Karelian Diamond Resources Share Discussion Threads

[hooops] 17/9/2019 07:24

Big deal !!

We had over 30% voted last time and that's without the missing votes not cast so heading towards 40%??.
At lease we are forcing change however no money and lack of planning going forward same old bla bla bla .
When ???
This century or next,???

[chumbo1] 17/9/2019 07:02

Karelian Diamond Resources plc("Karelian Diamonds" or "the Company")17 September 2019Appointment of Non-Executive DirectorKarelian Diamonds (AIM: KDR) is pleased to announce that, further to the announcement released by the Company on 15 July 2019, the Company has appointed Howard Bird as a non-executive director of the Company with immediate effect. Mr. Bird will also continue in his role as a geo-science consultant to the Company.Mr. Howard Bird is an internationally experienced Professional Geoscientist (diamonds, gold, platinum and base metals) and has over 30 years' diverse junior and senior mining company exploration, development and mining experience, including over 15 years at senior executive management level.Mr. Bird has a strong background in both European and North American marketing, capital financings, mergers and acquisitions, and joint-ventures. He has a proven track record contributing to significant company value added growth with grassroots exploration discovery success, development and production of highly profitable kimberlite diamond deposits.Mr. Bird was the Senior Vice President of Exploration and Geology at TSX listed Brigus Gold Corp. where he led the exploration team in the discovery of three new gold deposits at the Grey Fox Project. He was also part of the corporate development team adding the acquisitions of the Black Fox producing mine, near Timmins, Ontario and the Box mine deposit in northern Saskatchewan. Brigus was later acquired by Primero Mining Corp. in March 2014.Prior to Brigus, Howard was the Senior Vice President of Global Exploration for TSX and AIM listed SouthernEra Diamonds Ltd., where he spent over 15 years in the diamond industry. He has extensive worldwide experience and was involved in programmes that have led to the discovery of over 100 kimberlites, working in Canada, Australia, Brazil, South Africa, Angola, Zimbabwe, Democratic Republic of Congo, Botswana and Gabon.Mr. Bird was involved in the discovery to production success of several new economic diamond deposits while at SouthernEra, including the Marsfontein pipe, Sugerbird Blow and Klipspringer mine in South Africa, and he worked on one of the world's largest pipes, the Camafuca kimberlite in Angola. While at SouthernEra, Mr. Bird was also involved in many of the grassroots kimberlite diamond discoveries in the Northwest Territories of Canada, these included joint-ventures with Rio Tinto. While at SouthernEra, Mr. Bird's added responsibility included Vice President, Global Exploration for TSX listed Southern Platinum and he was a member of the team that brought the Messina (Limpopo) Platinum mine into production in South Africa.

[catswhiskas] 17/9/2019 07:00

Maureen and James are holding 1%

[catswhiskas] 17/9/2019 06:34

Voting for Professor Conroy

PROF - 18.6%
CONROY - 3.19%
DR S CONROY - 2.8%
BRENDAN MC - 0.7%
MARTELLO ( PRESUMED ) - 6.47%

Total 31.76% and i havnt included Maureen

[catswhiskas] 17/9/2019 06:03

Lazygun go to the kdr website and add them up the figures are not wrong if Martello vote for conroy he has over 30% of the vote .Requisitioners have no where near 30%

[lazygun] 17/9/2019 03:06

Cats, your numbers are completely wrong.
As for VV, well, your analysis is also wrong. Since the egm, the majority of shares traded have been buys....

This is far from over

L.

[catswhiskas] 16/9/2019 22:47

Would unfortunately have to agree Presuming Martello is voting for CONroy then they have circa 32% votes against Rebels have 24% For.CONroy could further increase by 3 % before having to make an offer under concert party rules.
Of course there will be the smaller holdings voting for either sides heavily weighted to the rebels but wont be enough though to change the outcome they are well short .
If Conroy does make a 3% further purchase i make it they are 10% short .Change isnt going to happen based on current holdings 😂😂😂

[venomousviper] 16/9/2019 15:43

Looks obvious to me but this latest coup to try and remove the current board looks dead in the water.They haven't got a cat in hells chance of pulling this off they failed last time and since then prof has acquired a further 5% and diluted all existing holders.
Judging by the current trading pattern all sells and no buys the market has succumbed to the inevitable.

[thedoogster] 12/9/2019 19:36

Well.seems like I've had a busy week or two and the shenanigans have continued on here. Fair play to the guys i say. Having read their latest update.... At least they have what sounds like a good plan for the company...which is more than I can say for the current lot!
Who knows what's gonna happen next...but the sooner the current lot are out the better

[lazygun] 11/9/2019 19:10

The real question ladybird is, do you still hold shares in Kdr, and will you be voting in favour of the proposals, for the new board, or voting against, to retain the old board?

L.

[sirianbotham] 11/9/2019 17:20

Outsmarted? He's used every trick in the book because he can't rely on anyone else to support him that's not paid by the company.

[catswhiskas] 11/9/2019 16:07

Well my votes didn't count at the last EGM but they will this time so that's another 0.5% of the issued share capital the requisitioners have for a start !

[ladybird1] 11/9/2019 15:39

Perhaps, Cats, but has the Prof. in any case outsmarted them (yet again!) with his additional shareholding?

Don't hold your breath, I suggest.

[catswhiskas] 11/9/2019 15:07

Rebels will have acted upon the advice of their lawyers and brokers before calling another EGM they arnt going to requisition one without doing due diligence first .

[ladybird1] 11/9/2019 13:50

A fair summary, SirIan. We are not far apart. If the dissdents can come up with anything we shall no doubt discover in the fairly near future.

As to if not, and they seek to sell their holdings, an interesting question might be who the Heck would be daft enough to pay money for it?

[sirianbotham] 11/9/2019 13:27

They may not intend to hold a vote but its not a question the BOD can determine on their own. I imagine its up to how the the statutory requirements of the Irish Companies Act 2014 are interpreted. So yes in some way I share your concerns because the one thing this BOD is good at is using its legal obligations as an excuse. Lets see what comes back.

If he felt so safe in that regard I doubt he would have converted debt to shares.

As for ranting on a website. I have seen more information and detail on that site than anything the company has ever produced. Their arrogance to dismiss at least 40% of their shareholders concerns as vexatious or disgruntled blogging or actually harmful to the companies progress is simply offensive and arrogant.

I'd also be asking what does the BOD intend to do if another EGM is going to be held. Or is this just the excuse they can dine off for another 12-24 months while nothing progresses. They have offered nothing in their responses to the very shareholders (who haven't sold) to try an allay any of their concerns or lay out a way forward.

If there isn't an EGM or the vote is lost again ... what next? In the absence of anything from the company I imagine the 40% plus will cut their losses and run and where will that leave the company.

[ladybird1] 11/9/2019 11:17

You're not answering the basic question, SirIan. What can the dissidents actually do now to remove the Board? The Directors plainly do not intend to rehold a vote. It seems unlikely, as the EGM was properly held and their was no negligence by the Company, that they could be forced to hold a fresh one.

So the Board seems safe for another year.

Should the dissidents have any course of action open to them, other than ranting on a website, I shall be most interested when it is revealed. But I quite simply can't think of one.

[chrysos] 11/9/2019 11:14

@SirIan, well they got 3% above their own plus Martello's holdings last time, so that is a maximum of 40%, assuming they can and do push their holding to the maximum 30%AND IF, and ONLY IF Martello still vote for them, having just experienced a 25% loss and potentially seeing the bottom of the barrel if Conroy wins again.

[sirianbotham] 11/9/2019 11:00

"The Board have also made their position totally watertight by conversion of the loan to their maximum possible shareholding."

How? What % of the company do you think the BoD can count on for support

[sirianbotham] 11/9/2019 10:58

Well I wouldn't give the current BOD another £ no matter what scenario they painted because

1) I don't believe they could / have / can articulate a simple business case (such as the one above) even if they were motivated to do so.
2) No-one would believe them if they did

There is no confidence anymore in CGNR / KDR

[ladybird1] 11/9/2019 10:57

Go on then, guys. What - in practice - can the 'requisitioners' actually DO? I should be so grateful, (poor ignorant as I am in these matters?), for a straight answer.

Many thanks.

[hooops] 11/9/2019 10:54

copy from lse

At the risk of p!$$!ng Maureen off with negative blogging, aka expressing a valid opinion, let us assume that with new management, with the present ~40M shares out at ~3p, they raise £1M at 4p (25M shares) and a further £1M at 6p (15M shares) and take the project through to feasibility, and that takes the company to a valuation of £4.5M (the present market cap plus the money raised plus a 50% premium for positive results) on 80M shares.

Anyone in at 3p right now sees dilution of 50% but a doubling in share price so is no worse off.

Let's then assume they go ahead with the project, raising 50% on debt and £10M as equity, at say 8p a share, for another 120M shares or 200M then out. Based on 0.7Mt a year at £30/t value and £15/t costs that is £10M a year earnings, at say 10:1P/E that would give a valuation of 60p.

The current 3p shareholders now have 500% dilution with 40M going to 200M shares, but 20x share price appreciation from 3p to 60p. That is still a 4x appreciation, or 12p in today's money. Plus if new management can do this project, presumably they can achieve other results in Finland, and even elsewhere?

The present lot certainly don't seem to be able to, or if they are, to have the years left to actually do it. Assuming another 6 months fighting with his shareholders, 2 years for feasibility, 18 months to build the mine and 8 years of mining, Conroy will be getting his telegram from King William before then.

[sirianbotham] 11/9/2019 10:46

Absolute codswallop

[hooops] 11/9/2019 09:31

k
ladybird your so money supermarket and thanks for clarifying your links to the existing board.