Dimension Resources Share Discussion Threads

[flojo] 22/5/2009 14:33

Quite right Duss,they will be sorry selling so early, i still think we will have news next week.

[dusseldorf] 22/5/2009 14:26

Someone sold 500k at 0.31, and yet the limits remain unchanged

sell 500k@0.31 vs buy 100k@0.55

To the seller - I would consider selling stock at 45% discount to the ask price, prior to placed cash of £200k and at the point where a gold mining reversal is about to take place as mis-timed.

Time will tell, but buying any stock below 0.5 will shortly not be possible - IMO of course.

[dusseldorf] 22/5/2009 11:52

400k still peanuts really (£2k), though MM's not allowing large quantities online sell 500k@0.31 vs buy 100k@0.55 so I suppose it's all relative.

Hopefully bodes well for the £200k fundraising being at 0.5p (as opposed to 0.25p, which it may also be), which in theory will help underscore potential valuation and may mean we see an end to any buy price below 0.5p

[fenseal3] 22/5/2009 11:49

Most you can buy now is 100k @ .55

[fenseal3] 22/5/2009 11:44

Duss he did say maybe today, you never know....fingers crossed!!!...14% rise and 400k @ .47 i will say today.

[dusseldorf] 22/5/2009 11:40

fenseal3 - no prizes for your broker for saying there will be news by next week(!)

FLOJO - still here, just waiting

[fenseal3] 22/5/2009 11:39

Most i can buy is 50k!!!!

[flojo] 22/5/2009 11:37

Agree fenseal3,something might have leaked.

[fenseal3] 22/5/2009 11:36

Jump on board, you can now sell 750000k @ .3....my broker said maybe news today if not next week for sure.

[flojo] 22/5/2009 11:28

And some buys today.

[flojo] 22/5/2009 11:24

Hello all, must be news soon,you out there Duss ?

[dusseldorf] 19/5/2009 22:59

Last year Cominco 'completed an ASTER study and soil sampling on its licences.'

ASTER -> Advanced Spaceborne Thermal Emission and Reflection Radiometer (I presume?)

I guess this means they have numbers for inferred resource based on locality etc.. I'm hoping we'll get some numbers to mull over once the 1st stage of acquisition is complete. The value placed on the licences must have been with some merit as to recoverables, I would like to see those numbers.

[flojo] 19/5/2009 12:18

Again many thanks Duss.

[dusseldorf] 19/5/2009 12:14

Flojo - as before, funding, new broker, completion of 18% acquisition all on the way prior to end May - assuming they get the RNS out by then too. Will generate some interest, though the MM's will need to close the spread no-one wants to see a 60% paper loss from the moment they buy - though I'd suggest just around £10k buys needed to turn this 100% gainer.

[flojo] 19/5/2009 12:01

Hello all, any thing on its way,Duss ?

[flojo] 15/5/2009 10:47

Thanks for that Duss your a good one.

[dusseldorf] 15/5/2009 10:09

Online currently sell 250k@0.22 vs buy 250k@0.5 - horrible spread, but reflects market makers uncertainty over how to value the stock.

i.e. they don't seem to want to let any go sub 0.5p, though only willing to take well below that given historic selling pressure.

[dusseldorf] 15/5/2009 07:41

The contract is conditional on a fund raising by the Company of GBP200,000 by 30 May 2009

I am expecting new broker, placing for £200k and completion of 18% acquisition share issue RNS's by month end i.e. next two weeks.

However, previous fundraising was delayed, though this was to the benefit of the shareholders as price rose in the meantime and less shares were issued

[flojo] 15/5/2009 07:24

So duss could there be an update from the company between now and the end of the month ?

[orvil] 14/5/2009 19:21

Thanks for the update Duss, I must have misunderstood the initial announcement because i had thought the purchase at 0.5p of the total outstanding shares of Geminaco was the nominal value of the DMR shares, whereas the nominal value is 0.1p so it is in fact the value placed on the entity, and as such the agreed value of DMR shares. It would follow logically that the placing for the £200k would be done at about the same amount as otherwise the new investment will be diluted.

[dusseldorf] 14/5/2009 18:11

Believe it or not we did actually get some other low level news interest:


New Dimension
Natural resources company Dimension Resources agreed to expand its portfolio of interests in African mining companies by acquiring an 18% stake in Societe Congo Mining Company from its controlling shareholder, African Mining Investments Ltd.

[dusseldorf] 14/5/2009 17:36

Of course, was just at an investment bank client visit today (and another one yesterday) - to see how the other half live(!) - they live quite well by all accounts.

At this stage, we appear to have found out all necessary info though shall summarise:
- The price at which DMR is raising £200k (due prior to end May) is unknown, however, will be between 0.25 and 0.5p/share IMO. This equates to an increase in equity of approx 40 - 80m shares.
- The cash raised is to fund Dimensions ongoing search for potential reverse targets, my understanding is that it is not for the congalise prospect, though it has been highlighted that one of the prospects can become self funding within 6months by using as little as $100,000 cash injection. Some cash may be used to quality assess the inferred resources at this pre-money stage to attract further investment
- The acquisition of Geminaco is being tabled for a due diligence valuation of £2,332,012. Dimensions initial 'outlay' for an initial 18%, though no cash invested, is £621,699. The balance can be acquired at any point over the next two years from date of next RNS.
- There will most likely be one RNS titled 'Completion of placing and option agreement' or similar, this will confirm the percentages of equity, which are dependent on the price at which the £200k is being raised.
- There will also be the appointment of a new Broker for the company - the purpose of which is likely to do the rounds in the city to raise money to fund the extraction of assets from the remaining licenses
- After the 19% acquisition option and share issue the owners of Geminaco will own between 26.4% - 28.8% of Dimension resources equity. If full acquisition was to proceed, they would own between 57.37 - 60.34% of Dimensions equity. This is all 'pre-money' which you can assume is the case.
- A major shareholder in an Plus listed company that owns a percentage in Geminaco/Cominco is resources mogul Bruce Rowan, chairman of Starvest (SVE) the resources funding investment co.
- All Dimensions previous targets for reverse acquisition have required capital to 'start-up' in the region of £5m- £12m, I am assuming this will be the case here - infrastructure, staff, mining equipment
- All Dimensions previous targets for reverse acquisition have also targeted 7 digit profitability by circa year 3 (not saying this too will be the case)
- My view is that the post money valuation could be in the region of £12 - £15m
- Potentially, the congalese mining is just going to be one string to DMR's bow and we will see more prospects absorbed in the coming months - that is my understanding for Dimensions future, The major holders of Geminco, who also have some fingers in other pies in Africa may become members of the DMR board
- Jonathan Morely-Kirk may be the route to market fundraising via fox Davies capital

the speculation for me is, at what price will the funding money enter DMR, my hope is that it will be a premium (or consolidated equivalent) in the region of 1 - 1.5p, which would provide a significant uplift in valuation for current shareholders. At 1p, the valuation of DMR + Congelese gold assets would be £8.12m + any cash raised. Why would it attract such a premium, well DMR is Bermudan registered and as such it's all about controlling who owns the piece of the pie, the prospect owners will not want to dilute their holdings unnecessarily if the future numbers support such a valuation..

Basically everything depends on:
a) What is the asset potential in the prospect areas £millions or £billions?
b) How fast can extraction begin if funding is in place?
c) Is this the only prospect DMR will target (i.e. will DMR become cominco?/geminaco), or is this simply the first?

Answer me a,b and c and I'll probably be able to guestimate market reaction

[flojo] 14/5/2009 12:31

Duss you still out there?

[orvil] 10/5/2009 15:16

Interrestingly the third Director r. Lemmon is Chief Geologist Fundy Minerals and serves as Chief Technical Officer of Crystal River Resources Ltd in which Valiant have a 7.71% interest ( invested £110k) and Crystal River is a major shareholder in Valant having invested £50k for 5m shares in Aug 2007.