Dwyka Diamonds (See LSE:NYO) Share Discussion Threads

[gconvery] 29/5/2009 16:25

And DWY finally joins the party....where is the action on this share!

[jonny flame] 28/5/2009 18:10

Noticed some of the commodity stocks have started to come off a bit recently, many have risen 100+% since Feb/Mar, we could see some stocks drift this summer, presenting some outstanding bargains in my humble opinion. The future for commodities is only going to strengthen. Where is all this Copper, Nickel, Zinc, Lead, and Iron going to come from to feed the rapid expansion of the Chinese and Indian economies? The supply is elastic at the moment but once we start to get through this recession and demand starts to increase and supplies become tight again you will want to be in commodities. Of course owning mining shares is one way to gain exposure to this.

[6kenny] 28/5/2009 08:50

nickel plated drill with a diamond tip? this is great news, deffo worth holding on to these as I think we will see massive upside in the coming months.

[fiat lux] 28/5/2009 08:45

i bought my ex-wife a set of diamonds. she;s still wearing them and living in my house. I live in a bedsit with a cat and a bunsen burner

[debbiegee] 28/5/2009 08:43

Ha ha,I thought it was me being thick !
Just rushing about, off to the fair and all excited !
Great news though look after the share price hope to come home and find it has doubled !

[ispye] 28/5/2009 08:41

The RNS we've all been waiting for!!!!!......(ahem)isn't quite here yet.....still, good for general morale.Hang on in there!!

[fiat lux] 28/5/2009 08:34

the drills are diamond tipped.

come on love wake up

[debbiegee] 28/5/2009 08:28

Great stuff !
I was expecting nickel but they mention diamond drilling ?????????

[mg78] 28/5/2009 08:27

Wakey wakey!


Muremera Nickel Project Phase 2 Update (Dwyka Resources)


TIDMDWY

RNS Number : 9321S
Dwyka Resources Limited
28 May 2009

?
28 May 2009


Dwyka Resources Limited ('Dwyka' or the 'Company')


Muremera Nickel Project Phase 2 Update


Highlights


* Drilling commences on the first three of 17 targets at Muremera



* Handover of the exploration programme from BHP Billiton complete and Dwyka now
owns 100 per cent of the project



* Licence renewal application for the Muremera licence submitted to the Burundi
authorities for approval



Dwyka announces that a drilling contractor has been engaged and has commenced
the second phase of diamond drilling at the Muremera Nickel Project in Burundi.


The drilling targets have been identified following intensive VTEM surveys that
generated signatures consistent with massive sulphide bodies that may have a
nickel signature and are approximately 10km from the Barrick/Xstrata Kabanga
Project ("Kabanga"), currently the world's largest undeveloped nickel sulphide
project.


Following drilling, the core samples will be assayed by ALS Chemex Laboratory in
Johannesburg.


Dwyka secured 100% ownership of the Muremera Project in March 2009 with the
handover of the exploration programme from BHP Billiton now complete. The next
Phase of the work programme has been submitted to the Government of Burundi in
order to secure the extension of the current exploration licence.


Melissa Sturgess, CEO of Dwyka Resources commented "We are delighted to have
secured 100% ownership from BHP Billiton who has previously invested in
excess of US$7.3m into the Project. We are now proceeding on schedule with the
planned exploration programme at Muremera and remain optimistic about the
project's potential."


For further information please contact:


Melissa Sturgess
Dwyka Resources Limited
(+44) (0)78 2555 1397 or [e-mail]


In United Kingdom
Richard Brown
Richard Greenfield
Ambrian Partners Limited
(+44) (0)20 7634 4700


Press enquiries
Charlie Geller or Leesa Peters
Conduit PR
[phone]/ [phone]


Or visit:

This information is provided by RNS
The company news service from the London Stock Exchange
END

DRLZGGZKNRDGLZG

[jonny flame] 27/5/2009 20:38

More like the buy and hold and wait for value bunch.

[gconvery] 27/5/2009 17:32

Well the pumpers and dumpers have left and now we have the drifters......

[6kenny] 26/5/2009 18:35

cheers jonny...that makes very encouraging reading....these are ones to tuck away.

[jonny flame] 26/5/2009 17:56

Well once more drilling has been done and completed then we can look for a JORC resource.

13th March 09 'half-year ended 31 December 2008'.

Muremera Nickel Project - About the project

The Muremera licence, owned by the Company's wholly-owned subsidiary Danyland Limited ("Danyland"), is located within 2km of the Kabanga project operated by Xstrata/Barrick, the world's largest undeveloped nickel sulphide deposit.

The Kabanga deposit, which is located immediately across the border in Tanzania, was discovered by geophysical prospecting, by the United Nations Development Programme ("UNDP"), in 1976. Further UNDP surveys in 1978 resulted in the discovery of the prospective Muremera deposits on the Burundi side of the border. The anomalies have identical characteristics and follow-up work by the UNDP has confirmed that massive sulphide bodies, with nickel mineralisation, are the source of the anomalies. Extensive geophysics and geochemical surveys have delineated numerous targets, however there has been insufficient drilling to date to establish a JORC compliant resource.

Quarterly Report 31 March 2009 - 30 April 2009

.....There are a number of other identified drilling targets. However the three located near Kabanga will be the immediate focus of the Muremera exploration programme, which is expected to commence in May 2009.

[kickstart] 26/5/2009 17:27

When proved up I think you will find my 6% figure is correct. That figure is an educated guess not something DWY released.

[jonny flame] 26/5/2009 17:08

6Kenny - maybe they are.

Have a read of the below mate, unless Sturgess is fibbing I'm happy to hold here(I suggest you read the full link).



Allan Seccombe | Thu, 19 Mar 2009 14:57

....While Dwyka can continue to afford its exploration work at Muremera with its $15m cash holdings, it has to bring in a partner, which may not be difficult to find as there have already been a number of overtures to Dwyka to team up on the prospect and talks will be held over coming weeks.

"We've got enough cash and we're under no pressure to deal. We at some point, not straight away, want to get someone in," Sturgess said.

She didn't rule out BHP's return sometime in the future after the current commodity cycle had bottomed. "It wouldn't surprise me if they came back knocking in two or three years. From their perspective, it might make sense not risk their exploration dollars now but pay more further up the value curve when there's more certainty."

The thinking is that BHP was interested in Muremera because it had let go of Kabanga when exploration was showing relatively low grades, but subsequent work by Xstrata and Barrick have proved up much higher grades.

[6kenny] 26/5/2009 16:56

Jonny,

Also, if it is so close to an Xstrata project then why are they not interested in a JV on Muremera?

[jonny flame] 26/5/2009 16:52

6Kenny - I agree, I maybe incorrect but I have not seen anywhere where DWY have claimed that Muremera contains 6% of the worlds nickel, I think this is misleading. As you say BHP would not be vacating there holding if it did!

Muremera is big but how big is still a bit unclear.

[6kenny] 26/5/2009 16:37

if it could contain 6% of the world's supply...BHP could have chosen to keep their 10% interest...

[jonny flame] 26/5/2009 16:35

In regards my opinion that we are now entering the next stage of the commodities super cycle, don't take my word on it, but perhaps you might be interested in what Goldman have to say. Incidently if anyone is interested in an outstanding copper play 9in my humble opinion) please come and have a chat on the FND bb, bit lonely on there at the moment. However come 2010 I won't be able to get a word in! :)



May 26 (Bloomberg) -- The "worst is over" for raw materials demand and investors should increase investment in companies including BHP Billiton Ltd. and Newcrest Mining Ltd., according to Goldman Sachs JBWere Pty.......

....."What is unshakeable is our belief that China and India and the other emerging economies will be the key engines of any return to world growth and commodity demand growth," Rio Tinto's head of iron ore Sam Walsh said at a resources industry presentation in Canberra today. London-based Rio is the world's second-largest exporter of iron ore.

[jonny flame] 25/5/2009 20:24

6Kenny - BHP cost cutting and pulling out of 'non-core' projects to 'rationalise' there business and save money, is how I see it. You could ask why BHP closed down mines in other countries and why they laid off thousands of workers. The current economic climate has caused this, but as always one's loss is another's gain. As an analogy it's a bit like some miners who have stopped drilling, it doesn't mean there is no gold/Nickel or whatever it just means they have decided to conserve cash, by not drilling.

I may be incorrect but that's how I see it. If true then DWY have done very well out of BHP's strategy to refocus on core assets. Of course time will tell...

Personally I think the AIM mining sector offers once in a life time investment opportunities........ I also think we are now restarting the super cycle in the commodities bull run.......... I have heard a few people on bb's saying 'they will never invest in AIM again' that's when you know when there are outstanding investment opportunities, when people start saying stuff like that. Buy and hold.

[debbiegee] 25/5/2009 19:41

Yet another article of the same ilk.
Many investors sitting on the sidelines ,watch out as a few start buying and hoarding the herd will stampede !
I firmly believe we are in the right place at the right time !
DYE TMC ENK

[logica2me] 25/5/2009 19:27

Too small fry for them. That's all. Different sized companies.