Diamondcorp Share Discussion Threads

[keifer derrin] 13/1/2016 23:21

and maybe just look at the shareprice....... :-)

[jaf1948] 13/1/2016 18:19

I suggest you go onto the LSE board and read back through the comments from Valency who has just visited Lace and spoke to the management there. You may change your opinion after that.

[iicb] 13/1/2016 17:26

It's quite concerning how badly they managed to destroy the share price.

[iicb] 04/1/2016 14:45

why havent they still produced a decent bag of carats due october yet?

[ged5] 31/12/2015 09:43

A little bit of buying these past few days.

[jaf1948] 26/12/2015 10:59

Ged,

Thanks for the reply. You put everything into perspective and I wish everyone a happy and prosperous 2016.

[hutch_pod] 24/12/2015 22:05

Here's to 2016, maybe the year of DCP :)

But yes, perspective is always key, can only agree Ged.

[jaf1948] 23/12/2015 08:59

Ged5,

I hope you are right, especially after OXS this morning. I am still waiting for the updated resource report which we were told on November 3rd would be before the end of the year.

[wisecat2] 23/12/2015 06:59

Petra and Gem up 15% yesterday. Some confidence coming back to diamonds and commodities selectively

[iicb] 22/12/2015 23:36

Loudon has a LOT of market confidence to restore, they destroyed it 2nd half of 2015.

[keifer derrin] 16/12/2015 10:42

my average at the moment is .785p - should have sold at 13p and bought again - but I'm not a trader I prefer long term view.....hence why I haven't sold....

Here's hoping that management start coming out with some decent RNS - I have bout a lot of mining companies over the years and have won some and lost some. I also appreciate it's never clear sailing - but imo management haven't handled the bad news very well with the constant drip drip of bad news - although I have no idea how else they could handle it, but lets hope that 2016 is a better year....

good luck....

[jaf1948] 16/12/2015 10:32

Ged,

DCP used to under-promise and then over-deliver. 2015 hasn't been their best year for that (understatement) so I am not totally convinced we will get the report before the end of the year but they have said nothing to the contrary since that RNS.

I too have bought more on the drop. Whether that was wise or not, I shall soon know.

[ged5] 16/12/2015 10:23

Thanks JAF.

I also noticed this from the same statement:-

"Processing of K6 and K4 kimberlite from development tunnels in the UK4 Block continued during the period and management continues to be pleased with the quality of the diamonds recovered."

Maybe we will be pleasantly surprised.

Come on keifer get your average down! ;)

[jaf1948] 16/12/2015 10:06

Ged,

There have been plenty of people blaming management both here and on other boards but that's in the past now (I hope !).

The November 3rd RNS stated 'Management is committed to ensuring that the finalised document is without qualification and comprehensively presents the potential of the Lace project when being assessed by analysts and the investment community. The report will be completed by year end.' So that's why I think it will be this year.

[ged5] 16/12/2015 10:02

Looks like others are doing just that. Low volume but buys:sells is approximately 6:1

[keifer derrin] 16/12/2015 09:53

and the markets don't like it hence the share price is down 50%.....

lets hope 2016 is better for this stock....might even average down.....

[ged5] 16/12/2015 09:42

Good morning JAF.

I'm not sure if anyone is blaming management for the delay and most certainly not for the ground fracture.

I agree with the positive points you make and I do think that Louden is doing the right things. What makes you so confident that we will have a resource statement soon?

I don't think dwell on the past is the correct expression to describe my reference. Things I've taken on board this year is to look over past announcements and to be very wary of over exhuberant directors.

Today may be the start of good news although I don't expect too much before the General Meeting.

[jaf1948] 16/12/2015 09:02

Ged,

I don't think the company can be blamed for the uneven floor or the enhanced safety requirements but I accept that the bottom line is that we are the best part of a year behind schedule.

On the plus side, during that year we have improved the mine's safety, labour relations have been settled, cash flow has been stabilized and, hopefully, we will soon have an upgraded resource statement.

It has been a frustrating year for all of us and the share price has duly suffered. Today marks the start of the next phase of DCP - let's not dwell on the past but look forward to a more prosperous future.

[ged5] 16/12/2015 08:44

I see the market is as underwhelmed as I am. No doubt if this announcement had been at the start of 2015 there would have been a sharp rise today.

This from July 2014 shows we are now 12 months behind what was a revised schedule:-

"The scoping and mine design studies on the Upper K4 ("UK4") Block have been completed and confirm the potential for commercial ramp up from underground kimberlite mining. This can start in H1 2015, six months ahead of schedule, with steady state production of 30,000 tonnes per month achievable by H2 2015."

It is however important that at long last we have started production and it's easy to see why Louden is quite excited.

I can't see a resource update until start of the second quarter but who knows we might have a pleasant surprise for once.

[liquid millionaire] 16/12/2015 07:30

DiamondCorp plc

AIM share code: DCP & JSE share code: DMC
ISIN: GB00B183ZC46
(Incorporated in England and Wales)
(Registration number 05400982)
(SA company registration number 2007/031444/10)

("DiamondCorp" or "the Company")

LACE MINE RAMP UP COMMENCES FROM UK4 BLOCK

DiamondCorp, the Southern African diamond mining, development and exploration company, is pleased to report that production ramp up has commenced from the Upper K4 Block ("UK4") at the Lace mine, in the Free State Province of South Africa.

The first UK4 production is coming from the 310m level, where the slot is being opened up to the drive vertically above it on the 290m level. Once the slot is mined by the end of Q1 2016 and all trough tunnels completed during Q2 2016, longhole ring blasting for production troughs will commence.

UK4 production from January 2016 to the end of March 2016 is scheduled to average 4,000 tonnes per month: April to June 2016, an average of 15,000 tonnes per month, then full production of 30,000 tonnes per month from July 2016 onwards.

DiamondCorp Chief Executive Officer, Paul Loudon, said: "Today is an historic day for the Lace mine as it marks the start of the ramp up towards commercial production from underground at Lace for the first time since October 1930. Production to date has come from access development and tailings retreatment; from now on production will be dominated by mining development, stoping and block caving."

[hutch_pod] 15/12/2015 14:08

Thanks for the link Ged

[ged5] 15/12/2015 08:16

I've put a link in the header to the fifth annual report on the global diamond industry prepared by the Antwerp World Diamond Centre (AWDC) and Bain & Company.

Apparently diamond companies refer to this report. Worth a read in its entirety when you have time.

The DCP website has also been updated.