Dwyka Diamonds (See LSE:NYO) Share Discussion Threads

[ukgeorge] 13/8/2009 17:12

do they have a jorc resource yet

[heno614] 13/8/2009 16:50

LSE reckons 218M shares, maybe the site hasn't been updated with the shares issued to Minerva holders.
It also shows that the M/C in the header is static data.
Anyone know how to pick it up dynamically ?

[kickstart] 13/8/2009 16:42

Eric , the mrket cap at that price is 10.729mln. according to their website there is approx 190mln shares outstanding.

George,
No they do not have any diamond interests anymore.

[heno614] 13/8/2009 16:41

Current market cap is £12.3M, 218m shares multiplied by 5.625p.

[soulsauce] 13/8/2009 16:37

Think there is about 190m shares so I make that about £10.8m mkt cap.

[eric76] 13/8/2009 16:29

These look rather interesting is advfn right that the market caps £7.4 million at this 5.625p mark?
TIA,

[ukgeorge] 13/8/2009 13:52

this what i was ref to

Further to the announcement made by the Company on 3 December 2008, KimCor (AIM: KIM), the AIM-quoted diamond mining company, today announces that irrevocable undertakings ("Undertakings") to vote in favour of the indirect sale to Belmont Mining Limited ("Belmont") of the Company's diamond and industrial assets ("Proposed Sale") have been obtained from KimCor shareholders collectively holding 52% of the issued shares in the capital of the Company.




Pursuant to the Undertakings, the signing shareholders (which include Dwyka Resources Limited, the holder of a 48.2% shareholding in the Company) have agreed to vote in favour of the Proposed Sale at the Extraordinary General Meeting of KimCor shareholders which will take place on Thursday, 8 January 2009 ("EGM").

[realcooltrader] 13/8/2009 12:57

George, it's:



Not sure about diamond assets, not been in this very long. They appear to be concentrating on gold and nickel.

[ukgeorge] 13/8/2009 12:11

whats Dwyka website? do they still have diamond assets

[realcooltrader] 12/8/2009 09:59

Just bought a few more at 5.55p. Not a bullish sign when you can buy at below mid, but seemed too good an opportunity.

[realcooltrader] 04/8/2009 09:23

From Wiki:

"Nyota is a given name. It means star in the African languages Swahili and Lingala."

[bones30] 04/8/2009 09:17

Interesting they want to change the company name?

From RNS:

RESOLUTIONS

1. Change of Company Name

To consider and, if thought fit, to pass, the following as a special resolution:

"That, pursuant to section 157 of the Corporations Act and for all other purposes, the name of the Company be changed to Nyota Minerals Limited."

[cagey76] 03/8/2009 09:41

certainly hope so Jonny, they are defintely ensuring communication is good which is great to see.

[jonny flame] 03/8/2009 09:18

Nice to see this on the move, patience will be rewarded here.

[jonny flame] 30/7/2009 07:19

30 July 2009

Dear Shareholder

Firstly, my apologies for the length of time that has passed since I last wrote to you. I hope that you have kept up to date via the announcements over the past few months since we launched the takeover offer for Minerva Resources plc ("Minerva"). Unfortunately during that time we were unable to communicate as freely with shareholders as we would have liked due to the various UK rules governing takeovers.

As at 28 July, Dwyka had valid acceptances from Minerva shareholders representing 87.72% of the shares in Minerva, we have replaced the Board of Minerva with our own directors, we have taken management control of the company and the projects and Minerva has been delisted from the AIM market of the London Stock Exchange.

Following is a short briefing on the Minerva Projects and the rationale for our decision to bid for the company, plus an update on our other activities.

1. Minerva's Projects

Minerva has been working for some years on a gold exploration project in Ethiopia, approximately 500km west of the capital, Addis Ababa.

Our view is that Ethiopia is a safe country and is welcoming towards foreign investors. The government of Ethiopia is keen to encourage investors and our experience is that it makes its government and minerals department executives readily available for meetings. There are various tax breaks and incentives for investment. We believe that Ethiopia will increasingly become a place in which foreign companies do business.

Minerva had completed a total of 34 drill holes on its gold projects before we took control. The benefit of this work is that we can immediately move to having it independently interpreted and technically verified with a view to commencing further drilling in anticipation of moving towards a mining scenario, as well as working towards expanding the size of the orebody. Over the next couple of months we aim to:

Have external consultants complete the technical interpretation of the work done to date

Receive a report from Johannesburg based independent experts which will assist us to determine the next phase of the work programme

Complete some trenching work in the field, near to the previously completed drilling, which will also assist us to determine the next phase of the work programme.

Our overall objective is to drill enough holes to delineate 1 million ounces of gold and commence a feasibility study with a view to starting mining. We believe the project has far more upside potential than just 1 million ounces and this will be pursued alongside the desire to get into mining.

2. Muremera Nickel Project

Since I last wrote in April drilling has commenced at Muremera. We expect to be able to update you on progress there in the coming weeks.

3. SwaziGold Project

We are now in detailed discussions with our partners on this project to take it to the next stage and will keep you updated with developments.

As always, please don't hesitate to contact me on [e-mail] if you have comments or queries.

With warm regards.

Yours sincerely,

Melissa Sturgess

CEO

[kickstart] 30/7/2009 00:29

Yes I agree Jonny, best for them to spin off the bits they would be weakest to progress given their expetise and keep the two or three plum parts of the entire portfolio. I am glad Melissa has said getting rid of Muremera is not an option.Long term this will be the making of DWY IMOP , but first lets get the gold rolling out asap to fund the company when current funds dry up.

[jonny flame] 29/7/2009 16:46

Thats a very interesting report;

- Spin off the platinum business, to possibily Sylvania. Apparently already had three overtures from groups interested in participating in the deposit.

- Sell the Swaziland gold project, to possibily Pan African Resources (PAF)

- Concentrate on Muremera and the Ethopian gold projects

- Sell the Sierra Leone exploration ventures inherited from Minerva

All sounds good to me.

[fairdeal2008] 26/7/2009 15:01

Have a look at SHG also:

£3million plus in cash and 2.6million ounce JORC growing all the time. Capped at £5 million which is silly....

I remember discussing Tulu Kapi with MVA about a year ago - they were so excited with the project I bought more stock. Ha - didnt tunr out as planned but now buying more Dwyka as a result...

And the targeted 65k production said it all... that is confident.

[rathkum] 26/7/2009 14:50

I agree, we may be sitting on a jewel. This stock could turn out to be a gem and a true gold play if ever there was one.

[fairdeal2008] 26/7/2009 11:58

It certainly is - they have swooped and done a great deal with MVA...

Don't forget the MVA Platinum interests also....but Tulu Kapi is going to be the Jewel in the Crown IMHO

[beagrie] 24/7/2009 16:06

certainly looks exciting,$950 dollars an ounce currently,thats $61,000,000 less costs, hmm interesting.