Elkedra Share Discussion Threads

[kenmitch] 24/2/2006 16:10

Sorry. Post sent twice.

[unionhall] 24/2/2006 10:43

I expect it will put a bit of pressure on the share price as some people paying 10p for shares will be happy to sell a proportion and realise an instant profit.

Others will sell shares now in order to get funds to exercise the warrants.

[rambutan2] 24/2/2006 10:34

looks a good deal to me - as long as i'm right in my reading that the offer isnt compulsory and if you want to hang onto the wrrs for a 12p exercise in 2007 you can. is that how others read it?

also noted the big taker up of the dec placing, and interested to see that el oro also took just a few...

7. RESOLUTION 3 - RATIFICATION OF PLACEMENT

On 16 December 2005 the Company allotted and issued a total of 3,117,059 Shares
at £0.17 (A$0.40) per share. The Shares were issued on the same terms and
conditions as the Company's existing fully paid ordinary shares and were issued
to the following parties:

Name No. of Shares

Collins Stewart Investment Management 294,117

Winterflood Securities Limited 100,000

Hawkwook Fund Management 882,353

JM Finn Investment Management 294,118

Dryden Wealth Management 60,000

El Oro & Exploration Company PLC 220,000

Fidelity International Investment Advisors 1,176,471
(UK) Limited

Savoy Investments 90,000

3,117,059

The December 2005 Placement raised gross funds of $1,246,823, which are being
used to fund the Company's ongoing exploration activities and provide working
capital for the Company's operational and administration expenses.

[bageo] 24/2/2006 08:30

Interesting news today
- need the money (not good)
- exploration should increase sooner than it would otherwise

The warrants look a good hold rather than trading them in

[rambutan2] 22/2/2006 23:52

well, nothing new in presentation. still saying they will be producing by their y/e ie june and that will get rolling by end march. (touch wood)

[kenmitch] 22/2/2006 11:55

News of a presentation today - but I can't download it.

Share 20p to buy and EDNW just 6.2p to buy - I've just checked - on a 6.0 to 6.5p spread.

So warrants are at a big discount. Odd - as is being able to buy at just 6.2p.

If the MMs wanted rid of them - e.g if they supposedly know something we don't - they would let us buy in decent amounts. They don't.

Can anyone explain?

[kenmitch] 27/1/2006 17:05

Off topic.

Buffin. Had me genuinely LOL. They act like sheep - maybe they count the epic of that company instead of sheep.

[buffin] 27/1/2006 12:53

Off topic

Hi ken

If I can't get back to sleep, I go to another place and count the people jumping through hoops to make a case for a certain other company. Just as effective as sheep, for some reason :)

[rambutan2] 27/1/2006 10:08

agree, after immediate mark down, i think that folks in oz have also decided to give them until march.

[kenmitch] 27/1/2006 09:55

Thanks. Don't either of you sleep?!

One delay was to be expected - from late Dec to late Jan.

A second - to late March was disappointing.

Now hoping that these delays won't be like profits warnings and come in threes.

Even so my answer to the Buffin question is also yes even with a third delay as production and revenues are not far away.

Interesting to see the share price rise in oz last night. Just correcting the recent loss probably - and my guess it will stick there for a couple of months. Can't be to do with positive newsflow surely, so soon after the progress update.

[rambutan2] 27/1/2006 03:42

up in oz as of now, 19-19.5p equiv.

[buffin] 27/1/2006 03:34

Hi Ken

I'm thinking, if I'd known production was going to start a little later, would I still have had my punt? And for me the answer is yes. If the company is going to be a success, the lag is neither here nor there.

[kenmitch] 26/1/2006 13:20

Thanks for the comments. Good point re. hedging. Tried to sell a few EDNW a couple of days ago, but impossible to sell more than 5000 at the quoted price, so have decided to hold on to the rest, and hope the share price shifts once production starts.Would I have been able to sell more with a decent broker? Put the tiny proceeds from the 5000 sold at 6p into topping up my RBS1700 March call which so far has proved a good move. I'm not going to add to EDNW.

[buffin] 24/1/2006 12:51

I suppose delay was to be expected. It's a shame they didn't hedge their currency exposure but there we are. Disappointing, but it's only a punt for me and I'm staying in. They're pretty close to production compared to many mining companies!

[rambutan2] 24/1/2006 01:28

i'm certainly hanging on for a few months. albeit slightly delayed, everything looks on track. let's see what they've got to say at end of march.

[kenmitch] 23/1/2006 15:53

News today - as I suspected - of a another delay. Start date now put back to the end of March.

Key negatives. Structural steel fabrication contractor let them down. They have now got a replacement. But that has caused a 4 - 5 week delay.

Other delays have pushed production into the rainy season.

Project development costs are currently within budget BUT appreciation of the Brazilian REAL has caused some erosion of project contingency provisions. This has been addressed by a placement in London (with those sophisticated investors!!!) last December.

Elkedra will continue to monitor the cash position to ensure an efficient start up of operations.

I've highlighted the negatives. Lots of positives too - 95% complete - so not far to go.

Can't see the shares and warrants doing much if anything until March. Hope the Brazilian REAL depreciates.

Any views anyone?

[rambutan2] 09/1/2006 09:47

still here. but my experience tells me that deadlines are there to be missed, especially in this sector!

[kenmitch] 09/1/2006 09:04

News? Still no confirmation of that end of this month start date. Does this bother anyone else - or am I the only one left?

[rambutan2] 13/12/2005 17:30

im not worried.

[kenmitch] 13/12/2005 17:29

Why have EDN raised the money here rather than Australia?

i.e for "sophisticated investors" read "mugs?"

Also no mention that the mine is still on schedule. They could easily have reassured about the starting date at the end of the third paragraph.

Or am I wrong on both counts?

[buffin] 13/12/2005 12:41

No, it's a technical term.

[unionhall] 13/12/2005 10:17

"sophisticated investors" - is this a new species ?

[rambutan2] 13/12/2005 10:13

RE: AIM PLACEMENT

Elkedra Diamonds NL (ASX/AIM: EDN) has pleasure in announcing that it will place 3,117,059 shares at 17 British pence (A$0.40) to sophisticated investors in the UK raising a gross amount of 529,900 British pounds (A$1,246,823). The placement was managed by the company's London AIM Broker, Westhouse Securities.

The new shares will rank equally with existing shares on issue and application
will be made for the new shares to be quoted on the AIM market of the London
Stock Exchange and the ASX. Admission of the new shares to AIM is expected on 16 December 2005.

The net proceeds of the issue will be applied to bringing forward exploration
activities in Brazil and to supplement the Company's working capital
requirements associated with the development of Elkedra's 100% owned Chapada
diamond project in Brazil.

It is expected the Appendix 3B will be lodged on Friday 16 December being the
date the new shares are scheduled to be allotted.

For and on behalf of the Board.

[rambutan2] 07/12/2005 10:18

someone's bought 500k wrrs at 7p.

the november agm presentation is worth a view.