West African Share Discussion Threads

[father o toole] 26/10/2009 12:28

currypasty

yes 50p would be nice as i think i have around £30k worth bought in the 20/26p region, so that would be a fair price for us long termers, and rememeber the directors who exerciesed £125k worth of options at 20p.

[thedub] 26/10/2009 12:09

A deal is very close indeed to completion. As i said last week lets see what the next few weeks will show, more news to come.thedub

[moosh2] 26/10/2009 10:22

yep. i got the same dummy buy.

[trint76] 26/10/2009 10:06

Well I did a dummy buy earlier and was quoted 4.04p

[currypasty] 26/10/2009 10:05

I think its only a bit of an overhang that is holding us back.

Im assuming they are buys at 4.04.

[ein] 26/10/2009 09:53

I would be hoping for the S.P to double from here , terms then to be announced of a deal,which should move it higher. We are in production and the Diamond Market is finally getting going, anyway its good to see it moving.

[trint76] 26/10/2009 09:42

What realistically can we expect from such a deal though, in terms of share price .?

edit: assuming around 20p here but still a very nice price

[moosh2] 26/10/2009 09:38

they want us to have at least 50p a share!? heck, i'm holding on for dear life!!

[father o toole] 26/10/2009 09:35

very good news.

[currypasty] 26/10/2009 09:28

"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

[trint76] 26/10/2009 09:21

I see those sell trades are actually buys at 4.04p.

[devil20] 26/10/2009 08:20

Well, that makes everthing clear. Nice of them to let me know!

[devil20] 26/10/2009 08:20

itchy finger.

[redleafboy] 26/10/2009 07:50

Diamond firm near €16m merger

By 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:

[redleafboy] 26/10/2009 07:48

jibbajabba - 26 Oct'09 - 06:04 - 3516 of 3517




.....Meanwhile, WAD's sister company, African Diamonds (from which WAD spun off two years ago) is also close to completing a significant deal. In conjunction with a strategic partner it is looking to buy out the 70% of the AK6 diamond mine in Botswana owned by South African company, DeBeers.
The Dublin-headquartered company is keen to significantly expand its near 30% stake in the mine, gain greater control of its diamond capacity and product marketing and have a more hands-on role in the development of the mine. The company hopes to bring the AK6 diamond mine on stream by 2011.

The talks between African Diamonds and a new strategic partner are ongoing, but are understood to be at an advanced level and could be completed within the next week.

[devil20] 25/10/2009 20:48

So how do you reckon this fits in with AFD? Are JT/JC waiting for AFD to be bought out by De Beers? Then enlarge WAD? Any thoughts?

[waleriuszwatrobka] 25/10/2009 20:31

"..."We are a producer of high quality stones. We have known reserves, we are experienced in the industry, but we are too small." Teeling said. WAD's future strategy would therefore be to grow by mergers and acquisition and the company is currently in the process of discussions with a number of companies to this end..."

[ceckyspunt] 25/10/2009 20:23

mkt cap of £3.7m with a turnover of potentially £2.75m and unknown costs at this stage for bomboko... touch and go whether we'll see a profit over the next financial year, but at least things look more positive.

looks like only £250k in the bank so WAD will need funding soon, or partner, and there is always the possibility of a t/o.

[waleriuszwatrobka] 25/10/2009 19:39

....there you have a reason for last week's spike and heavy volume !!! ;-)

"WAD Reports Positive Production from Bomboko"

[father o toole] 25/10/2009 19:30

i guess we must have had around 6m shares traded in the past 6 days, that says alot also any overhang presuming there still is one wont last a crack in the face of 7% of the share capital traded within 6 days.

[leapinn] 23/10/2009 18:30

It would be a perfect reverse takeover vehicle for a company looking for an Aim listing. Certainly not worth John Teeling's time.

[moosh2] 23/10/2009 16:02

providing share price finishes up today/this week, then weekly on balance volume will be majorly up and that's a good thing.

[father o toole] 23/10/2009 15:54

you can say that again moosh.

[moosh2] 23/10/2009 15:52

there doesn't have to be any reason why as share just starts going up. they'll go into uptrend when the SMAs are ready and not before (and when MMs have cleared all back orders). after all, us PIs play second fiddle to those big behind the scenes orders.