Dwyka Diamonds (See LSE:NYO) Share Discussion Threads

[kickstart] 16/7/2009 12:33

I think you are behind the curve with your information. BHP pulled out ages ago and all rights revert to Dwyka. BHP spent 7 mln on Muremera exploration so have done part of the job. Base metals may be out of favour but Muremara could end up being massive ( as big or bigger than Xstrata's Kabanga mine a few klms away). Still needs loads more exploration work to prove up the resource which will take several years -no question of DWY building a mine yet.DWY stll has several million cash check it out. In a rush but take proper look!

[davidhp] 16/7/2009 01:02

Mmmm?
I have a major problem with this company...

a) It doesn't appear to have much cash (now 0.17p per share down from over 6p) for financing its backroom operations let alone its mining operations.

b) Producing assets? Cashflow is EVERYTHING in mining.

c) Given that its cash pile is now depleted, next stop is tapping the market for funds... mining isn't cheap and mines cost money. Won't the BHP 50% need to be matched by DWY's 50%? Where's cash for that?

d) While the recent Minerva acquisition was obviously 'wise' in this climate, mergers take longer than one might immediately imagine to fully integrate; meshing into existing mining operational plans to setting new future goals, etc.

e) Non-ferrous metals are rock bottom right now and the big operators are 'dumping' nickel operations, as they're costly, capital intensive shows. Upticks in nickel won't impress anyone this year if the resource is still in the ground...

f) China isn't rushing to purchase nickel... it has spent the last few months buying up and buying into that resource in order to dump dollars. So little upward pressure even if it ticks up a few bucks once in a while.

Dwyka is interesting and cheap but I am not fully convinced.
I can be persuaded but there are better faster horses out there for carrying my dosh...

DYOR

[jonny flame] 15/7/2009 18:20

For full link please see header. Gold is on the rise again so perhaps we may see DWY rise a bit.....

Dwyka Resources Limited
15 July 2009

RECOMMENDED ALL SHARE OFFER by DWYKA RESOURCES LIMITED for MINERVA RESOURCES PLC

Summary

* The Board of Dwyka announces that valid acceptances have been received in
respect of 124,826,186 Minerva Shares, representing approximately 80.90 per
cent. of the existing issued ordinary share capital of Minerva.

* The Board of Dwyka is pleased to announce that the Offer is declared
unconditional in all respects.

* The Offer will be extended until 1.00p.m. (London time) on 28 July 2009.

First Closing and Level of Acceptances
The Board of Dwyka announces that as of 1.00 p.m. (London time) on 14 July 2009, the first closing date of the Offer, valid acceptances had been received in respect of 124,826,186 Minerva Shares, representing approximately 80.90 per
cent. of the existing issued ordinary share capital of Minerva.


Offer Declared Unconditional In All Respects
The Board of Dwyka also announces that it has resolved to amend the acceptance
condition of the Offer as set out in Part A (a) of Appendix I of the Offer
Document such that the required acceptance level for the Offer shall be reduced
from 90 per cent. to 75 per cent. Accordingly, the Board of Dwyka announces that
all of the conditions to the Offer have now been satisfied or waived and
that the Offer is therefore declared unconditional in all respects.

[debbiegee] 09/7/2009 09:11

Buyers returning ?

[cagey76] 08/7/2009 09:58

matt, many thanks.

[debbiegee] 07/7/2009 12:55

cagey,Im sure I had difficulty but found it eventually.
Had a freshh look last night to post for you but was unable to find.
Sorry.

[cagey76] 06/7/2009 11:27

Do this lot have a website ? The only one I can find seems to have expired.

[debbiegee] 04/7/2009 10:56

Hmmmmmmmmm very strange !

[beagrie] 02/7/2009 12:09

That soon fizzled out.

[beagrie] 02/7/2009 08:39

Looks like a bit of volume building this morning debigee.

[debbiegee] 02/7/2009 07:44

Nice buy 1st thing in the morning !

[dogberry202000] 29/6/2009 16:34

MVA: I've added my 300k to accept the offer.

[jonny flame] 23/6/2009 19:01

I am wondering why in the 'Summary of the offer' DWY make no mention of Minerva's holding in Yubdo Platinum and Gold Development PLC.

Below are some details of the Yubdo holding;

"Yubdo Mining is the sole platinum producing company in Ethiopia. It is a small scale operation, currently producing approximately 100 ounces of platinum a year. Minerva Resources is investigating the viability of increased mechanisation and expansion of the current mining operations".



* Agreement reached to increase the Company's holding in Yubdo
Platinum and Gold Development PLC, Ethiopia from 51% to 72%
through the completion of a Feasibility Study.

* Commissioning of pilot gravity recovery plant at Yubdo, Ethiopia.

The Company completed an agreement, in March 2008, to acquire a
further 22% interest in Yubdo Platinum and Gold Development PLC from
Ato Benti Tasissa Negewo, who holds 47% of the company, for a maximum
consideration of US$5 million, depending upon the results of stages
in the project, upon the completion of a feasibility study into the
viability of a mining and processing operation to produce a minimum
of 50,000 ounces of platinum per annum

[debbiegee] 23/6/2009 11:15

Welcome dogberry.
I had hoped that mva shareholders saw the situation as you have.
It would be nice to see a few more ex mva holders join us and have an active constructive thread here !

[sportbilly1976] 23/6/2009 11:02

an interesting chart currently...coming up to the once rising support which will now act as resistance...but with an unerlying support level at 5.25p..

[dogberry202000] 23/6/2009 09:39

I've around 300K Minerva shares - and I'd be happy to hold the new shares in DWY. It's a good fit and DWY seem to be going places. There would be some platinum production, too as well as Tulu Kapi to go with the Nickel and other prospects of DWY. Having looked at DWY, I'm glad it's a share offer as I would have probably bought some anyway.

[cagey76] 23/6/2009 08:20

RNS out re Minerva

[realcooltrader] 22/6/2009 11:00

I suspect they may be a couple of 100k rollovers, however, still positive.

[debbiegee] 22/6/2009 10:56

Nice 4x100k buys ,somebody stocking up while this seems to be off folks radr for a bit ?

[robmakin] 20/6/2009 11:26

PAV 1,
I'm with you, topped up Friday with 100k (now holding 500k)
Charts looking good for next week.
Good luck to all!!

[debbiegee] 19/6/2009 15:54

Wow I havnt got so many but got the last lot at 5.5

G/L !

Big party at tmc and mwa I guess they will notice dwy soon !

[pav 1] 19/6/2009 15:41

DEBBIEGEE....ditto, topped up at 5.85 in 2 lots, now holding 500k shares