Van Dieman Mines Share Discussion Threads

[ramnik007] 23/4/2008 09:15

If new mgt can deliver, this stock could motor quite rapidly. Tin price now $24000!!!

[m5artin] 15/4/2008 20:37

Things might go better now

[sagem] 15/4/2008 17:29

SO WHATS THIS REALLY ALL ABOUT..........AND IDEAS JUST WHATS BEEN HAPPENING BEHIND THE DOORS :-


Van Dieman Mines appoints Ron Goodman exec director, operations; removes Kinnane

LONDON (Thomson Financial) - Van Dieman Mines Plc. said it has appointed
non-executive director Ron Goodman as executive director of operations where he
has responsibility for reviewing the status of the Scotia and Endurance
projects.
The mining company with 100 percent owned tin-sapphire mines in Tasmania,
Australia also said it has removed founder Neil Kinnane as a director of Van
Diemen. He will also be removed as a director of the company's Australian
operating unit and have his services agreement terminated, said Van Diemen,
without providing further details.
The company also said Markswift Ltd. has transferred its 37.35 million
shares in the company, representing 24.2 percent of the voting rights, to three
separate legal entities following a corporate reorganisation of Markswift. The
shareholdings of these three legal entities represent the holdings of the
original founders of Van Diemen -- Ken Frey, Kinnane and Clive Trist.
[e-mail]

[varies] 15/4/2008 17:29

After this latest release few of us will expect to see production start before September.
Is there a rainy season in Tasmania ? If so, we can be sure that it will arrive in time to prevent production starting in 2008.
I feel sure, however, that if I were to sell my shares at 11p now I would see them at 20p in six months time. So I shall simply let them gather dust and hope that Mr. Goodman will be more effective than his numerous predecessors.

[daz] 15/4/2008 16:24

He had to go, he stood up at the AGM and said the project would be in by December, I knew then he was being over-optimistc and I thought a four month delay was making adequate allowances but obviously not.

[pachandl] 15/4/2008 15:14

Termination without reasons being given. Sounds a bit fishy - hands in till?

[ramnik007] 15/4/2008 14:57

I guess the old mgt have proven themselves to be incompetent with little clue on how to assess and bring about a mine into production. I am surpriswed the institutions took this long to get rid of them.

[cestnous] 15/4/2008 14:15

'Mid 2008, near future, update on position at end of April.' Director sacked. Why? More prevarication and no REAL news or info. It's what I've come to expect from this bunch of amateurs.

[chipperfrd] 15/4/2008 14:08

Oops!
Yet another delay - and they have lost another director too!

So production start-up is now mooted for mid-2008 - whatever happened to end April!!

[chipperfrd] 15/4/2008 12:48

Tin at $21,300/t All we need now is a production start-up!

[vermilion1966] 15/4/2008 09:54

In case this hasn't already been posted...



...see 'Miss Tasmania' - amusing & a good summary

[aim_trader] 18/3/2008 15:11

Ahhh good old RAB....

Not.

[katylied] 17/3/2008 10:11

Ah... I have figured it out. I got it back to front.
The error is not in the final figure = 26,735,000
but in the initial = 19,685,000 figure (19.99%)

On 07 January 2008 a previous RNS stated..

14,943,226 = 9.69% so...

19.99% = 30,827,150 (old holding)
17.34% = 26,740,516 (~ new holding = 26,735,000)

I guess they must set these puzzels
to keep us entertained...

[m5artin] 17/3/2008 09:21

I am so confused, have RAB sold shares or have they bought shares?

[katylied] 17/3/2008 09:13

RAB disposal figures... re. RNS... New holding...

19685000 = 19.99% so 17.34% = (19685000/19.99)x17.34 = 17,075.433 shares

but... whoever did the calculation in this RNS...

worked it out as = 26,735,000 shares

shares v. voting-rights? 1:1 or not?

Ho Hmmmm.... ?????

[fillipe] 16/3/2008 15:20

Thanks KL - I hadn't picked up on that. Pretty costly borrowing!

[varies] 15/3/2008 15:11

KatyLied
Thanks so much for pointing out the level of VDM's debt.
This is certainly an important factor and makes the start of production all the more urgent.
Once production starts and a decent cashflow is visible, VDM should be able to borrow more or re-arrange the current loan terms. Until then we are on thinner ice than I realised !

[cestnous] 15/3/2008 14:47

Notice that I.C re-issued its buy recommendation this week, 'despite production delays'.

[katylied] 15/3/2008 11:56

varies... the movement in the price of tin is very heartening, especially so for any company that is actually producing, shipping, smelting and selling any. However as yet, VDM isn't one of them. Rather than just gushing with all the positives (and I agree there are some), you might also want to reflect on the fact that VDM is carrying up to £6.6m of debt (depends on the rate of drawdown) at quite an expensive loan rate...

....Drawdown of the debt facility is available until 31 October 2008.
The rate of interest of the facility will be the 90 day Bank Bill Rate + 5.75
per cent. per annum and the facility will mature on 31 October 2012...

Now while capital repayments can be delayed intil 2012, interest payments cannot. Since production has been slipping more or less continually since the debt was first arranged (best case now, is only 5 months of production before drawdown closes), where do you suppose the money is coming from to service that growing debt?...

[varies] 14/3/2008 23:18

I am very interested to read all these comments on the behaviour of the share price as we approach (or so we hope) actual production.
I had a decent holding in TMC where the story was much the same : endless delays and then suddenly all seemed well and the share price quintupled in a few months.
(I was too slow selling, not keeping a sharp enough eye on the price of nickel, but still tripled my money. I wish I could claim to do this often.)
Here too many shareholders must be fed up with the interminable delays and have lost patience leaving only the hardier punters on board and I suggest this accounts for the latest disappointment having so little effect on the price.
We should see a good rise here, relative to the market at least, provided production is not much longer delayed and, of course, that the price of tin holds up.
Fingers crossed !

[ramnik007] 14/3/2008 12:30

Tin now $20450.00 - This is going ballistic, straight through the 20k level.!

If only VDM share price was reflecting the Tin price. Hopefully in the next 2 months.

[maddox] 13/3/2008 16:11

Its the US Dollar exchange rate they need to hedge! I also note that gold has reached $1000 an ounce.

Regards, Maddox

[ramnik007] 13/3/2008 16:07

Tin at 19999.50 today

Now mgt have to deliver the metal without any more excuses!!!

The good thing is that they did not hedge any.