Cape Eu-eur Discussion Threads

[andy] 03/2/2007 12:47

liveit2,

yes you are correct, it seems they are just making it up as they go along!

WHI will be losing credibility here IMO, I wonder how much DD was done before they grabbed their fees?

I wonder if the warrant issue mentioned has anything to do with the (IMO) inflated fees paid before thee float?

=------------------------



RNS Number:6665Q
Cape Diamonds PLC
02 February 2007


Cape Diamonds Plc ("the Company")

2 February 2007


Update re: Final Results


Further to the announcement released to the market on 22 December 2006,
publication of the results for the year to 30 June 2006 has been further
delayed.

The delay is due to a number of factors including consideration of the financial
and accounting implications of the warrants issued prior to float, changes in
minority interest and the re-negotiation of the Black Economic Empowerment
("BEE") deal.

At the same time, the Company is in the process of recruiting additional
directors. The Company intends to publish its financial results once it has
announced the composition of its new Board.


END


This information is provided by RNS
The company news service from the London Stock Exchange
END

NORKGGGZKZKGNZM

[liveit2] 02/2/2007 22:32

Interesting statement today - it doesn't say who put it out - I wonder who signed it off - I didn't think they could do that, but hey this is AIM and anything is possible

[gowermonkey] 02/2/2007 09:09

Whichever way you look at it WHI are to blame.They are obliged to do due dilligence on any company they bring to market.Clearly they have not. No doubt they will say they were hoodwinked / misled by Cape and try and wriggle out of it but they clearly havent done the proper checks on the situation with regard to this company before pilling their clients in.IMHO

Whats more they were buying the stock for at least some of their clients whilst it was in free fall !!

[liveit2] 31/1/2007 18:58

Due to delays in the preparation of accounts for the year to 30 June 2006 the
Company will be unable to announce its results until January 2007. Accordingly,
it has asked for its shares to be suspended until the full year results can be
issued.

Will the calender be redefined in support of Cape? or was that a deadline that we just missed?

Interesting that the above statement came from WHI - so is it Cape or WHI who's to blame? who do you ring to get answers - can they hide from us?

Richard - what happened to you, you've gone very silent, why is that? have you been gagged or what?

I shall buy the Telegraph tomorrow to find out - let's hope there's 1/2 an article at least !!!!

This is now starting to smell quite bad.

[seagreen] 30/1/2007 11:32

Not going away this one....who needs an agent when one of the most talented fundmanagers of a large US resources fund is known to everyone...you would have thought WH Ireland would have chosen to phone him direct or even bought him dinner themselves?

[gowermonkey] 29/1/2007 11:11

WHI have put their investors into this one seemingly without doing their homework on the company.It would be tricky for them to resign and have to explain this to clients who have seen their investments disappear.

James Picton not liking the asset makes this even more suspicious (caiman) He actually advises WHI brokers in house .For him to not like it begs the question why did they take this one on and why sell it to their clients?....the answer is of course fees IMHO.

It stinks

[andy] 23/1/2007 18:13

caiman,

WHI can resign without another broker being appointed, it happened with NML!

And they couldn't find one, and they had to delist.

[andy] 23/1/2007 18:10

Gowermonkey,

Are you sure WHI involved Alex Chapman?

I would have thought that highly unlikely personally, as she represents Baret, who are not FSA registered.

I would have thought the London broker network would not want to work alongside an unregistered company such as Baret, as that would surely mean they themselves would earn less fees.

Interestingly, Alex Chapman used to be the Investor relations officer for EPD!

[caiman27] 23/1/2007 14:43

I suspect that WH Ireland would be delighted to drop this one but are unable to in the absence of anyone else wanting to take it on. James Picton is not a fan of the assets.

Tim Cofman (spelling checked with FSA register) is ex Hoodless Brennan, for what it's worth.

[gowermonkey] 23/1/2007 13:40

This is one I ve cut and paste myself from another board / source not my words i hasten to add but now in the public domain .


i think we can relax. rumour has it that there is nothing problematical about the fin stats - apart from the incompetence of the WH Ireland placed John Ver* and Robert Stubbs who failed to sign off on time. This partly explains their resignations. Aside from this I am getting increasingly concerned that there are dark forces afoot against the co trying to force down the share price for whatever reason, and I think it very possible that WH Ireland may be implicated.

It is strange that a mine that has been profitable since October and results improving in line or ahead of prospectus receives no positive press coverage, and no positive share price movement. Regularly huge turnover of shares has created little or no upward movement where minimal sales have created share price collapses: I think we can be fairly sure that there has been shorting of the stock.

It should be clarified that WH Ireland requested the hiring of Alex Chapman of which there has been so much negative comment.

Someone clearly planted the telegraph articles for whatever reason.

WH Ireland have singularly failed to market the stock one iota.

They have been promising an article from lead analyst James Picton since July, which once needs to give up waiting for. Isn't it strange that they floated a stock at 2.50 - it meets its operational targets, and there is not a word in their investment newsletters recommending the stock that is now available at less than half the price?

If you have ever spoken to Jim Kofman from WH Ireland you will know how negative he is about the company. He implied to me that there is something wrong with the fin stats, that they might need to resign, that there were problems because of the directors resignation etc. He also misled me that Alex Chapman was nothing to do with WH Ireland.

I have strong reason to beleive this is all rubbish. I am fed up with the fortunes of a very good company in the hands of this incompetent malevolent idiot. The sooner WH Ireland is out of the frame the better.

[liveit2] 22/1/2007 21:37

gowermonkey have cut and paste your post to teo thread - hope you don't mind

very informative - what's your source?

[andy] 20/1/2007 13:18

vermillion,

Do you have any updates please?

[gowermonkey] 20/1/2007 11:46

Well Done WH Ireland !!!! Another stunning success

[sparky25] 17/1/2007 11:26

Anyone got any ideas what is going on here?

[andy] 12/1/2007 14:56

vermillion1966,

Can you please confirm whether that is a statement or a hunch?

[liveit2] 12/1/2007 13:25

More interest in the outcome - I am pretty sure it won't be the end - Does your information come from the company or guess work?

[vermilion1966] 12/1/2007 11:33

Statement due from the company within the next 7 days - should be trading again within 14. Funds intact, so not the end of Cape.....yet

[liveit2] 12/1/2007 10:32

and the next instalment - surely the fat lady has to start soon

[seagreen] 12/1/2007 09:05

The story aint over till the fat lady sings......8-)


Damien's comment below ...how true how true

Cape Diamonds looks to be its losing its glitter

Non-exec directors leave Cape
A certain type of shiny precious stone is supposed to be forever but Cape Diamonds, the mining company, looks as if it's losing its glitter. What looked like a curious tale of how an unauthorised "introducer" had been paid £600,000 for raising £12m of the company's £16m float proceeds has taken a new twist.

Yesterday three non-executive directors to the company all resigned. No explanation was given, but suffice to say all is not well in the boardroom.

I like reading a good mystery as much as the next person but for a quoted company this is not good enough. There must be more to this than a one-line statement. Shareholders deserve to be told the full facts.

[liveit2] 11/1/2007 22:39

Richard - It looks like your digging has resulted in some resignations - now I await your next instalment

well done

Seagreen - either more resignations to come or accounts due now- let's hope the latter

[seagreen] 10/1/2007 11:01

10/1/06



and second paragraph




might get the accounts out now they know what the £600k was for...LOL

[andy] 05/1/2007 13:20

quixote,

Not sure who you are refering to!

I just joined the general ADVFN group in the bar, and there were some people there that I had met at previous functions.

[rfletcher] 05/1/2007 09:29

Richard Fletcher, Deputy City Editor at the Daily Telegraph, would like to speak to small investors who have lost money investing in Cape Diamonds. Please call 0207 931 2719 or e-mail: [e-mail]