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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Kimberley Dia | KDC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 31.75 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 31.75 | 31.75 |
| Top Posts |
|---|
Posted at 29/3/2007 00:14 by rambutan2 March 24, 2007 - Kimberley Diamonds - Numis Securities |
Posted at 01/11/2006 11:25 by cestnous Starting to look interesting (to me at least but not to anyone else apparently as there is no existing thread)Not in yet, but would be interested in opinions. Looks cheap for the potential production, along with the 51% of Blina as blueish sky. Minesite article, (historical) Date: February 21, 2006 Kimberley Diamonds Due To List On AIM As Production Rises Towards 700,000 Carats/Year By Our Man In Oz. Miles, all is forgiven, we love you! It's not known if anybody actually sent Miles Kennedy a card containing those words when Valentine's Day rolled around last week. But if they did, it wouldn't be a surprise if it came from an investor in the Australian diamond companies that fall under Kennedy's control, Kimberley Diamond and Blina Diamonds. Over the past six months, Kimberley and Blina have been on fire as the market re-assesses their exploration and production success. Since mid-September Kimberley, which operates the Ellendale mine in the far north of Australia, has soared from A$1 to sales last week as high as A$1.68. Blina, which is exploring the ground which surrounds Ellendale, and is 51 per cent owned by Kimberley, is up from A25 cents to A70 cents over the same time. The driver behind the re-discovery of Kimberley and Blina by investors is a roadshow led by Kennedy which is doing the rounds in Europe and North America prior to a dual listing for Kimberley on AIM. At these events, executives of the twin companies, which share directors and an office in West Perth, are calmly explaining that Kimberley is on track to become the world's fifth biggest diamond producer with an annual output of 700,000 carats of premium-priced gems from the development of the first two of 44 known lamproite pipes on its tenements. Blina is joining the rush almost by accident by producing 7,336 carats of stones in one exercise which was actually designed to "sterilise" ground which is destined to become a Kimberley waste dump. Some dump! In mid-2004 the market's treatment of Kennedy and Kimberley was horribly different. Back then a misunderstanding led to a painful wipe-out of Kimberley when it appears that conflicting expansion and cost timetables for Ellendale had been delivered a week apart at conferences in Kalgoorlie and London. Investors, especially those in London, were unable to sort a mountain of detail, and variable data. They voted with their wallets and dumped Kimberley cutting 35 per cent off the stock in a matter of days, slashing it from A$1.61 to A$1.05 between August 23 and September 13. By the time the bloodbath ended on December 14, 2004, Kimberley had effectively been cut in half with the shares trading at A86 cents and all because of a communications error, which was not the result of insufficient information, rather it was too much. For Kennedy, the Harley Davidson-riding, South African born lawyer, who has battled manfully to create Australia's best stable of diamond stocks, the experience was sobering though not, in the view of long-time observers, unpredictable. Despite his enthusiasm and undoubted ability to spot a deal, Kennedy can be guilty of confusing lesser mortals with a blizzard of detail, changes on timetables, options to expand ,or not, and variations on mine plans. He thinks he's doing the right thing. A casual recipient of a Kennedy presentation can sometimes walk away more confused than when he walked in. That's why the key word in the current roadshow is calm. There is also something else that is different about the Kimberley/Blina promotional tour. Minimal media involvement. In fact, when given a choice last year between hosting a media tour or going on an investor roadshow, Kennedy decided to deal directly with the investment community. Wise choice. Not only did he start to re-connect with the market that punished him so harshly just 18 months ago, but media types on the invite list avoided a site visit in 40 degree temperatures, and the hot red mud left behind by the evening thunderstorms which make the Kimberley region of Australia such an unpleasant place between Guy Fawkes Day and St Patrick's Day. History aside, Kimberley and Blina arguably represent two of the investment world's more interesting diamond stocks, with diamond itself one of the better performing commodities. At the end of his presentation, Kennedy points out that sometime around 1990 the price of gold and diamonds crossed over, and by last year diamonds were streets ahead of gold in price terms though the latest data might show a closer-run game. Of greater interest to investors is the evolving picture of discovery and development at Ellendale, and in the surrounding tenements held by Blina. Ellendale itself is a discovery of Rio Tinto . It was not developed because the giant Argyle mine was discovered about the same time. After months of haggling and legal argument, Kennedy encouraged Rio Tinto to sell him Ellendale, or face a court challenge under Australian "use it, or lose it" mining laws. Full points to Kennedy for that win. But, as Rio Tinto had calculated, it wasn't easy going at Ellendale. It is only now that Kimberley can point to its success at developing the No.9 and No.4 lamproite pipes, and the soon to be completed plant upgrade which will boost ore throughput to 7.2 million tonnes a year for the target output of 700,000 carats. After the daily grind of pumping out diamonds comes the blue-sky potential of further exploration success from the 100 targets identified on Kimberley's ground, and the potential for Blina to kick in with full-scale alluvial production from gems washed down ancient rivers or palaeo-channels. After all this data, and Minesite's Man in Oz apologies for committing a Kennedy and drowning the reader in facts and figures, comes the fundamental question of which is the better entry point to play the Ellendale diamond game; Kimberley or Blina. The answer, despite Kimberley's market value having swollen to A$530 million, and Blina still being capitalised at A$61 million, probably remains Kimberley because it has the best hard-rock assets, while alluvials can be tricky. Kimberley also the ultimate parent company of the pair, has its foot on 51 per cent of Blina and the undivided attention of the market's new love child, Miles the Marvellous! |
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