs, but I agree, he must really see something in DMR to be pursuing it after all this time.
I am very keen to see if and when we do finally make it to floatation, whether DMR will become an investment vehicle and if it does, what that will mean for us that are still holding......

[dusseldorf] 02/2/2012 17:06

sim5198 - I too was concerned, not from a terminal problem for DMR, but a stall of this propsect - last thing we want is another 12 - 24month delay to find a new one(!). Believe me, I'm sure Brian wants this to happen more than we do - he has run Dimension for 13 years and tried to progress circa 5 other reversal opportunities. I believe Gewiss (owner of the Ivorian licenses) is an investment vehicle for him and pals, so there is more riding on this than just his DMR stock - its floatation of a key tax shell.

DMR will continue I believe after a floatation, but my view is Brian wants to step back and allow e.g. Jonathan Morely-kirk to use its generated value to absorb a growing number of prospects to become an investment vehicle.

[sim5198] 02/2/2012 16:58

Thanks Duss, thought we had seen the end!

[orvil] 02/2/2012 15:10

Sounds promising at last-thanks Duss

[dusseldorf] 02/2/2012 13:39

I have an update. Licenses agreed by president and mining minister of Cote D'ivoir and are 'in the post' to lawyers! big hurdle out the way. Brian frustrated by delay, but pushing as much as he can do. Current target for float by end March.

Appreciate this is a moving target, but the deal has not fallen through and progress is being made.

[dusseldorf] 19/1/2012 15:45

FLOJO - I am here, I emailed brian last week with no reply, I'll chase him again shortly - however, given lack of response I would suggest no movement as yet and the likely hold up is in ratification of licenses in Ivory Coast

[flojo] 19/1/2012 14:19

Duss are you there ?

[flojo] 16/12/2011 09:04

Morning all, Duss heard any more ,cheers.