Bluerock Diamonds Share Discussion Threads

[thevaluehunter] 06/3/2018 16:34

All it's going to take is one large diamond discovery.

[hazl] 06/3/2018 14:23

Thanks bikwik prices of diamondsClearly relevant

[bikwik] 05/3/2018 10:17

The price of polished diamonds is rising, it started 5-6 months ago. Have a look at a chart of the index:



It cleared resistance at 118 several weeks ago. (You'll see that clearly if you click on a one year chart).

The 5 year chart shows a downtrend from just below 150 but that looks to be old news. A new uptrend looks to be in progress.

[thevaluehunter] 02/3/2018 15:36

I think the £900k for h1 is for production, admin and general expenses but given they had the problems in Q1 17 I think the h2 numbers will be more relevant. They said they reached break even in September.

[cyberbub] 02/3/2018 09:42

Valuehunter post 522, that seems broadly accurate as far as some numbers go, but it depends how much G&A there is also. From what I can see in the last interim results they had £900k "operational expenses" just for H1, and it's not clear how much of this is fixed G&A and how much is variable mining costs.

[cyberbub] 02/3/2018 09:38

Does anyone know how much the CEO or other key management get paid here?

[hazl] 01/3/2018 19:47

A nice bowl forming actually,in my opinion.

[hazl] 01/3/2018 19:46

I think they ought to give us a few diamonds,as dividends , for being so loyal after
the last few months!

[homebrewruss] 01/3/2018 15:45

Latest Proactive interview with the CEO:

[thevaluehunter] 01/3/2018 15:37

So FY18 revenue guidance c+$4m and mine cash cost c$1.7m [$6.2 (disclosed in Jan) x 275000] giving quite a nice return. Market cap looks v.cheap to me.

[hazl] 01/3/2018 09:47

Well at a quick glance looks like we have plenty to keep us busy in the near future.

'As noted previously, the Company expects to provide an update at the end of March 2018, in respect of the January, February and March tenders and production since November 2017. '

So look forward to that and hope they throw the shadow of their past off soon as it definitely sounds like sour grapes to me!

[hazl] 01/3/2018 09:41

Thanks for your well-made points bikwik in post 518.

Only just looked into ADVFN I am busy elsewhere.
Car won't start etc etc!

Haven't even had a chance to read the RNS!
Here goes!

[bikwik] 01/3/2018 09:33

Well it seems to me hazl that you and me are the only ones invested here, so that either means we have made a thumpingly big mistake OR this is a sign that we have got it right and everyone else is looking the other way. Judging by the RNS today (average forecast of 11,500 carats this year compared with 3,728 in 2017) then i'd go with the latter. Still needs a bit more messing about in the sideways range though.

[bikwik] 28/2/2018 10:00

Thanks for highlighting the article hazl. It confirms my suspicions about Visser. He was part of the incompetent management that has now been restructured. In Vissers case he left! Also it looks like third party contractor Diacar which he had very close ties with was one of the main reasons why the Kareevlei mine was shut down for a while by the South African Department of Mineral Resources (DMR). This was because of shortcomings in two areas, one of which - TMM issues which all related to machinery owned by Diacar. Bringing its fleet (Diacar) up to the required DMR standard appeared to be something it did not wish to do as it then decided to withdraw from its agreement with BlueRock to provide earth moving services.

That's a bit like Fred taking his car to the garage for an MOT and being told it has failed because this part is worn, the indicators don't work, the tyres are below the 1.6mm minimum tread depth etc. So Fred says oh I can't afford that and decides to not get the work done and takes it off the road. Maybe Visser is trying to screw BlueRock for the cost of the repairs to the Diacar machinery that is substandard and which he could not afford at the time. Maybe it is for something else. Who knows, point is it sure makes him come across a bit like Fred!
(See BlueRock RNS of 13 July 2016).

This bit in the article you highlighted is relevant:

“It was important that I came out here to get to know the team, the way of working, the operation and then report back to the board,” says Waugh. “It is fair to say that I uncovered some inefficiencies that the board had increasingly become uncomfortable with, and following further investigation, decided that the operating team here in Kimberley needed to change.”

Over the course of the following 12 months, Waugh set out to make wholesale changes. These changes included changing the structure of the team, the way the company was operating the mine, the way the company worked with third party contractors and even the process of diamond recovery.

Thanks again for bringing the article to our attention. It makes me even more confident about BlueRock and its prospects. The Visser stuff is just a distraction and some appear to have been derailed by it. Others though, particularly those that were buying on the day the price sold off when the Visser RNS came out, are maybe cast in the mould of Charles Clore the financier and propery magnate who famously once said "Opportunity is everywhere".

We are still in the sideways basing out pattern below the 2.4p ceiling. Once we break over that then this should quickly double and a lot more besides. I still have my one million shares and I ain't selling!

[hazl] 27/2/2018 16:47

Do read the above anybody invested here.
It sounds as though Waugh really turned things around,assuming the piece to be accurate.
So is it sour grapes on the part of the previous management?
Certainly it seems as though Waugh did a good job on compliance and regulation issues?
Who knows I have little else to go on from past articles.

IMO

[thevaluehunter] 08/2/2018 16:07

Yep good post

[hazl] 07/2/2018 09:16

Thank you bikwik for the Visser articles

[moneytree1] 06/2/2018 15:08

only down 4% today.

[bikwik] 05/2/2018 15:02

I'll post some more stuff re Visser when I have a mo. Involved in other stuff for a few hours now.

[hazl] 05/2/2018 13:14

Thanks bikwik ....interesting.
Unusually we are faring better than a lot of stocks today just by standing still!