Share Name Share Symbol Market Type Share ISIN Share Description
Bluerock Diamonds Plc LSE:BRD London Ordinary Share GB00BKKJK954 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  -6.00 -7.41% 75.00 11,542 14:10:57
Bid Price Offer Price High Price Low Price Open Price
70.00 80.00 79.00 75.00 79.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 1.42 -2.45 -0.01 4
Last Trade Time Trade Type Trade Size Trade Price Currency
14:11:17 O 1,918 70.5001 GBX

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Date Time Title Posts
27/2/202021:33BlueRock Diamonds - Diamond Producer1,578

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Bluerock Diamonds Daily Update: Bluerock Diamonds Plc is listed in the Mining sector of the London Stock Exchange with ticker BRD. The last closing price for Bluerock Diamonds was 81p.
Bluerock Diamonds Plc has a 4 week average price of 75p and a 12 week average price of 75p.
The 1 year high share price is 155p while the 1 year low share price is currently 0.13p.
There are currently 5,258,004 shares in issue and the average daily traded volume is 9,878 shares. The market capitalisation of Bluerock Diamonds Plc is £3,943,503.
tim000: November auction takes place starting 18th, with a possible RNS on Friday 22nd if there are any large stones sold. O/T For anyone who's interested in share tips, GLR has similarities to BRD, but its share price recovery has yet to begin. (GLR mines zinc and other metals.) Personally, I think its upside is just as great as BRD's was from circa 50p, if not greater. But it might require one last equity raise. I've suggested to the Directors that they consider a similar arrangement with Teichmann that BRD has, though no doubt they have their own ideas. GLR has a good man leading the operation, he was in London yesterday presenting on JLP, another company well worth investing in.
tim000: smb, you'll be aware that the spread is large and the share price is volatile. But if by temperament you're a longish-term investor, then I would thoroughly recommend adding to your existing holding. I'm not sure the share price will get any weaker than this. I'm not aware of any other LSE listed company that has a mkt cap this low and yet is (a) profitable, (b) has no debt (the CLNs are interest free and will be converted into shares idc), (c) a substantial resource that will last at least a decade, implying a decade of profits barring unforeseen shocks, and (d) tangible prospects of expansion into new projects.
fillipe: BRD a true winner for me. I've topped up again today - as I only see the share price remaining on an upward trend. One only has to look at the share price progress since as recently as the end of August this year. Yes, there are bound to be some sellers, as 50/55p holders from earlier this years do still exist (to which I can attest) but the future will steadily see suchlike diminish and with improving results ahead BRD has a good sparkle about itself. f
tim000: Welcome aboard, cash! You're right to like the turnaround story. I'm surprised how, despite a circa 130% share price recovery since the last placing in May, BRD seemingly remains under the radar for nearly all investors. The number of participants on this board for example is no more than a handful. And yet the mkt cap remains a paltry £4 mn, for a company that requires no further fundraisings for either investment or working capital, and will be significantly cash generative in H2. Moreover, the resource at Kareevlei is estimated at around 360k carats, with a current mkt value (undiscounted) of £120 mn and a LOM of around 15-20 years. Moreover, the management believes there is scope to increase the estimated resource through additional drilling. You'll probably know that BRD diamonds are amongst the top 10 in the world by value per carat. But what I think people underestimate is the pivotal relationship with Teichmann, BRD's largest shareholder. I suspect this relationship is going to open a lot of doors for the company in the medium term.
tim000: I hadn't researched Firestone Diamonds (FDI) until today. FDI is a very much larger operation than BRD, operating from Lesotho. Its H1 results show that the company is (a) loss-making (b) heavily indebted, and (c) the producer of low-quality stones, with an average value per carat roughly one-fifth that of BRD. Not a good combination! A loss of power has closed down operations, and the resultant fall in share price means that the mkt cap (but certainly not the EV) is now less than that of BRD! The outlook for FDI shareholders looks grim. This reinforces the strong positives of BRD: a high-quality product that attracts premium prices; virtually debt-free; and a very low cost base resulting in high margins and sustained profits, even when the diamond industry as a whole is going through hard times. As producers such as the Australian Argyle mine close down, and the market tightens considerably, BRD is set to benefit from significantly higher prices in the medium term.
tim000: Delving back into the history of the company, it IPOd on 4/9/13, so just over 6 years ago. When listing, it issued 37471 shares priced at £35 each! The total share capital was 63050 and the mkt cap was £2.2 mn. So the company has managed to double its mkt cap in its first six years of being publicly listed, however the initial shareholders have suffered a 96% share price decline. (Hence why there are no institutional investors with a 3% holding - they've all been diluted away.) I guess quite a few investors have looked at BRD over those six years and decided the share wasn't for them. I hope some prospective investors are now looking at the company more positively!!! PS. Tim Leslie is the only surviving Director since BRD listed.
tim000: Nice, steady share price appreciation, and a tighter spread too. What is the point of MMs advertising a spread for BRD that amounts to over 10% of the share price? That's just ridiculous, and contradicts the whole purpose of MMs - to make a market. I think they should be got rid of completely.
tim000: Nico, the Interim Results published earlier this month state that the CLNs (nominal value £925k) are convertible into 416,885 shares @ £2.219. Total diluted share capital is thus 6.0222 million. People often mention fair value at £3 per share, a view that seems reasonable. Obviously that would value the company at about £18 mn fully diluted. Note too that fully diluted, the company will receive £3.656 mn from issuing new shares and cancelling outstanding CLNs. Given it had net debt of £200k at end-June 2019, it would then have net cash of about £3.5 mn. At a share price of £3, it would have an Enterprise Value of £14.6 mn. In terms of profits, the company is currently running at a throughput of 400k tonnes pa. Assuming 5cpht and a price of $400 per carat (which allows for a steady flow of large diamonds valued at circa $8000 per carat), annual revenue is $8 mn. That should generate EBITDA of £3-4 mn pa. (Total cash costs in 2019 H1 were £1.7 mn.) Taking the mid-point of that estimate, that gives an EV/EBITDA ratio of 4 for 2020, assuming a share price of £3. That's a good summary of the company today, from an accounting perspective. But note that the company has some exceptional intangibles, in the form of its new management, the quality of the diamonds it produces, and its pivotal relationship with Teichmann. So if you're not already a shareholder, I recommend you become one!
tim000: Has anyone considered this? BRD is still working through the calcrete overburden, so doesn't really know yet what lies beneath it. But BRD believes that the size and grade of diamonds is going to increase as they mine deeper. To date, the largest diamond discovered at Kareevlei was 25 carats and sold this year for $190k. Kareevlei is near Kimberley. The largest diamond ever discovered at Kimberley was the 616 carat Kimberley Octahedral diamond, sold in 1964 for $13.8 mn! I'm not speculating that Kareevlei contains such a diamond. But there's no reason to believe that the 25 carat diamond discovered to date will be the largest - indeed, that is most unlikely. So what happens were BRD to announce suddenly the discovery of a much larger stone, worth say over $1 mn? The inevitable conclusion would be that that was by no means a one-off, and that even larger stones awaited discovery. The share price might multi-bag on opening. Given a current market cap of only £2 mn, that would be almost certain. So holding some BRD is not only sensible because the company is already cash generating and profitable (since June), but because there is an embedded option-type value to the share, with the option to sell at say 10x its current price should there be an unexpected RNS of the kind described above. How many other companies can say that? Just a very few oilers and pharma I would guess.
cf456: Agreed. Judging by the share price action, the market isn't yet convinced and is still looking at past history, rather than at future prospects. But that's where the opportunity lies - buying in early before the market cottons on to the turnaround taking place. The market cap is tiny and the free float small so it won't take much buying to drive the price significantly higher. Possible also that there are some BRD holders who have their stock tied up with SVS Securities, so they won't be able to sell until that's all sorted. That would reduce the potential supply on any move up. So any good news and the share price could move up quickly. A new management team is now in place and since they've taken over there has been a dramatic improvement in results with production, grade and carats mined all increasing. So the company's fortunes do appear to be turning around and the optimism from the management team is palpable. Also of interest is that there are a few reputable investors as holders and bought into the story. On Twitter @BigGibUK, @The_MadStork and @Belcourtoi are all holders and have all historically demonstrated themselves to be shrewd investors. @BigGibUK is Wayne Gibson and he has a 3.68% holding: hTTps://
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