Diamondcorp Investors - DCP

Diamondcorp Investors - DCP

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Diamondcorp DCP London Ordinary Share GB00B183ZC46 ORD 0.1P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 2.05 00:00:00
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Top Investor Posts

tiger60: I have been out and out for a while but still lost a little. Not sure anyone comes out of this with any credit. But even though i hold no shares i can still be angry for the private investors and at the bullish posts by some that preceded this suspension. It is just plain wrong to keep voicing the upside whilst ignoring risks. The modelling figures were quoted by many as virtually factual when they failed to meet any of their forward statements. It annoys me that this is deemed acceptable by the company and individuals. To have no finance director was bordering on stupidity. The naivity of posters on lse trying to contact the company and supporting a placement at a premium is just sad. A feeling of impotency has been replaced by desperation. I feel the management badly let down all investors - there will be no reprieve in its current guise. Small invesors will be wiped out in my opinion So yes i did bail my motive for posting is genuine concern, can others say the same?
ridicule: What about a 'crowd funding' approach? Let's say each shareholder loans 25 per share with a special dividend warrant awarded for repayment at 40p per share in 4 year,s time. The deal would only apply to those investors who joined the scheme but it might just save the Company. This would be more attractive to me than writing off my entire investment. A book building approach could be taken to assess the level of commitment over, say, 7 days.
goldpiguk: Hi iiCB, Your question in yesterday's first post says it all. PI's holding these shares are gambling not investing. Until the complete funding details are published with the extent of any dilution, or a bid made for the company it is impossible to estimate what value the shares potentially have. Private investors who hold AIM shares often feel cheated and with good reason. The larger players often end up walking away with the prize. I hope you are a lucky winner but I will be keeping my chips off the table. Goldpig
h2owater: http://www.miningmx.com/top-story/28224-diamondcorp-hopes-shareholders-will-avert-near-term-bankruptcy/ However, sources said hopes remained high that the company would firstly find short term funds to pay creditors, and then stabilise its medium-term financial outlook by attracting an investor. “The near complete production ramp up is a key determinant in believing that funds will be forthcoming,” a source said who didn’t want to be named. “Shareholders could not be so stupid as to let the company hit the wall with production this close,” he said. “The negative reaction is way over the top.” Nonetheless, DiamondCorp has warned that it is fighting for survival. DiamondCorp has good institutional support with Barclays Wealth, Black Rock Asset Management and Legal General and Investment holding shares in the firm. “We believe Paul Louden (CEO) and his team have worked tirelessly to get the Lace mine into production and, given, geological challenges, they appear to have done a relatively good job,” said share price Angel, a UK stockbroker, in a note today. “We hope investors will have the fortitude to back the company through this critical phase to ensure the survival and longer term success of the company,” it added.
h2owater: [...] DiamondCorp: Section 54 cliff hanger as shutdown closes mine at point of urgent funding • Just as I was getting ready for an invite to the next mine tour, DiamondCorp report a fire in an underground dump truck, though it’s hard to envisage much of a fire in this relatively wet mine. • Rather unfairly, the DMR, Department of Mineral Resources, has kindly slapped a Section 54 shut down notice on the mine, closing the operations in this most critical of financial phases. • It sounds as if the fire was put out quickly without much incident and it may be that the DMR were waiting for an excuse to get inspectors into the mine • The DMR say they want an external ventilation and audit team to inspect the mine. Management expect the mine to be shut for at least a week. • Personally, I’m hoping to get an invite for a future next site visit. I’ve ordered a snorkel and flippers and was idly wondering if it’s better to pack board short or speedos for the underground tour, though hopefully standard issue wellingtons with those steel toes caps will be as much as anyone will need. • It’s a long way down the bottom of the mine these days so I’m hoping the pumps have been properly greased and are working well as well as the kit can. • Warmer weather in the region should at least mean that water from passing rainstorms is at least bearably warm by the time it flows through the old workings and into the lower levels of the underground mine. You never know, if the water flow is strong enough you might get a few micro diamonds washed through in the process. • More seriously, we hope the Industrial Development Corporation ‘IDC’ is minded to restructure the finance payments and that investors / offtakers will stump up the cash to cover the cost of reduced diamond production while the miners clear the overhanging rocks. • The recovery of some larger and more valuable diamonds indicates the mine should be worth rescuing and it’s not much of a surprise that the mine is suffering commissioning issues as it ramps up to target ore production in the lower levels. • Management are looking to strengthen the team through the addition of diamond mining development and corporate finance expertise. We recommend Eric the Eel, as we know he can swim. • Funding: DCP are going to need to find another £500,000 in short order to cover costs and £2.5- £3.0m in the medium term as previously announced to help get the mine to positive cash flow. Unfortunately for the company the investors who were looking at the provision of short term funding have walked away meaning that the company needs to find another investor in very short order to continue trading. • We believe Paul Louden and his team have worked tirelessly to get the Lace mine into production and, given, geological challenges, they appear to have done a relatively good job. We hope investors will have the fortitude to back the company through this critical phase to ensure the survival and longer term success of the company.
goldpiguk: Hi, Having been an investor here a few years ago I still receive emails from DCP when they put out a statement so though I would look in here after receiving an email today. I have the greatest respect for Paul Loudon, but his imperative has always been to get the mine up and running. It is a personal goal for him and a matter of pride. I sold my shares four years ago when I felt too much of the future profit potential was being taken away from holders of ordinary shares. A tie up with a larger diamond miner with Loudon giving up control would have provided a far better outcome. Lace is a world class asset, but that does not mean shareholders will ever see much, if any return on their investment. I will continue to keep an eye on DCP but would need to look very carefully at the numbers - Loans, outstanding bonds that if I remember correctly paid 10% per annum, offtake agreements, future dilution before allocating any funds again to this enterprise. For the ordinary shareholder all too easily pink diamonds could turn into white elephants. Goldpig
iicb: well, ive been here a few years now, and ever since it hit 12p, it has been awash with disappointment. its become neverending, every RNS is a worry from Loudon. i think sentiment now will be hard to turn, three strikes and youre out and all that, PL is now on 4 strikes and how many more? that is the problem, how many more? investors have left this company in their droves the past month. and for a good reason. what a sad story this has become, so much promise, but so many problems and bad management.
tiger60: The worst part is that they took so long to announce something that others allegedly knew weeks back. All those talking about investor panic were wrong those were the holders leaving who allegedly knew. Just sad.
darcon: If someone were to come along now and make a cheeky offer at a price close to 7 pence (the price DCP were using in their presentations to investors not so long ago) I think they would stand a good chance of success. One of the other diamond companies could make a shares for share offer giving shareholders the opportunity to retain some of the upside. It could be a transaction similar to the one that Perseus struck with the cash-strapped AMA which could unlock value for both parties' shareholders. I see that the CEO of MPH Consulting is a non-exec on the board of Firestone Diamonds. Their MCAP relative to DCPs would allow them to easily swallow DCP. Could they become a suitor? The current low price and market nervousness also creates an opportunity for a potential suitor to stake-build without risking a higher bid price as a result.
tiger60: We know they need financing. A placement at 4.5 or a punitive rate on a short term loan. I dont think this is investor panic but those on lse keep on making excuses.
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