Kimcor Diamonds Share Discussion Threads

[hyper al] 29/9/2008 09:13

It's a tree shake!

[hyper al] 29/9/2008 09:12

Amazon_Woman

I'm holding.


I think Bosele will make them a target.

[dcroston] 29/9/2008 07:42

patent2,

Dwykas shares as follows.

129,333,718 at 7.25p.

[amazon_woman] 28/9/2008 23:22

No one has mentioned a bid and to be honest the value in Dwy's account could be nothing to do with the rise, maybe they have a big find. No one knows I was just checking the nos out.

It had the look of going higher and may do. I would not add but if I was still in I would hold longer. Alas I am not but will be watching. I am in DWY hence the interest. Also in TAN worth keeping an eye on.

AW

[patent2] 28/9/2008 19:46

I thought the reserve takeover of dwy assets was 6.5p and 5.88p so cant see a 2.75p bid

[hyper al] 28/9/2008 19:08

Amazon_Woman

Thanks for correcting my very stupid error!

Oh well, I think they are worth more

[amazon_woman] 28/9/2008 18:37

No $7m for DWY's share equals approx $15m for whole co which is around £6.75m for whole co. $1 + 45p.

It could be that DWY are selling their share only to raise cash. I was just warning against the 10p per share because on the face of it without further details it is nearer 3p.

Not trying to influence anyone I just noticed someone had taken the DWY figures as pounds and had used the ADVFN shares in issue which as usual is wrong. Do not know where ADVFN get their nos from but I have noticed they are often out of date. You can check on the KIM web site under rule 26.

Hope it comes good for you all.

AW

[patent2] 28/9/2008 18:17

aw

Is your 6.75m for 48% ?

[amazon_woman] 28/9/2008 16:45

Guys be careful Dwyka's nos are in $s I assume AUD. On the basis of the figures in DWYs accounts KIM have been valued at around $15m which is around £6.75m.

KIM's web site indicates there are 270m shares in issue and their interims stated 184m shares as at 31 Dec 2007.

On that basis the value per share as stated in DWY's accounts is 2.5-3.6p per share depending on exactly how many shares are currently in issue.

Not sure how DWY calculated the value in their accounts and yes it could get sold for more but please do your own maths and do not rely on others. I only had a few and sold on friday but was interested to see what I might have missed out on.

Good luck

AW

[hyper al] 28/9/2008 16:03

Would be nice if we got more than "fair value"

[the mullah] 28/9/2008 12:59

AFD on the prowl?

[dcroston] 27/9/2008 16:17

teemore,
Dwyka own just over 48%

[philjeans] 27/9/2008 12:53

Potential 3 bagger on Monday then!

Roll on - my long s/b taken out Friday looks promising.

[teemore] 27/9/2008 12:30

I hope that this is the case droston and considering that these were launched to AIM at 15p. Time will tell. The statement by Dwyka Resources is pretty clear- the must know something about a sale/takeover etc. or are they just stating their planned position regarding their own shareholding. What %age do Dwyka own, is it close to 50%

[dcroston] 27/9/2008 11:34

HyperAl,

Based on your post 759, Dwyka are putting a value on its Kimcor holding at approx 9-10p per share, that interesting to know and obviously goes some way to explain why the share price jumped yesterday. I'd say based on that information, we'll see a similar jump on Monday all being well.

Regards,
DC

[hyper al] 27/9/2008 00:29

patent2

Thanks.

[patent2] 26/9/2008 22:32

mkt cap at the moment 5.03 m

[hyper al] 26/9/2008 22:13

If a buyer is around it could explain why we have not had a diamond sale as diamond holdings could be lumped into the sale.

If this is the case we should see an RNS.

[hyper al] 26/9/2008 22:05

So do Dwyka have a buyer?

[hyper al] 26/9/2008 22:00

From Dwyka Resources Annual Report and Accounts released today



"Effective from 21 September 2007 Dwyka completed a transaction with KimCor Diamonds Plc whereby KimCor would acquire Dwyka Resources' diamond and industrial assets, thereby being one of the lead participants in the consolidation of the diamond sector. The transaction established KimCor as a mid tier diamond producer by volume and the company raised GBP4.26m in fresh capital.

During the year KimCor focused on increasing production from the De Beers Tailings Retreatment Project (SMI4) and underground production from Newlands and Blaauwbosch as well as from the Nooitgedacht Alluvial Property. Month on month diamond production increased significantly during the year and by year end was averaging approximately 5,000 carats per month, with the target being 150,000 carats per annum.

In addition, KimCor explored during the year several joint ventures and other business combinations with the view that further growth and delivery of shareholder value in the diamond sector is likely to be achieved in this way.

Since December 2007 the Company has reclassified its shareholding in KimCor as non-current available for sale as it expects the investment will be recovered principally through a sale transaction rather than through the long term receipt of dividend income. As at 30 June 2008 the Company impaired the value of this asset to reflect the fair value, less estimated disposal costs, of the shareholding in KimCor."


I like this bit

"it expects the investment will be recovered principally through a sale transaction rather than through the long term receipt of dividend income. As at 30 June 2008 the Company impaired the value of this asset to reflect the fair value, less estimated disposal costs, of the shareholding in KimCor."

and the value assigned

"Impairment of non-current asset held for sale (7,181) - (7,983) -"

That's £7.1 million

We are currently sitting at £2.3 million if ADVFN value is correct.

Dwyka Resources also state that they expect to sell their 48.2% in Kimcor

"investment will be recovered principally through a sale transaction"

[cesc2] 26/9/2008 16:33

Hopefully the rise is because churchmouse has resigned

[hyper al] 26/9/2008 16:18

123asd

Thanks.

Have a good weekend.

[123asd] 26/9/2008 16:14

Hyper - good luck here, I hope it turns out well for those still invested.