Karelian Diamond Resources Share Discussion Threads

[ladybird1] 29/11/2017 17:39

Interesting to read the Results and the comments made during the course of the day. There appears - uniquely? - to be more-or-less unanimity about the uninspiring short/medium term prospects. I cannot disagree.

I thought it possibly worth posting the following Note 2 'Going Concern' from the Accounts, which seems to sum up the position pretty well.

'The Board of Directors have considered carefully the financial position of the Company and in that context, have prepared and reviewed cash flow forecasts for the period to 30 November 2018. As set out further in the Chairman’s statement, the Company expects to incur material levels of capital expenditure in 2018, consistent with its strategy as an exploration company. In reviewing the proposed work programme for exploration and evaluation assets and on the basis of the equity raised during the financial year, the results obtained from the exploration programme and the prospects for raising additional funds as required, the Board of Directors are satisfied that it is appropriate to prepare the financial statements on a going concern basis.'

Given the financial position, the Board would have no alternative to formally making such a review (Deloitte's Audit Opinion is not given in the statement and The accounts are not yet uploaded to the Company website, but they would not have signed off the Accounts without a satisfactory case for its likely sucess). The key phrase, of course,is 'the prospects for raising additional funds as required'. Looking on the bright side, they must have cause to believe that will be possible.

Finally, I'd love to know why they've had to go to the wire to produce these Accounts. Extra funding couldn't find/really screwed until they finally had to give in (like UK Government re Brexit cash?)? Or perhaps connected with delays at CGNR? I grinned to note the latter did not have to make a 'going concern' note in their RNS today.

[shambaby] 29/11/2017 14:04

Perhaps Kev. One lives in hope. My few shares bottom draw now TTFN

[kevjones2] 29/11/2017 13:26

Shambaby28 Nov '17 - 12:33 - 10479 of 10506 1 0
We will see Kev if the hat is empty this week

Yes we will.

This is undeniably going the route of CGNR...only quicker, which investors should be grateful for. Imagine your money being devalued every month for 23 years. At least the ruination has been quicker here.

[drrichard] 29/11/2017 13:17

Cannot argue with that Steve, or indeed with your sentiments Escapetohome, if a little early, perhaps?
We have had a good run of RNS of late and a sneak preview of what may be coming with the "news" of a resource manager in the wings. Plus, news of a consolidation to bring the share price to a "more appropriate" value. For what I wonder? Three weeks into which to drop a nice RNS showing why it might be more appropriate? I hope so.

[escapetohome] 29/11/2017 12:54

Happy Chistmas All

And to all staff at KARELIAN DIAMOND RESOURCES, thankyou for your efforts, lets hope 2018 is a good year for shareholders and staff alike.

[stevehoops] 29/11/2017 12:26

Cheers Cornish

Some People hate me here and that's there choice however I have never done anything but support this company and as you say put my money where my mouth is.
NOTHING CHANGED HERE REGARDS GROUND WORKS PROGRAM and as I said if the three major holders don't know what's going as our BOD GIVE NOTHING AWAY nor does anyone else .


KIND REGARDS TO ALL

[cornishtrader1000] 29/11/2017 11:58

Keysersosse: let's be honest and put the cards on the table. You or anyone in your group/circle hasn't a clue what has gone on, is going on or will go on. I'll continue to hold patiently in the hope that one day Professor Conroy will deliver. Enjoy your break Hoops, can't fault a man who put his money where his mouth is.

[stevehoops] 29/11/2017 11:37

See you next year Bonnie have a good Christmas

Hoops

[rbonnier] 29/11/2017 10:29

Will be back at 0.2 or equivalent for hopefully some positive news next year can't be any worse than this year TTFN Good Luck .

[dave444] 29/11/2017 10:19

DB I am looking at an entry point after the consolidation at around the equivalent of 0.2p at today's share price which would equate to 5p after consolidation Of course this would depend on how quickly they are likely to raise funds which they clearly state they will have to do as significant expenditure is planned in 2018.So it might be at 4p

[duplicate book] 29/11/2017 09:55

Wouldn't sell down here mind! If it gets taken down, I may be tempted to grab a few more!

[duplicate book] 29/11/2017 09:48

Have to agree. Whether we raise funds before, or after consolidation, it will be at a discount to whatever price we are at at that time. It's not a 'bad' RNS, but I think that the outlook shorterm is very much going to be more of the same.

Any money Conroy puts in, will be taken out one way or another! Let's not forget that his money comes from KDR and CGNR, and the money that keeps them going is provided for through placings and cash calls, which ultimately is off 'investors'!

I was hoping for a 'rabbit out of the hat' statement before the AGM, but it looks like that is going to be unlikely now. It would be nice if we heard they had found the source of that green diamond!

[dave444] 29/11/2017 09:10

Oh dear a 25:1 consolidation - expect the resulting price to represent about 60% of current value or equivalent to 0.21 in existing share price

[witchywoo] 29/11/2017 08:30

According to the annual report the Prof has actually taken a loan repayment of €151,581 rather than lending more (page 31)

[escapetohome] 29/11/2017 08:30

Not the best rns but not the worst either.

Steady as she goes but expect a capital raising is my reading of the rns.

[shambaby] 29/11/2017 08:22

Sell Quick Bonnie consolidation is 25-1 you’ll be left with no shares with your 23

[rbonnier] 29/11/2017 08:17

Down Periscope
Dive ! Dive !! Dive !!! Run for the hills 🏃

[keysersosse] 29/11/2017 07:52

Maybe Bonnier should stop shouting rubbish re being suspended.

Who's the other one who always bleats about owing money to CGNR ?
How many mentions does this RNS contain re CGNR actually being the ones owing money to KDR ?
I lost count.

Good to see The Prof continuing to put his own funds in the company via loans etc.

Nevertheless, still a pretty disappointing RNS in my opinion.
Much more could and should have been divulged.
For reference of confidentiality plays, a prime example is a certain phrase used in yesterday's by PYC and what they confirmed.

Have a good day folks, may as well hibernate now until the many additional targets being explored as we speak are analysed.

Do zobaczenia rano.....

[duplicate book] 29/11/2017 07:47

There is the share consolidation....25 to 1. This will apparently make the price more attractive to investors. 'If' the mine is developed.....Other than that, loss has widened a little and the rest is pretty much same old same old. So, how many here think there will be a cash call before the consolidation takes place?

[discusser] 29/11/2017 07:24

Standard RNS for KDR. Still zeroing in. Maybe we were more worried than we need have been.