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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| West African | WAD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.50 | 3.50 |
| Top Posts |
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Posted at 27/1/2010 09:40 by redleafboy Maybe pamelling? Or perhaps it is as Warren Buffett would no doubt agree called INVESTING and therefore being an INVESTOR?Sounds as though you are just in this stock for a quick turn? punt? |
Posted at 27/1/2010 09:15 by redleafboy What is wrong with that? It does take time you know - AFD went from 7p on IPO to circa 180p in about 3 years. Investors understand this, but if as i suspect you are just a day trader then you would obviously expect this type of move over just 2 to 3 days....lol! |
Posted at 27/1/2010 07:34 by pamelling 27th January 2010 West African Diamonds plc ("WAD" or the "Company") Proposed Acquisition of Stellar Diamonds Limited Placing to raise GBP5.0 million Posting of Admission Document Notice of General Meeting Further to the announcement made on 26 October 2009, the Directors of WAD announce that an AIM Admission Document in relation to the proposed acquisition of Stellar Diamonds Limited ("Stellar") (the "Acquisition") is being posted to shareholders today. It is expected that WAD shares will be restored to trading from 7.00am today. The Acquisition will constitute a reverse takeover of the Company under the AIM Rules and requires the prior approval of the Company's existing shareholders. If the resolutions are passed, it is expected that readmission of the Company (as enlarged by the Acquisition) to AIM will take place and that trading in its shares will commence on 22 February 2010. RBC Capital Markets and Astaire Securities have completed a successful placing for the Company to raise gross proceeds of GBP5.0 million (the "Placing"), conditional on completion of the Acquisition and the readmission. The Placing was led by RBC Capital Markets and included Astaire Securities as joint Broker. The Company has appointed RBC Capital Markets as its Nominated Adviser and Joint Broker with effect from today and Astaire Securities shall continue to act as Joint Broker. The Placing will comprise an offer of new ordinary shares of 5p each ("the Placing Shares") to institutional and other investors. A total of 25,000,000 Placing Shares will be issued at 20p per share (taking into account a proposed 5 for 1 consolidation of the existing ordinary share capital). A circular and notice convening a general meeting of the Company to be held at midday on 19 February 2010 at 71 Queen Victoria Street, London EC4V 4DE is included in the Admission Document. Rationale for the Acquisition - Corporate and Operational Synergies: The Company will have a number of opportunities to harness corporate and operational synergies, thus allowing the operational cost base per carat to be reduced. - Accelerated Growth Strategy: Revenue streams from two producing alluvial mines will reduce financial risk, increase cashflow and will enhance growth possibilities. - Strong Project Pipeline: The Company will have four high grade kimberlite projects at various stages of development. - Strong Management Team: the Proposed Board has significant experience in the West African mining industry and a proven track record of developing mines. Use of Proceeds The proceeds from the Placing will be utilised to capitalise existing producing mines, accelerate its production ramp up, and advance key kimberlite development and exploration projects. Principal terms of the Acquisition Under the terms of the Acquisition Agreement, the Company has agreed to acquire the entire issued and to be issued share capital of Stellar for a consideration equating to approximately three times the value of WAD, represented by an approximate 75:25 split of the share capital in the enlarged group prior to the issue of Placing Shares - 75 per cent. being attributable to consideration shares to be allotted to Stellar shareholders and 25 per cent. being attributable to ordinary shares currently held by WAD shareholders. Prior to the Placing but assuming the share consolidation has taken place, a total of 53,598,496 consideration shares will be issued and allotted to the shareholders of Stellar on the basis of 1.005 new ordinary shares in the Company for each Stellar share. Based on the number of Existing Ordinary Shares in issue as at the date of this announcement (being 89,947,519) and the mid-market price of 3.875p per Existing Ordinary Share on 26 October 2009 (the date that trading on AIM in such shares was suspended), the total consideration for the Acquisition is therefore approximately GBP10.4 million of consideration shares. Completion of the Acquisition Agreement is conditional, inter alia, upon approval of the Acquisition and certain other matters by WAD shareholders and the Placing Agreement becoming unconditional (save as for admission). John Teeling, Chairman, commented: "This is a good deal for WAD shareholders and the board is pleased to support it. The enlarged group will be on a stronger financial footing due the placing and the cashflow from two producing mines. The West African diamond mining industry is underdeveloped and fragmented. Stellar Diamonds will be well positioned to exploit opportunities in the area". Karl Smithson, Proposed CEO of the enlarged group, commented: "We are extremely pleased to have progressed with the Acquisition and Placing and look forward to working together with the WAD team to create value for all shareholders." |
Posted at 24/1/2010 12:36 by eh m es mx From The Sunday Times January 24, 2010 Stellar Diamonds return to form for AIM Dominic O'Connell, Matthew Goodman A Diamond miner is set to break the long drought of resource company fundraisings on AIM. Stellar Diamonds is this week expected to announce details of the London listing that will value it at about £20m. It is coming to the market via a reverse takeover of West African Diamonds. Both firms mine and explore in Sierra Leone and Guinea. AIM was the market of choice for resources groups from all over the world during the boom years, with hundreds of oil, gas and mining firms raising money in London. The credit crisis put paid to that and in the past two years AIM has become moribund. Its last resources listing, in July 2008, was that of Resaca Exploitation, an American oil and gas group. Karl Smithson, Stellar's chief executive, said the merger with West African would give investors a bigger, more liquid company. Between £4m and £7m in new money is being raised. Lord Daresbury, the former boss of De Vere Hotels, will be chairman. |
Posted at 27/10/2009 19:16 by jungle jim Thoughts of Chairman Jim as posted on the AAAM thread:As an existing holder of both AAAM and WAD I've down a bit of research to see what this is likely to mean to me, the metaphorical bloke on the Clapham omnibus. I think that AAAM will hold shares in the new Stellar Diamonds. I believe the investors in AAAM will not see much difference (see MIO and their similar holding of Xtierra shares, makes zippo difference to Minco share price). WAD holders will see their shares change into Stellar shares, but should be at approximately the same value afterwards as before (similar to Mano converting into AAAM). That is unless the joint entity is raising some working capital during the merger/takeover, in which case WAD holders will get diluted. As Stellar is cash-generative I can't see what they would need to raise cash for, unless there is a big pospect ready to come into production that I haven't noticed. If you want to directly own shares in Stellar, I would say you would need to hold WAD shares or buy in the market post-merger. In Sierra Leone, Stellar and WAD appear to be next door neighbours, both evaluating different bits of the same Kimberlite, so makes great sense to combine resources there. I haven't the foggiest about the rest of their projects, it's taken me long enough to get this far. Overall I see it as positive for both WAD and AAAM. WAD's Teeling stated he wanted to grow the business, something that this achieves. My WAD shares convert to Stellar, with more opportunities in more projects, and Teelings management and 'blarney' should be slightly tempered by the existing Stellar management (all of whom I would expect to survive). I'm happy to hold AAAM as I bought them as Mano with good future prospects, which their recent merger has increased in a similar fashion to that which the WAD/Stellar deal should. Just my thoughts, no investment advice intended. |
Posted at 26/10/2009 09:28 by currypasty "However, a new deal is believed to be about 85% close to completion. WAD ultimately wants to increase its market capitalisation to nearer £50m to attract more institutional investors and will look to continue to expand its assets in the region around Guinea and Sierra Leone, through acquisition. "bring it on |
Posted at 26/10/2009 07:50 by redleafboy Diamond firm near 16m mergerBy Geoff Percival Monday, October 26, 2009 WEST African Diamonds (WAD) the John Teeling-chaired mining company is close to finalising a merger deal, which would grow its market value from £3m (3.3m) to £15m (16.3m) and increase its annual production rate by 400%. The deal understood to be with an unnamed privately-owned diamond company based in western Africa virtually amounts to a majority takeover of the company. WAD's existing management will retain 25% of the enlarged company, but would remain as managers of the on-the-ground production, while the new investors would take over the corporate management of the enlarged entity. Last week, WAD which has its shares listed on London's AIM market reported a slight widening of its full year losses for the 12 months to the end of April £246,465 compared to £220,066 from the previous year. Then, Mr Teeling said that the company would grow through mergers and acquisitions, while continuing to develop its own reserves. He added that earlier discussions, with a number of companies, had come to nothing. However, a new deal is believed to be about 85% close to completion. WAD ultimately wants to increase its market capitalisation to nearer £50m to attract more institutional investors and will look to continue to expand its assets in the region around Guinea and Sierra Leone, through acquisition. WAD has also recently expanded capacity at its Bomboko diamond mine in Guinea. It is understood that WAD's prospective new partner operates a diamond mine four times the size of the Bomboko asset. Read more: |
Posted at 15/10/2009 12:14 by fathert "there is at present a wall of silence from those supposably running this company"yes that is a really stupid thing to do especially with a small comp which needs investors |
Posted at 23/7/2009 10:01 by jungle jim 19,000,0000 shares to the tune of over half a million pounds have been placed with institutional investors at a reasonably small discount to the average price over the last three months. If you think it's a big discount, compare it to the buy price in April when you could buy at just over 3 pence.Here's a question. Institutional investors have bought because: a) they are charitable businesses and like to give money to lost causes or b) they are greedy grasping barstuards who like to make lots and lots of money For the hard of thinking the answer is b. That's good because it means that someone has just gambled half a million smackers that 3p is going to be far below the share price at some stage in the future. For those who think I am a die-hard ramper, check with the other long-term holders in any of JT's companies what I usually say about JT and his 'management'. I can't remember the last time I had anything good to say about any of them, and I distrust JT almost totally. However in WAD's case they appear to be doing everything right, such as: Pictures on the web site of equipment and diamonds with plausible narrative Publicly available info of amounts sold and ROI Company does not appear to be a money sink Sensible plans for growing the business Money raised to grow the business at small discount compared to some of the AIM scammers out there Directors put their own money in during the fund raising I'll continue to hold WAD and if anybody else wants to sell and drive the price down to the 3p, I'll probably have a few more as well. |
Posted at 23/7/2009 07:55 by currypasty TIDMWAD RNS Number : 1262W West African Diamonds PLC 23 July 2009 ? 23rd July 2009 Directors and Institutional placing West African Diamonds is pleased to announce that it has raised GBP650,000 before expenses, through the placing of 21,666,675 new ordinary shares of 1 pence ('Placing Shares') with Directors of the Company and institutional investors at a price of 3p. The funds will be used to expand production at West African Diamonds' Bomboko alluvial diamond mine in Guinea and as working capital. The Placing has been performed under existing share authorities, and the Placing Shares equate to approximately 24% of the enlarged issued share capital. West African Diamonds Directors, John Teeling, Alex Van Zyl and James Finn have participated in the Placing and have subscribed for 1,000,000, 1,000,000 and 666,667 Placing Shares respectively. Following admission to trading on the AIM Market of the London Stock Exchange of the Placing Shares, which will rank pari passu in all respects with the existing ordinary shares, West African Diamonds' total issued and voting share capital will comprise of 89,947,519 Ordinary Shares. Subsequent to the Placing, The Directors of the Company will have the following shareholdings: +------------------- | | No. of shares | % of total enlarged share | | | | capital | +------------------- | John Teeling | 2,015,862 | 2.24 | +------------------- | Alex Van Zyl | 1,125,000 | 1.25 | +------------------- | James Finn | 1,547,394 | 1.72 | +------------------- | J Campbell | 125,000 | 0.14 | +------------------- Application will be made for the Placing Shares to be admitted to trading on AIM and it is expected that admission will take place on 6 August 2009. John Teeling, Chairman of West African Diamonds, commented: "In difficult financial markets, the support of institutional investors and West African Diamonds Directors is a sign of confidence. The funds will be used to complete and commission a substantial expansion of our Bomboko mine in Guinea." |
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