Bluerock Diamonds Share Discussion Threads

[cf456] 20/9/2019 10:28

A real sense that momentum is picking up:

"continues to underpin the increasing potential of the Kareevlei mine"

Not just the potential of the mine, but the "increasing" potential.

Q3 quarterly update to look forward to next.

[cf456] 20/9/2019 10:17

There we go.

10.6 carat diamond sold for $103k.



Mike Houston, Executive Chairman commented, "I am pleased with the recovery and sale of yet another high value diamond which continues to underpin the increasing potential of the Kareevlei mine. I look forward to updating our shareholders in the Q3 2019 quarterly update."

[tim000] 20/9/2019 09:17

There are currently 40614 outstanding Director share options; all but 14313 are worthless (and the 14313 are only in the money above £6.25!) There's no doubt that in the near future, new options will be issued to Gus, Mike, etc. It's interesting however that none have been issued to date. I suspect that new options might be exercisable between £1-2, and that they'll be issued after the next quarterly results are released in early October, which will demonstrate how the company has been turned around.

[cf456] 20/9/2019 09:05

Agreed. The large diamonds are the icing on the cake.

[tim000] 20/9/2019 08:57

Of course the bigger picture is that throughput is increasing rapidly and the company is profitable. In the medium term, whether they find any large diamonds this month or next month is immaterial. The company's current budgets assume a unit price per carat of $340, which is what they earn currently excluding the large diamonds sold. So implicitly their 2020 budgets are based on zero discoveries of large diamonds. Anything is thus a bonus.

[cf456] 20/9/2019 08:23

Would certainly be good to see either of those - an intraday RNS today or one on Monday - with a large diamond sold at auction.

That might kick start the next leg up and get the price trending above 100p.

[tim000] 20/9/2019 08:04

CS diamond auctions complete on Thursdays. For the three BRD announcements of sales, two were on the next day (RNSs released 9.28am and 11.05am) and the latest one (19/8) was on the following Monday at 7.00am.

[tim000] 19/9/2019 17:51

Yes, "very encouraged" leads investors to think there is good news in the pipeline; you wouldn't say that unless the company had performed well in Q3. What I'm not clear about is to what extent there was downtime in July while the crusher was upgraded. Obviously that wouldn't affect the number of tonnes mined, so it also depends on the extent to which any downtime in July could be made up in August and September by increased throughput.

[cf456] 19/9/2019 16:43

That would be a positive if the company has felt able to repay the outstanding Director loans. I wonder if there will be a tender results RNS tomorrow.

Good to see that the company isn't just "encouraged" but is "very encouraged" by how the new team is performing under the new CEO. All continuing to sound very upbeat.

[gowski] 19/9/2019 12:28

A pink diamond would be nice

[tim000] 19/9/2019 11:08

I don't want to over-interpret this RNS, but this is what I think. I suspect the company had heard the results of the September tender this morning, and hence knew its Q3 revenues (but not yet its production obviously). On the basis of that knowledge, it felt able to repay the outstanding Director loans to Adam Waugh & Paul Beck of £231400. As at end-December 2018 (and probably until recently), AW held 46465 shares (1.4% of the share capital). Whether he has/will reduce that holding in the light of his exit, we won't know! But there have been some chunky sales in the last few days.

[tim000] 19/9/2019 10:01

Adam Waugh had lent the company £181,400 @ 11% annual interest in August 2018. I'm guessing this has now been repaid and, with the success of the new management team, AW no longer has any input. So he has no remaining role to fulfil. It will be interesting to see who replaces him. I'd guess that a NED role in BRD might attract some well-respected people.

[cf456] 19/9/2019 09:47

RNS - former CEO has left and positive update:

"We have been very encouraged by how well the new team have performed under the leadership of Gus Simbanegavi and we look forward to updating shareholders in our next Quarterly report."

[unkwn] 18/9/2019 22:35

Hi texaschaser, what is it like being a mug punter with a sore ass?

[texaschaser] 18/9/2019 21:18

There’s only one direction this pos is going and that is down to the rocky shore to get drowned. As we say . . z z z

[cf456] 18/9/2019 20:49

Oh yes, I hadn't noticed BOD.

Hopefully in time more and more will discover the strong investment case here. Strong moves from the likes of PDL and BOD could certainly encourage investors to start looking for other quoted diamond miners.

[tim000] 18/9/2019 20:11

BOD also rose strongly today. Strange there aren't more people on this board, imho BRD is by far the best bet in the diamond sector. I guess people just don't know about BRD.

[cf456] 18/9/2019 19:35

Interesting price action at PDL today.

Maybe investors starting to look a bit further out and towards a stronger diamond market and an uplift in sentiment.

Any renewed sectoral interest may get new investors starting to take an interest here.

[cf456] 18/9/2019 19:29

Hopefully an RNS on Friday or Monday then.

Another 24.98 carat diamond would be very nice.

[tim000] 18/9/2019 19:23

Note also that a sale of a 24.98 carat diamond was announced by BRD on 14 June, the day after CS's June tender concluded.

[tim000] 18/9/2019 18:57

Here is CS's tender calendar, which tends to confirm that they are indeed the auction house, and that an RNS will be on Friday

hxxps://docs.wixstatic.com/ugd/4d05b8_3d119ec558e34176a394edd31aea059d.pdf

[tim000] 18/9/2019 18:52

There's a good chance this is the auction company for BRD's diamonds. (The company has stated the tender takes place in Kimberley, where CS is located.) The website states that sellers receive the results from the September auction tomorrow. If this is the correct auction house, then it seems likely that any RNS might not be until Friday or even next week.

hxxps://www.csdiamonds.info/

[gowski] 18/9/2019 14:54

Wonder if any diamonds sold at suction? 19th tomorrow