African Diamonds Share Discussion Threads

[euclid] 18/11/2010 20:41

"Some of the technologies that have been developed by Debtech are being sold to competitors, other mining houses, such as African Diamonds, which aims to use it at its AK6 mine near Orapa."

[adamao] 18/11/2010 18:11

Agreed Teemore, it's a small amount of security by European standards, so I wonder why AFD bothered to contest the application to the stage where it was heard by a judge. Having conceded AFD now have to pick up both side's legal costs for the matter in addition to the security bond. After all, they will get the bond back should they win.

[chapchip] 18/11/2010 17:41

a bottle of Stella Artois is worth more!!!!!!!

LOL

[peterz] 18/11/2010 17:27

Can someone enlighten me - Stella Diamonds, I have a few, were they given as part of some del with AFD?

[euclid] 18/11/2010 17:18

...and...
"The directors of Botswana Diamonds have entered into letters of appointment with Botswana Diamonds. Alex van Zyl will not be a director of Botswana Diamonds."

[euclid] 18/11/2010 17:16

"Under the Implementation Agreement and the Demerger Agreement, all employees and consultants of African Diamonds shall transfer to Botswana Diamonds, other than James Campbell. An offer of employment between Lucara and James Campbell is currently being negotiated and has not yet been finalised."

[chapchip] 18/11/2010 17:12

perhaps JC is being taken by LUC as part of the AK6 deal ???

[euclid] 18/11/2010 17:05

The original JC did anyway, although not both miracles at the same time.

[the mullah] 18/11/2010 16:53

Perhaps. LOL. Why are they not retaining JC. He walks on water and turns it into wine.

[chapchip] 18/11/2010 16:34

perhaps MS or LD will come back ?????????

LOL

[the mullah] 18/11/2010 16:31

How is Botswana exploration, or whatever it is called, planning to run the new company they intend to list without any technical team involved. The proposed directors are not known to have an extensive diamond exploration knowledge base. 7p looks like an inflated opinion considering...

[teemore] 18/11/2010 16:25

Thats a very large sum/security!! 10,900 euros!

[adamao] 18/11/2010 16:13

By my reckoning that's the 2nd cost order against AFD in this lawsuit.

[adamao] 18/11/2010 16:05

Court order, summarised:

In a hearing at the High Court of Botswana held at Lobatse on 1 Nov 10 in the matter of Microsearch and African Diamonds, it was ordered by consent that:-

AFD shall furnish additional security for costs in the sum of P100,000 before 30 Nov 10,

Microsearch withdraws its replying affidavit from forming part of the record in this matter,

African Diamonds shall bear the costs of this application.

[tanelorn] 18/11/2010 09:59

Hsbc have advised they will be sending me a cert as no nominee facility, as and when/if the deal is concluded,

[varrirob] 17/11/2010 22:20

The short term sweetner to this deal is the new co. shares at 7p. To me the decision will be as to whether to sell as soon as they are issued and bag some profit or hold in the hope that the remaining assets are turning in some good results.

[euclid] 17/11/2010 11:49

correct - exactly where it is.

[tanelorn] 17/11/2010 11:31

52p x 80% = 0.41p

[mclellan] 17/11/2010 11:09

Not good enough, after 6 years, really.

[euclid] 17/11/2010 10:43

At present the mkt cap of LUC is 222M x 0.86 / 1.63 = £117M
At present the mkt cap of AFD is 100M x 0.4 = £40M

Therefore total mkt value for Mothae and AK6 together = £157M

After the takeover, and LUC have issued 80M new shares to us, the whole £157M will be spread over 302M shares.

£157M/302M = 52P

That should be the starting point to my way of thinking.

[mclellan] 17/11/2010 10:40

So, no new suitors have emerged, in spite of JC's comment about potential ones.
It'll be interesting to see if the vote is a 'yes'.

[tanelorn] 17/11/2010 09:05

Seems price is shadowing luc albeit with a discount & no value for newco.
Pessimistically ( 0.8 x 0.8 ) / 1.63 = 0.3926

[the mullah] 16/11/2010 09:22

I have voted.

[chapchip] 16/11/2010 09:09

unless they have evidence that such stones exist ???

[euclid] 15/11/2010 22:04

Reading through the latest on AK6 mine design etc, I see that the top cut-off screen has been set at 30mm - suitable for the recovery of up to 350ct stones.

The quoted probability for a 350ct stone at AK6 is one in 5 million tonnes processed.
For 300ct stones the probability is 1 in 3 million tonnes and for 250ct, 1 in 2 million tonnes.

The probable mineral reserve they are working on is 36 million tonnes.(down to 324m)