Diamondcorp Share Discussion Threads

[darcon] 26/1/2016 07:34

That's an encouraging update. It seems the company brought forward this update by a couple of days. I was expecting the update on the last day of the month. But Tuesday is definitely a better day to release positive news.

[jaf1948] 26/1/2016 07:18

RNS this morning:

- Production ramp up from the Upper K4 (UK4) Block continues on schedule to achieve full production of 30,000 tonnes per month by July.

-- The conveyor belt system is operating to design specification and mining of the UK4 is proceeding without any issues with respect to ground conditions.

-- The diamonds recovered from initial processing are meeting expectations in terms of colour and quality, including three stones larger than 10 carats, the largest of which was a 22.11 carat H coloured stone.

-- This diamond has been sold into the Company's South African beneficiation joint venture for $5000 per carat with a view to recovering an 8 carat emerald cut stone after cutting and polishing.

-- To date, a total of 7,449 carats of diamonds have been accumulated from bulk testing and initial production (see photograph on our website at www.diamondcorp.plc.uk).

-- Diamond market sentiment has started 2016 in a reasonably positive mood as supply management by the major producers appears to have resulted in renewed demand for rough diamonds in certain size categories.

-- The Company's resource statement update was impacted by the Christmas shutdown by processing laboratories in Johannesburg. All microdiamond data required to complete the statement has now been delivered to the Company's consultant and the document is awaiting his final input.

[darcon] 26/1/2016 04:23

I don't believe the directors would have invested GBP 100k of their money in the last placing if the diamonds were not there.

Delays in ramp-up have caused delays in getting sufficient diamonds for the Company's maiden sale. The maiden sale will feed into the valuation so it surely is in all our long term interests for it to be a good one with a decent package of diamonds for sale.

Valency on lse has made some intriguing comments regarding the capex and its strategic implications. Could the additional work on the resource statement be driven by the same strategic objective?

[jaf1948] 25/1/2016 20:28

iiCB,

I understand what caused the delays, what necessitated the cash calls and why we haven't sold any diamonds yet. I am disappointed with the share price at the moment but I believe that it will recover this year. Therefore I am staying invested.

You have a different opinion. Fine. Let's see who is correct at the end of this year.

[wisecat2] 24/1/2016 17:01

De Beers is to break with decades of secrecy over the state of the diamond trade as it prepares to divulge details of sales for the first time.

The miner and diamond trader hopes that publishing revenues from regular sales events, known as sights, will help to underpin a recovery in the diamond market, which has suffered from a slowdown in demand, build-up of stock and falling prices. Online article on FT.com

[ged5] 24/1/2016 16:53

I used to be registered but I lost my password many years ago. I'll just stay here.
Whilst watching Ars v chelsea (can they really mess up a title challenge again?) I thought I might make a few comments.

Anyone who goes to so much trouble deserves some debate.

Valency visited Lace at the beginning of the year and reported on his visit. He has now posted 9 pages of his research and thoughts.

It was noticeable that he agrees with us that we should have more communication.

"The abruptness with which change in funding (1st Placing & Open Offer 2015) and the comprehensive swing in strategy that ensued requires stronger indicators, than have been advised to shareholders to date."

Interesting that someone who just visited the mine is suggesting this:-

"The ‘old economics speak for themselves thus, I feel that exploring the possibility of unsolicited interest from an entity requiring higher volumes than our initial production plan of approximately 0.5million carats/pa is worth considering and looking into? "

Grandson just arrived will continue at later date.

[jaf1948] 24/1/2016 13:27

Good afternoon, Ged.

You should join that board and thank him yourself - it is free to join !

[ged5] 24/1/2016 11:45

Good morning JAF,

I've glanced through Valency's posts. Please thank him/her for the effort that has been made. I'll go through in more detail later but please point out in the post at 12.28 the market cap should be in sterling not dollars.

£173.7=$248.3

[jaf1948] 23/1/2016 10:21

iiCB - 22 Jan'16 - 21:36 - 1596 of 1596
seen nothing so far in over 2 years apart from multiple cash calls, losses and SFA diamonds.

iiCB - 12 Jun 2015 - 16:05:25 - 1253 of 1597
The instant bounce back shows you how this stock is rated currently. A strong buy I believe!

iiCB - 15 May 2015 - 17:01:26 - 1144 of 1597
great week for DCP. it has only just started in my view. certainly no appetite to sell even close to this price.

For someone who hadn't seen anything at that point (May-June 2015) for 18 months, you didn't seem quite so negative when the share price was 10p+. Isn't hindsight wonderful !

[iicb] 22/1/2016 21:36

seen nothing so far in over 2 years apart from multiple cash calls, losses and SFA diamonds. shame, i had high hopes but they are fading fast. they just seem to keep shifting the deadlines and running out of cash each time to me.

[iicb] 21/1/2016 00:04

nice chart jed. look how well it was doing last summer :-( depressing

[ged5] 20/1/2016 08:03

The chart looks like it's forming a double bottom. There's also a gap to be filled. I wouldn't be surprised to see some movement soon. NAI. Any real chartists out there?


free stock charts from uk.advfn.com

[ged5] 18/1/2016 09:32

From the above:-

"We see DiamondCorp is commencing production at the Lace Mine, they’re looking at the first sale of goods at least towards the end of the first quarter or start of Q2 and that’s a major catalyst for a re-pricing event."

Surprised that Lucara wasn't mentioned after their recent finds.

[ged5] 18/1/2016 09:19

Thanks to Valency on LSE for pointing these out which I missed last week:-

[jaf1948] 16/1/2016 09:51

Ged,

Yes, I regretted the second paragraph soon after I wrote it so it had to go !

Less than 2 weeks to the update. After OXS, I would welcome some good news.

[ged5] 16/1/2016 09:43

Good morning JAF,

I didn't have time to reply yesterday but notice you've edited your post - thankfully.

I think we all had high hopes for DCP and after these unfortunate setbacks maybe the next news will get us back on track.

I hope we're both posting this time next year with a much higher share price.

Good Luck!

[jaf1948] 15/1/2016 13:27

Ged5,

Yes, I agree the communications of late have made us all wonder what's going on. We are due our quarterly review in 2 weeks time and if that is bad or sketchy, I might seriously consider getting out.

[ged5] 15/1/2016 09:09

Yes JAF, I read Valency's extensive reports on his visit. Please thank him/her for those posts.

Remember that DCP is a diamond mining company with the purpose of producing diamonds. We were informed that production was ahead of schedule. We were sweetened by one clear white gem. And then came the fundraising.

Since then we have had delays and more fundraising. Yes there has been work going on but those reports on LSE gave more disappointment. Oh deary me we can't show you any diamonds because we moved them during the seasonal break. Very sorry we can't talk about what's been produced because Louden isn't here.
Something is not quite right.

At the start of November we were told that:-

"Processing of K6 kimberlite and K4 kimberlite recovered from the production level drives and bulk test sites continued with further encouraging results"

Surely there should have been some excitement about the prospects of commercial production this month. Surely they found some diamonds in November and December which would have given us encouragement. After all we have been led to believe the kimberlite at Lace is full of diamonds with the probability of pinks and purples.

So am I missing something? Was there really nothing to report on the diamonds or is the news being managed?

[keifer derrin] 15/1/2016 08:56

I've been in mining shares before and I totally understand how it works. I managed to pay my mortgage off by buying Centamin Eygpt at 7p and sold at £1.50. That was a roller coaster of a ride - but the management were very good at communicating everything that was happening - even the very bad parts (when the Egyptian government tried to take the mining rights away), let alone others miners were I've made and loss money

I have said many times I am not really impressed with the way management have released information, but I continue to hold as I'm hoping they will start finding decent diamonds.....So until management start communicating efficiently, I'll carry on writing one liners...like "shareprice says it all".

A lot of the shareprice is governed by forward perception - how many times have we read "buy on the rumour sell on the news" and it's been true. At the moment the "rumour" is not good and management are not helping in that perception. Even if you don't believe in the rumour factor even the fundamentals aren't good - yet another money raising exercise has taken place - how many has that been recently - I have sort of lost count (and currently doing my tax return to check :-) ) Why don't they ask other shareholders to get cheap shares to help alleviate the shareprice drop that i'm sure most of us have endured. I am currently down 23%

I like the the fact that you are very positive on the company - but as I said shareprice says it all and I am currently down and not impressed. Although I've I always invest longterm - so here's hoping, but once I hit the loss of 30% I am out of here....

Also if the LSE is a lot better, why are you wasting your time "talking to us"..... :-) lol.....

[jaf1948] 15/1/2016 07:42

On LSE, there is a person who understands mine engineering, took the trouble and expense to visit the Lace mine this month, spoke to the Chief Operating officer there and then explained on the bulletin board what has happened over the past few months and why it happened in clear terms. This information allows investors and potential investors to make decisions on whether the management are up to the job and what is likely to happen in the next few months.

On here, you get pithy one-liners which add nothing to anyone's knowledge of DCP.

[tiger60] 14/1/2016 20:52

Time to deliver. Full stop.