Diamondcorp Share Discussion Threads

[wisecat2] 11/12/2015 08:14

Petra was very encouraging today. Some city commentary that we could be seeing the bottom of diamond prices.

[jaf1948] 08/12/2015 07:25

Disappointed ? You and me both !

[iicb] 08/12/2015 00:13

Yes they handled it ok admittedly in what they said. Seemed honest which is refreshing, but it needed to be. Mixed opinions currently. Just disappointed I suppose to have lost a lot of money.

[jaf1948] 07/12/2015 20:42

iiCB,

That is a matter of opinion. I do not blame management at all for the delay or the cash calls as I know that it was out of their hands. On the contrary, I am delighted how they handled the adversity. As to losing investors, I don't think the delay will have deterred many long term holders.

I understand your viewpoint but I don't agree with it. Which of us is correct ? I'll tell you this time next year !

[iicb] 07/12/2015 19:52

sadly that reflects badly though on management jaf. probably have just lost lots of investors here in the last few months. people dont like missed targets and multiple cash calls at different levels.

[jaf1948] 04/12/2015 14:22

I know some people think the company already knew about the problems when the 10p offer was made. I don't know one way or another but I would have thought some of the larger buyers might have done some digging (no pun intended) before they bought, and even more digging when the delays were announced, but have never seen any proof, only rumours.I personally do not believe there was any subterfuge, but I know others are not convinced. Like many others on here, I bought more during the 10p offer and although it looks awful on my spreadsheet at present, I hope I will be glad of the extra shares by this time next year.

[iicb] 04/12/2015 14:06

yes it does appear people are very comfortable to back DCP. just wish they hadnt taken us for a ride at 10p giving them away now at 6p and putting us suckers on heavy losses currently.

[jaf1948] 04/12/2015 07:12

They stated 'fully funded' before the 4 month delay during which they had to spend money getting the mine into a workable state. As I said, there is no way they would have had that spare cash so of course they had to get the 'begging cap' out.

Again, IMO, the fact they raised the money so easily gives me more confidence not less.

[iicb] 03/12/2015 22:00

They once stated fully funded, now in 6 months they got the begging cap out twice. Shares have lost 50%. Will this time be enough? Who knows what to believe anymore. Hence loss of confidence currently.

[iicb] 03/12/2015 18:28

feel a bit conned and lost a bit of confidence in management.

[ged5] 03/12/2015 18:08

Too cynical to have any emotion about stocks these days. They allowed us to take part in the 10p offer. No chance in this heavily discounted offer!!!

Let's just hope they find some of those fancy pinks they've been telling us about for a long time.

[jaf1948] 03/12/2015 16:26

Placing at 6p.

[jaf1948] 03/12/2015 15:24

Is it only me that feels a great sense of catharsis after these announcements ?

[ged5] 03/12/2015 13:42

Conclusion: Renegotiation of the IDC loan is good news – delay in paying the loan will result in higher payment terms raising the overall cost of the debt payment. The fund raise is to meet the working capital short fall as a result of delayed production as already signalled. Coupon payments are to be made to convertible holders and a coupon paid on the Tiffany loan which will be partially funded from the equity fund raise.
Shareholders are likely to be supportive given the amount of work already done on the mine to get to first production with a credible ramp up schedule set out by the company and in line with our expectations.
Current assumptions for a US$150/carat valuation based on a 1.00m bottom cut off although lower volumes and a higher valuation could be established should the company optimise the cut off form 1.00m to 1.25mm.

[ged5] 03/12/2015 12:31

Thanks JAF and hpcg for your replies. Much what I thought. Just that I haven't seen so much jargon in an RNS before.

Given that the first tranche are due to be listed next week I would have thought placees have been sorted by now. Probably explains some of the large trades recently.

[tiger60] 03/12/2015 11:23

The problems were known in June/july

[here and there] 03/12/2015 11:09

and the debts are higher, the dilution is greater and the price of diamonds is lower

[jaf1948] 03/12/2015 10:25

hpcg,

I don't think anyone has said everything is OK. IMO, I feel that things are not as bad as some people are trying to portray. As I said, the share price is the same as it was this time last year but we are now much closer to production.

But people will have different opinions and that's what makes a market.

[hpcg] 03/12/2015 10:13

The Important Information is just standard legal stuff. The announcement is not in any way a prospectus, there won't be a prospectus, not to be read in jurisdictions which don't allow that type of announcement and so on.

I will say good on the management for releasing the announcement last night and this morning, even if I did have to read through twice to check it was the same. I also have to agree with tiger60, the happy clapping everything is OK approach doesn't wash. Save that for the fraud stocks and the ramp stock.

[jaf1948] 03/12/2015 08:58

Ged5,

Like you, I have read that section a couple of time and am still not clear. I presume it is simply a long and legalistic CYA operation, if you pardon the expression.

[ged5] 03/12/2015 08:42

Can anyone explain what the "Important Information" section means and why it had to be included?

From the price action this morning it looks like 6p may be a reasonable placing price. An extra 67M shares needed then. That would give us a total of about 440M.

[jaf1948] 03/12/2015 08:23

The diamond price hasn't help, but the main problem was the 4 month delay. No AIM company will ever have enough cash contingency to cover something like that. IMO, our BoD have done the best they could have in the circumstances.

[smarm] 03/12/2015 08:14

The problem here is the falling diamond price.

S

[ridicule] 03/12/2015 07:54

tiger60 Calm down. They hit unstable rock and conveyor belt problems. That is not a disgrace, it's called mining.
The institutions committed at 10p to the last placing and you could not buy at the time, but could buy at a 30% discount subsequently. Given they are now closer to quantity production, a similar further discount after the initial drops that will inevitably happen today and with the second placing are unlikely. The trick is to assess the optimum top up price to ameliorate the effects of significant dilution.