River Diamonds Share Discussion Threads

[rokkie] 19/5/2008 14:25

"This pour, which totalled 779.2 ounces of gold ore (comprising 641 ounces fine gold and 121 ounces of fine silver), is in-line with production targets and represents the final step in the recommissioning of operations at the Mine."

lovely jubbly, down to business from here then. hopefully break through the 4.75 on the next attempt.

nice touch changing the name to Vatukoula Gold Mines Limited

[droftarts] 19/5/2008 13:50

Good News, can only go in one direction now ! (well I hope so !!)

[silveraw] 19/5/2008 13:48

RNS Number : 7783U
River Diamonds PLC
19 May 2008


First Gold pour at Fiji Gold Mine after recommissioning

River Diamonds is pleased to announce that its 100%-owned Vatukoula Gold Mine ('the Mine' or 'Vatukoula') in Fiji has today had its first operational gold pour of 641 ounces since the Mine was placed on care and maintenance in December 2006.

The gold poured was from concentrates from the recommissioning of the mill's floatation, roaster and calcine circuits, which were brought on line on 8 May 2008.

This pour, which totalled 779.2 ounces of gold ore (comprising 641 ounces fine gold and 121 ounces of fine silver), is in-line with production targets and represents the final step in the recommissioning of operations at the Mine.

Gold that is currently being recovered through the mill's carbon-in-leaching circuit and accumulated on carbon will be added to the gold pours over the coming weeks.

Operations within the Mine, whilst still experiencing some inevitable 'teething issues', have now reached a steady-state condition. Ore from both the underground and open pit operations is now being supplied to the mill on a daily basis. Alongside the commencement of production at Vatukoula, the Company has also recruited an experienced operational management team to complement the existing management in Fiji.

The JORC-compliant gold resources at the Mine total 16.84 million tonnes at an average grade of 9.49 grams of gold per tonne or 5.15 million ounces of gold. Currently, the Mine employs approximately 700 personnel.

David Lenigas, River Diamond's Executive Director commented:

'This pour of 641 ounces of fine gold is the culmination of a lot of dedicated work by the entire River Diamonds team in recommissioning the Mine in a relatively short period of time and bedding down the entire process into steady state operations. I am delighted with this achievement and would like to thank all involved.

River Diamonds now looks forward to continuous gold operations from the Mine in what can reasonably be described as a very positive gold market. The Mine is an entirely unhedged operation.

The name of the Fijian operating company will be changed from Westech Gold to Vatukoula Gold Mines Limited over the coming weeks to more adequately reflect the local significance of this project to the Fijian economy.'

Enquiries

River Diamonds:

David Lenigas
+ 44 20 7016 5100

Colin Orr Ewing
+ 44 20 7352 4117

John Ian Stalker
+ 27 11 269 4900

Neil Herbert
+ 27 11 269 4900

W.H. Ireland Limited

David Porter
+ 44 20 7220 1666

James Joyce

Hichens, Harrison & Co pl

Dave Paxton
+ 44 20 7382 7785


parkgreen Communications

Louise Goodeve / Justine Howarth
+ 44 20 7851 7480
Qualified Person

Kiran Morzaria B.Eng (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School. Kiran is the Finance Director of River Diamonds. He is a fellow of the Geological Society.

[silveraw] 15/5/2008 11:21

Oh excellent the silly sellers have driven the price down so I am in for some more cheap shares.

[imabastard] 13/5/2008 20:58

Seagreen .... the joys of 'professional' investment ....

[shavian] 13/5/2008 16:37

Mik..They still have diamond interests in Africa. No need for a name change. After all, WPP stands for Wire and Plastic Products but its been an advertising agency for almost 20 years! As you say, what's in a name. Just dig that gold, man!

[perch1] 13/5/2008 15:00

mikkydhu - i very much doubt it

[seagreen] 13/5/2008 15:00

IMAB a broker mate was marketign these as an undervalued stock to a big value fund and they said but htese should be worth 8p and my mate said yes exactly......So the fund said well as they are only 4p to 4.5p I am not buying any

ROFLMAO............we shall win out .......20p by Xmas

[mikkydhu] 13/5/2008 14:48

What's in a name?

Possibly an important clue. For some time I've been wondering why River Diamonds is still called River Diamonds...why it hasn't changed its name to reflect its ownership of the gold mine in Fiji. I don't think a name change has even been discussed officially.

So, maybe this company was never intended to be the long term owner of a gold mine, and perhaps the intention is to dispose of its ownership of Vatukoula and revert to being a diamond company once again.

[seagreen] 13/5/2008 13:33

reckon tmp will do purchase of rvd in tmp paper for what its worth as they dont have cash currently

[imabastard] 13/5/2008 12:42

.... finally .... overhang must be clearing ....

[dfgo] 13/5/2008 12:25

spoke to soon

[andrbea] 13/5/2008 12:25

21%

yippee!

at 13.01 a 1M buy went through

[dfgo] 13/5/2008 12:25

nice move so far about time.

[hope67] 13/5/2008 12:19

On the move!

[[e-mail]] 12/5/2008 16:24

is the 4p deal fixed yet & who is selling tmp if it is a sell.

[biffbaffboff] 12/5/2008 14:12

previous RNS states TMP deal not yet complete so obviously having trouble getting shares.

[biffbaffboff] 12/5/2008 14:09

i was wondering the same. they look like sells at that price but why would anybody sane sell that amount just before anouncement? unless they know something we don't. i still think this is being manipulated by MM's. RNS to confirm TMP due very soon and then another re: gold pour etc.

[silveraw] 12/5/2008 11:20

Hmmm I wonder if those 500k trades are another buy at the special mates rate of 4.00 ?
I mean why would anybody sell a quantity like that at that price when we all know this share is going upwards.

Be nice to know just what is going on here.

[silveraw] 12/5/2008 10:24

Well even I am now getting very confused as to why the share price is not rising, buy after buy after buy and nothing. It is still lower than at re-list despite something like 70m + buys over sells. This is begining to smell like a very special club for the mm's and their mates. ANY other share with the volume of buys seen for RVD would now be out of site....Am I right to be suspicious?

I am in for the long term and not looking for quick rises but some steady rise surely.

[shavian] 10/5/2008 07:30

Lenigas, Stalker, Orr Ewing..the dream team? Just added.

[silveraw] 09/5/2008 14:19

Dont forget the other side to RVD the mining of diamonds which has also to be taken into account......added value

[seagreen] 09/5/2008 13:22

Looks like a heavy hint from Lenigas that we may well get an increased jorc reserve in due course...I still expect this to be circa 16p to 20p by the end of the year as we are heavily undervalued on both an expected production basis and an assets in the ground basis on the current jorc reserve.

[silveraw] 09/5/2008 09:17

And still the 4.00 buys are holding the share price down.

[rokkie] 08/5/2008 16:17

cheers kimboy2, we've had Westech's finanical report since then, so you have to factor that in too. I suppose you pay your money you make your choice. i'm still very positive for RVD for the future once they get back up to production and and start selling some of that gold. To top it all off we now have a new resource that has been identified and looking to be make JORC compliant in the near future.