Dwyka Diamonds (See LSE:NYO) Share Discussion Threads

[rathkum] 03/9/2009 19:12

Help yourselves. Is it greed or because everyone else is doing it.

[omerta] 03/9/2009 18:45

directors taking up meaningful amounts of Shares @tad over 6.5p via employee scheme....

[bones30] 26/8/2009 23:13

... I'm bored now!

Not selling though.

[dogberry202000] 23/8/2009 00:34

You probably do. I received mine a few weeks ago.

[lizafl] 22/8/2009 20:41

Have any ex Minerva shareholders received their Dwyka shares in their Selftrade accounts yet? I transferred my SIPP from Selftrade to Sippdeal at the end of July, and there's no sign of my Dwyka shares. From the official announcements it looks as if the shares were issued on 12 August. I'm wondering if I need to chase it up.

[eric76] 22/8/2009 10:43

Agreed and it was only a flippant comment after the week we had.
ATB to all holders, hoping pog gives us a good week.

[smelleroo] 22/8/2009 09:48

dwy future news flow:

drilling results from burundi project, announcement of new Chairman, jorc study on ethopian gold project and disposal of non-core assets imho swaziland gold project (helps generate cash) and these should occur from now to the end of the year. i have probably missed one or two things out but things are shaping up very nicely here! nothing to do with amc

smell

[bones30] 21/8/2009 23:56

No this hasn't been bitten by the AMC bug in my opinion.

DWY isn't such a ADVFN stock, if you see what I mean.

[eric76] 21/8/2009 16:15

Be ok if it has the rise first. lol

[realcooltrader] 21/8/2009 16:12

Just as long as it doesnt follow AMC's drop today.... Good to see 1.5m solid buys today with only three sells.

[eric76] 21/8/2009 16:12

Well if so we'll be able to top up at "one sell all sell" point then.

[chrysippus] 21/8/2009 16:00

I wonder if DWY has got a bounce from the AMC drama yesterday...?

[cagey76] 20/8/2009 12:35

Ok, found this.

"Dwyka Resources Ltd., of Perth, made an all-share offer for Minerva Resources PLC, a gold-exploration company operating in Ethiopia, with an estimated 500,000 troy ounces of gold. Minerva shareholders approved the deal last month, and first production is expected in 12 to 18 months.

"If we are right...that [gold] is worth probably about $16 million and we have paid about $3 million in paper," said Melissa Sturgess, Dwyka's chief executive. Dwyka is planning on spending an additional $3 million to develop the project in the next 18 months, Ms. Sturgess said."

I'm not sure where the market cap is after the Minverva shares have been issued, but in theory this could roughly double the share price.

[rathkum] 20/8/2009 12:13

Good news from Ethiopia and we could see a re-rating

[dogberry202000] 20/8/2009 11:58

You will have a clearer idea of that some time in September. They are working on Tulu Kapi right now and are hoping to put out a news release in that month.

[cagey76] 20/8/2009 09:03

kickstart, you mention the piece of string bit, but then go on to give an answer, so the question wasn't too bad ;) There are many holders out there with far more knowledge than me in the mining sector, some interested in the gold, some the nickel. I was just hoping to get some gut feelings and target prices from some of those people.

I like the look of dwyka, the recent changes at board level look good and the communication of whats happening is first class, what I am unable to determine is estimates of how much they are looking to mine, ie potential.

Anyway apologies for the simplistic question, but I'm hoping people will understand what I am aiming at.

[kickstart] 19/8/2009 19:23

Cagey,
That is like asking 'How long is a piece of string'? The shares have been as high as 67p in July 2007 on the excitement over Muremera. If they can progress these new gold deposits quickly I would expect to see at least 30p within 18 months. Muremera is a long term poject but very good drilling news could also propel the share.At the moment the shares are not worth much more than the cash and look silly cheap IMOP given the assets.

[cagey76] 19/8/2009 17:30

to the long term holders here, what is your take on where the long term share price could go ?

[debbiegee] 16/8/2009 21:28

Link reposted re the question of diamonds.
See last paragraph !

Stakes in gold and diamond exploration projects in Sierra Leone

[chrysippus] 14/8/2009 07:57

Eric -

See what you meant - this seems to be in a 5.5 - 7 range and I suppose will trade in this until news... obviously always better to get the bottom of the range!

I'm waiting to reach my target for another share in my ISA to reactivate my punt here so I'm hoping we don't get a dramatic RNS before mid September but still have a good feeling in my water about this medium term!

Very best

Chrysippus

[eric76] 14/8/2009 07:17

Thanks chrysippus that was most useful and will help no end. With the "being quick for a good price" I just meant to get them for the 5.75p rather than 6p thats all as they looked to be getting a lot of buying interest yesterday afternoon.
Will see how they fare this morning then.

[kickstart] 14/8/2009 00:20

Re Diamonds,

KimCor sold off their diamond assets as they were practically worthless and Melissa Sturgess resigned as chairman ...

The following is from the December quarterly report...

KIMCOR DIAMONDS PLC


During the Quarter, Kimcor Diamonds Plc ("KimCor"), in which Dwyka has a
shareholding of 48%, announced that it had signed a Sale of Shares Agreement
with Belmont Mining Limited ("Belmont") pursuant to which KimCor would
effectively dispose of its diamond and industrial businesses via the sale to
Belmont of all of the shares in the KimCor subsidiaries acting as holding
companies for those businesses, in return for Belmont assuming liabilities in
relation to those businesses and paying GBP500,000 in cash to KimCor. The
signing of this agreement came in response to a dramatic downturn in the market
for rough and unpolished diamonds as a consequence of the global financial
crisis and resultant concerns about the future profitability for KimCor of its
Southern African-based diamond assets. The agreement, which was subject to the
approval of KimCor shareholders in general meeting, became unconditional when
such approval was obtained at the KimCor EGM held on 8 January 2009. At that
EGM, KimCor shareholders also voted to change the name of the company to Carlton
Resources Plc.

[chrysippus] 13/8/2009 20:21

Not sure you need to be quick eric... the 65 oz py is depending on tests drills and trenching in Autumn.

The Ethiopian prospect is good, and MWA were excited by it but it's not guaranteed.

The management team is good but it can be a distance between finding and mining successfully.

Point is, I think these will be good in a few months, but I think there'll be news driven and there'll be a few weeks at least between the MWA acquisition and the big next news.

Have been in these (got out flat recently) and do think they are a good speculative punt but not sure you'll have to catch them quick.

Could be wrong, though... could double tomorrow lol

Best wishes

C

[debbiegee] 13/8/2009 20:13

Re diamonds !
see link above in post 592 last paragraph !
Also re jorc resource

Thanx for link Jonny

[eric76] 13/8/2009 17:38

Thanks for the replies all. They sound very promising, 65k oz's/year to come I'll have a look in the morning but with gold high think I might have to be quick to get a good price.