Share Name Share Symbol Market Type Share ISIN Share Description
Diamondcorp LSE:DCP London Ordinary Share GB00B183ZC46 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 2.05 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -2.41 -0.64 10
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 2.05 GBX

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tiger60: Seems a long time ago now that this sunk without trace. Did anyone ever pick up from the cessation of DCP and take the project any further?
markfrankie: They have raised £1 million. Dcp share suspension was around the 2p mark. @4p, Exercisable @1p at an average of 2.5p placing Management were a little uninformed about possibility of floods, they must have proved they can now manage the potentially good asset to someone
pharmoutcomeszzz: Aaaaahhhh! IiCB: showing your true colors. We are all sitting on now what looks heavy losses. Like most share owners in DCP, I invested after having carried out much research and reading. I have never invested in a company that has had so much genuine bad luck. Some you win, some you lose. Sounds to me as if you've been stupid enough to put all your eggs in 1 basket. Get over it and if you ever have enough money to invest again and comment on boards, change your style, start making useful contributions and stop slagging off the management, the company you have invested in and other contributors. WE have, after all, invested in the same company,presumably, like you, to get a decent return. Probably this will instigate another flurry of 4 letter obscenities. makes me smile more than the current price of DCP does, so give it your best.
tiger60: Amazing just for the short term debt a gbp 50,000 upfront fee plus 15% interest and then 30% discount on share price or cash repayment and all secured. Desparate times. Incredible. Madness to buy in to this. What price the long term debt? Some people cant read a rns.
mesquida: This afternoon's share price action looks a little perverse to me as I thought that the short term loan package was none too onerous in the circumstances. Presumably some punters were looking for a bid announcement, and clearly also David Gasken's 4 million share sale will have had some effect (assuming that it was executed after the announcement). Suspect that price will rally tomorrow.
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.
ged5: Thanks badday! The video is also on the home page of the website. A good promotional video. PL seemed very pleased with the size of the diamonds. Some feedback from the AGM posted elsewhere:- "J_b1000 There are regular small parcels that go to Antwerp for security reasons. They are then aggregated for monthly tenders. PL confirmed at AGM that there will be two tenders before the one in September - one in July and one in August. Clearly the July tender will not yet reflect the first full monthly tonnage of 30k tonnes slated for July. PL confirmed however the plan for monthly tenders based on a mining rate of 30k tonnes per month. He said money is tight until full production in July but "it has been tighter before" and for what it's worth I came away as a shareholder thinking this is an issue under control and more a case of saying it "how it is" and will start to fade away altogether as we start to enter full production in a couple of weeks. Once we enter full production and as PL completes a marketing exercise he says is underway PL said that SA institutions should start to come on board in chunky blocks which is where the Panmure arrangement to share liquidity between JSE and London comes into play satisfying both them and tightening the London share base. He also mentioned that he needs three of the four newly acquired trucks to be available for service end June to reach 30k tonnes in July. One is already in service and two more are to be ready for service end June. That delivery of trucks plus the ore silo end June are the two deliverables needed for July 30k tonnage and both look on track as of today. Speaking for myself came away positive and I came in positive. I am maybe slightly more positive now. I am actually pretty excited about the July and August tenders. PL reiterated what he said in video today about the better than expected size frequency distribution. Also when you look at the resource statement see if you think there is a proper and sufficient account taken of the higher $ per carat you get with the larger stones - I personally don't think it is factored in enough, a mistake really, never mind the frequency of those stones being better than modelled ie a 10 carat stone is much more valuable than 10 stones of 1 carat each - ready to be corrected! Bobzim Whilst still fresh in my mind - I will outline PL's answers to the specific questions we collectively raised - then follow up tomorrow with some more general observations and opinions re the AGM. PL was kind enough to sit with me [1:1] before the AGM and provided hand written notes/answers to our questions. I subsequently sought clarification on a few points both during and after [again with PL and also EW] the meeting. 1] Production targets ..... have been met for both April and May. 2] Social media and lack of website updates/news etc ..... will be addressed in Q3/Q4 when DCP are cash flow positive. 3] Capex ..... the next major stand-alone item is the X-ray sorter scheduled for Q3-17/Q1-18 at a cost of ~USD$ 1.5M. As a rule DCP budget annually with a 15% contingency and 12.5% replacement capital. 4] DCP will be profitable in H2 2016. 4.1] There is no requirement to revisit their stated Aug/Sep16 cash flow targets. 5] Re Tech Report table 16.7 - Trough drilling/Doming drilling - have there been any indications of water or mud from old workings? ..... "not that we couldn't adequately handle" [PL quote]. 6] There are no specific problems or difficulties envisaged as Lace moves toward full production other than already advised - i.e. trucks. I sense that the 'truck issues' are now largely resolved - and PL seemed relaxed [as one can be!] re this matter. 7] COO's [Steve Ward] retirement - currently the Mine Manager [Andre] is acting COO; highly likely that he will be offered the COO role on a permanent basis and DCP recruit a new Mine Manager. Time-scale = 90 days. 8] DCP are not engaging with the Ministry of Mines with regard to BEE Charter proposals. PL stated that DCP are "too small" .....they do their level best to remain under the political radar. 9] There share trading arrangement announced on Sep7th remains open. 9.1] Very few shares have been transferred to date. 9.2] The current equity in issue is split 95% / 5% respectively across AIM and JSE. 9.3] I asked PL specifically how aggressively DCP were marketing to SA institutions - he confirmed they/he were involved in heavy - ongoing - marketing activities in SA. He expects their to be a significant appetite from SA once DCP are recognised as a fully fledged [de-risked] producer, and not developer. 10] Small parcels of diamonds are sent to Antwerp on a frequent basis. Tenders/sales are currently scheduled for July, August and September. These sales will be run-of-the-mine [kimberlite] diamonds. 11] RNS tone/wording .....unbeknown to me the NOMAD [and author] of the latest RNS was sat immediately to my left. He was identified as such only AFTER I had criticised [constructively I thought!?] his efforts! He remained silent throughout. Thankfully both PL and EW were clearly very sympathetic to the points I raised and agreed to review matters with their NOMAD. I hope the above helps.... ....I will post some more general observations
ged5: Good find wisecat2 "Panmure Gordon has a "buy" recommendation on DiamondCorp, with a target price of 15.7p. Analyst Kieron Hodgson said in a February note that the share price could appreciate on regular sales and growth in production tonnages. "Despite our caution for diamond pricing in early 2016, we believe DiamondCorp remains a special situation as the company ramps up output to commercial status." Hubbard says DiamondCorp’s market capitalisation of about R650m is less than the R750m it cost to build Lace. Once debt is settled the indicated dividend is 3p-4p, suggesting an "astonishing" 46%-61% yield on the current price. He says other factors in DiamondCorp’s favour are that management has delivered on its promises (which is not always the case with junior miners), that it has sound black empowerment partners in Shanduka Resources and Sphere Investments and that there is potential for corporate activity. The mine has been de-risked, is about to become cash-generative and is delivering high quality diamonds, but this is not reflected in the share price. hxxp://
jaf1948: iiCB, Whilst your comment is valid, it conflates two different but related issues - the share price and the company. We are all here to make money, that is a given. Those who are here for the long term are more interested in the progress of the company - if the company is on a firm footing and moving in the right direction, then that is what we are looking for. The share price will in time reflect the company's success. If you have a shorter time scale, the daily, monthly and even annual fluctuations are of course of more concern. So yes, the share price has been a 'massive let down' over the past year but the company has continued to make progress (albeit too slowly) over that time which is why I am relaxed.
jaf1948: I totally agree. The stock market usually prices a share based on the company's likely projection over the next 6 months to a year and on that basis, DCP has all the building blocks in place for a large rise. However it seems to be priced on the previous 12 months when there were delays and the inevitable placings. I read the whole of today's RNS with special interest in the two long letters by the Chairman and the CEO. They went into great detail explaining what happened in 2015 and seemed to hide nothing. This gave me a warm feeling that if there were anything amiss at the moment, they would be forthright with the bad news. But on the contrary, there has been no bad news recently just a fall in share price. If it were really explained as Panmure hinted that the market was afraid of another placing to cover cash-flow, it wouldn't justify a 20% drop. As I have said before, I have held these for 5 years. I see nothing that is going to prevent DCP from being profitable. I had hoped that 2015 would be the year but it didn't happen - 2016 should be the breakthrough year and if, perchance, another delay occurs then I have no problem waiting for 2017. IMO, DCP is about as good as it gets on AIM.
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