Diamondcorp Share Discussion Threads

[tiger60] 11/11/2015 22:32

Jaffa,

Please point out the erronous element of my postings? You have shown that arguing with the ignorant is a futile task.

[hpcg] 11/11/2015 21:58

Jaf, it is the performance of the company which determines the stock price. I used to refer to bulletin boards before investing or trading but now realise the chart is much more important. There are only a couple of things BBs help with - is the stock a cult (in this case no), or is there any suggestion of management corruption (again, no). After that the most useful thing a BB can do IMO is shine a light on the weaknesses of a company to help guard against disasters.

[wisecat2] 11/11/2015 21:24

Well done chaps, there seems to be light at the end of the tunnel. I'm sure we will all be friends again when the price finally starts to rise and tension dissipates. Can anyone explain the technical difference between the stockpile conveyor belt and the new important one please. Are they not connected or in line ? It's probably obvious but sometimes they aren't .

[jaf1948] 11/11/2015 20:37

Ged5,

There is also a chap on there who says that the pictures are not the underground conveyor system but the stockpile conveyor. However, I think you'll find that everything is OK in the morning....

[ged5] 11/11/2015 20:31

Thanks wisecat2 for pointing out the photo gallery. I try to keep a check on the website for updates but wouldn't have thought about the photo gallery for an important update.

JAF1948, I notice you post on LSE. Did Valency really talk to Louden and not mention the conveyor belt? Incredible!!! The same day he posted it's on the website.

[iicb] 11/11/2015 18:03

i dont mind it dropping a bit as it now allows me to get to the holding total i had orginally planned a bit cheaper than before. well I dont mind as long as they go back up again soon that is for sure.

[jaf1948] 11/11/2015 15:24

They said they weren't going to put out an RNS so to me that means it went live on friday as planned. Since, to my mind, if it hadn't gone live, that would have made a material difference and hence they would have had to RNS that.

I hope you follow my logic !

P.S. From another board. Check out this picture from the DCP website. It might reassure some people. hxxp://www.diamondcorp.plc.uk/investors-and-media/photo-gallery

[wisecat2] 11/11/2015 15:18

Maybe they have to do a certain tonnage before they can say its commissioned. Anyone know?

[wisecat2] 11/11/2015 15:16

Calm down guys, looks like the conveyor belt's up and running. First development kimberlite from UK4 Block to stockpile by conveyor belt November 2015 on website photo gallery.

[jaf1948] 11/11/2015 14:49

Are you that insecure with your DCP holding that you need constant reassurance from the BoD ? Would you like them to tuck you in every night and tell you that everything is going to be alright ?

Every RNS not only takes money but a great deal of management time and effort, so they try to minimise them. If that makes you uneasy, then maybe DCP is not for you.

P.S. None of us are enjoying watching our investment go down.

[tiger60] 11/11/2015 14:36

If they have any good news they really have to get it out there. The cost of an rns is negligible against the start of building some positive momentum.

[jaf1948] 10/11/2015 07:12

There will not be an RNS on the conveyor belt.

[hpcg] 09/11/2015 23:50

tiger - I don't think the cost of an RNS is justified for that. Next news should be the interest roll up confirmation, or something about the resource work, and an operational update can be attached to that.

[tiger60] 09/11/2015 21:17

So do we have a working conveyor belt or not?

[tiger60] 07/11/2015 17:35

Hi Jaffa,

Great debate. Must do it more often.

[jaf1948] 07/11/2015 17:09

If I had wanted jaffa as a nickname, I would have chosen it.

We clearly will never see eye to eye on this. You see half empty, I see half full. You see management failings, I see day-to-day mining problems. On any project plan, if there is a delay on one component, then it is perfectly normal to expect a knock-on effect throughout the rest of the plan - if the delay is on the critical path, the effect is even more pronounced.

When I feel that management are not doing a good job, I talk with them and find out what is happening (in as much as they can legally tell me). What I don't do is write it on a public board. I try to protect my investment - you take a different approach.

[tiger60] 07/11/2015 16:10

Jaffa,

Lets take the most important one first. The financing.

The fact management have said they are positive and expect no issues is a given. Stop being so naive. Do you really think they would say anything else. This is also backed up by historical quotes from the management. for example stating we are fully funded - remember that one, or that Production at the end of the first half of 2015. They have missed numerous deadlines set by themselves and always erred on the positive side of the spectrum to put it mildly

I haven't seen the loan agreement between DCP and financiers but i presume it is a term loan or project financing deal. Either way the repayment schedule is defined and the covenants cover any breach of repayment. They would of also taken a guarantee or more than likely collateral. Now they don't want to take over an uncompleted diamond project but they will be in a strong position to demand hefty fees off DCP for any restructuring deal. At least with a term loan there is no quarterly commitment fee payable in arrears as the unutilised portion is zero for term loans but there will be a utilisation fee.

The financiers will know that DCP would be hard pushed to get away another placement at a decent price in light of the one just a few months ago. Other types of financing also seem to allude DCP so their bargaining position is not good. All we can do is bend over backwards and hope they don't shaft us too hard (too push for too much to the detriment of DCP future plans would in effect shoot themselves in the foot but they will get their pound of flesh)

Do not be so naive and believe if the management say something it must be true. You have seen over the last year that many of their future dated statements have been horribly wrong.

As to a seller I can't prove it. It is my opinion as that is what this boards are for. A consistent number of block sells have been going through the books over the last few weeks. Only a RNS statement once a threshold has been passed would give 100% proof. It may come. It made me laugh when i read on lse the % of institutional investors stated. If Barclays are stated as a holder it is all the nominee members they represent, likewise sharecentre etc. they are holding on our behalf, but I deviate from the 'debate'

I was right about China, the fall in the share price , the timing of RNS and impact on SP, conveyor belt etc. Fair, objective and right. How about yours?

I will also state I am a large shareholder and desperately want them to get it right but the maxim under promise and over deliver seems to be a concept mgmt ignore time and time again to our detriment. It looks on paper a great asset with superb potential margins and that is what keeps me in. I just wish mgmt would join the party, or at least learn from their mistakes. Take the conveyor belt. 13th October after delay upon delay they state it would be complete at the end of october. On 3rd nov we are told the end of this week (friday or Sunday?). If there is no rns on Monday someone should be pushed. Timelines are hard to give in mining but if you say on Monday electrical work will be complete at the end of the week you must be pretty dammed sure it is a relatively small amount of work to complete. Lets start the good news on Monday.

[jaf1948] 06/11/2015 16:12

tiger60 No.1483: 'If you want to debate dcp that's fine but keep your silly assumptions to yourself.'

OK, I'll debate DCP.

tiger60 No.1485: 'Unfortunately there is still a 'seller'.'

That is an assumption. There is no evidence that there is only one seller. If it is not an assumption, the only way you would know for sure is if you are that seller. If there are many sellers, that is the way the stock market works - some buy some sell - so it is not worth mentioning.

You say 'The biggest worry is financing.' The CEO says 'Management do not expect any issues with respect to being granted this (interest roll-up) request.' So clearly not their biggest worry. Nor the Analysts who have not altered their position from 'Buy' after the last RNS.

tiger60 No.1483: 'I have always given a fair and objective viewpoint.' If only !

[tiger60] 06/11/2015 13:26

Unfortunately there is still a 'seller'.

I honestly thought yesterday and today we would see a little recovery.

It would be nice to see some director buys considering they told us what a great opportunity the open offer price was. Well now it must be even better... Pl?ew?

Also need the rns confirming conveyor belt. First deadline end of oct, then end of this week. Based on the fact that the last timeline was given just a few days ago they must be able to hit this one?

The biggest worry is financing. We need that agreement with existing lenders ASAP and at terms that are not too punitive. Maybe a one off restructuring fee

[jaf1948] 06/11/2015 08:33

Very strange this morning. I cannot even buy 25,000 on-line. Is anyone else having this problem ?

Edit at 08:43. As soon as they lifted the bid to 8.25p, the shares were available to buy. Oh what a surprise.

[tiger60] 04/11/2015 14:56

Jaffa saw on Iii you are suggesting I am trader123. Again like most of your comments completely wrong.

If you want to debate dcp that's fine but keep your silly assumptions to yourself.

Your continued insistence that delays don't matter would only be correct if you don't value your investment, which is obviously not the case.

I have always given a fair and objective viewpoint. In fact a lot of my posts have subsequently been proven true. Other than cheerleading you fail to add any insight or analysis of the company.

[iicb] 03/11/2015 19:06

fair point jaf. just feel like loudon has blown confidence wide apart today with yet another poor RNS. need a beer i think, had high hopes for this stock and feel its about to become another poor excuse for an AIM stock in time.

[jaf1948] 03/11/2015 15:08

As I said, some people do. I think the price went up too quickly egged on by traders who then started ditching when the delays started.

On the question of momentum blown, it all depends on your horizon. From when I started investing in DCP over 4 years ago, we are now so far down the line that a few months' delay is of no issue whatsoever. If, on the other hand, someone only came into the company in the summer, then yes, it seems like the company is not in control.

Nothing in today's or the last quarterly review are a show-stopper. If there had been anything, the share price would be much lower than 8p and I would no longer be holding either. There have been delays, which, to be totally honest, I had always expected would come in a major mining project like this. On the other hand, it doesn't diminish my belief in the company and its very profitable future.

But as I said at the start, I can understand why not everyone would agree.