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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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| Kimcor | LSE:KIM | London | Ordinary Share | GB00B0TNHV95 | ORD 0.5P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 0.325 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 0.325 | GBX |
Kimcor Diamonds (KIM) Share Charts1 Year Kimcor Diamonds Chart |
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1 Month Kimcor Diamonds Chart |
Intraday Kimcor Diamonds Chart |
| Date | Time | Title | Posts |
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| 20/3/2009 | 13:24 | KimCor Diamonds | 928 |
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Posted at 12/1/2009 16:41 by dcroston probably a few people taking a punt.....it did look very undervalued when the share price was hovering around 0.1-0.5p when you weigh up what assets KIM has. I'm not tempted myself. But good luck to those that are. |
Posted at 03/10/2008 11:04 by kenmitch Can someone explain? Dwyka own around 50% of KIM. Yet while KIM shares have trebled or more the DWY share price keeps falling and is down again today. Why isn't the DWY share price rising too? Or is the KIM rise the result of a few speculative buys prompting more speculative buys? Hope that is not the reason for the rise and that we will soon get positive news to justify it. Also who said that we should expect news from KIM today? |
Posted at 24/9/2008 14:38 by kenmitch If it was the first of the two alternatives then the obvious thing to do/to have done is to provide an update. In this market the shares might not go much (if any) higher on the news, but it would at least reassure long suffering investors. I know they don't have to update - but the mind boggles at the thought that they are cheerfully hiding good news and will then hit the market with a lot of lovely surprises. My conclusion based on the lack of news - which is what happened with expected good news re Bellsbank a good while ago - is that when we get an update it will be bad. I'm just hoping that it is not bad enough for the shares to be worthless, and also that they won't need to raise more money, which may well be a non starter. The share price is already discounting bad news so the hope must be that they are at least breaking even. Too much to hope that even if they aren't managing 15,000cpm that they are getting somewhere near? That would at least mean that the shares might hold their present level and we can all dream of better news and a higher share price one day in the distant future. We never stop learning at this game. I've never really got to grips with this share but have cottoned on far too late - as I did earlier with GTL in a different sector - to this obvious fact, that it has to cost them less to mine the diamonds than they get for selling them. So I now realise I took far too little notice of the fact that KIM have been very vague on this point. Somehow too the market always seems to know. With hindsight - since I had cottoned on to the market nearly always knows, years ago - I should have sold ages ago. Now, (and I guess others are in the same position) the % losses are so big (but fortunately my stake isn't thanks to my rule of never investing too much in shares I don't fully understand) I might as well risk losing what is left. A shame for those who have lost more and who believed the hype, but then remember the key point of never investing more than we can afford to lose and also not to blame bullish posters here for our investment mistakes. Anyway it might not yet come to that as it is just possible that even now we'll all end up holding a winner. Dream on! |
Posted at 09/9/2008 19:06 by dcroston Dire Cons,Any interest from Dwyka would obviously be viewed as postive from a KIM shareholder point of view with Dwyka being a major shareholder and also having a presence on the board. Of course, any interest Dwka may have remains to be seen and is purely speculation at the moment and of course the other side of the coin is that Dwyka decides to cut its losses and run which would obviously be devastating for KIM and perhaps signify the beginning of the end. Last time I spoke with someone from KIM, they implied pretty much that Dwyka had become less involved in the running of KIM - that may very well signify an air of confidence that Dwyka representatives have in KIM management being able to complete the job or it could be that they don't want to waste anymore energy and resources in KIM. I like to think that its the former rather than the latter or I'm certain Dwyka would have been parting with some of there 67m shares. As far as a consipiracy theory between KIM and Dwyka share price, Take your pick of pretty much any AIM stock and you would get the same result. |
Posted at 12/6/2008 16:54 by dcroston orm5,Go to post 555 to read the article. Ceckyspunt, Just have a slight query over your comment 'one of the problems with KIM is that there are not enough shares in circulation as dwyka hold too many...this appears to hold the share price back!' Surely, if there are fewer shares out there available to the market due to investors with large share holding surely this is share price positive as fewer shares available to trade combined with a high demand should equal a better price or is that being to simplistic or are you implying that the share price is held back by MM's when a high percentage of shares are held by investors (Dwyka in this case) for fear that they may dump their holding all in one go. Regards, DC |
Posted at 10/6/2008 12:07 by dcroston Thanks CescDifficult to believe such a thrown together article like this could send the share price tumbling, but it seems to have done the trick. There are a couple of things you can't really disagree with in the article though but to be honest it is blatantly stating the obvious. Yes, of course sentiment is poor towards KIM and share price movement is very sensitive on any buying or selling. It has been like that for quite sometime and he could say that about any number of companies, take your pick really. As regards the market not being impressed by resent positive statements that is a fair comment but that is perhaps because most of the plant modification have only recently been implemented so we have yet to see the true benefits of these yet, though there would appear to be plenty of room for optimism. This article takes a cheap shot at Bellsbank. But didnt menton that after the acquisition of Dwyka Diamonds, Bellsbank was never going to be the focus of operations. Yes, Bellsbank has been a logistical nightmare but it's quite rightly been put on hold until a mining strategy is reviewed. Bellsbank has approximately 3 years mine life so assuming operations resume sometime in the next 6 months or so then it is certainly not a disaster by any means. The plan has always been to process Bellsbank tailings first with a view to bringing Bosele into production so the timing would still seem on track considering Bosele is still in the early exploration stages. Briefly mentioned is SM14 but surprise surprise, there is no mention that SM14 will be processing at 150,000 tpa in the near future which is nearly three times more than it currently processes, with further plans to increase to 250,000 by the end of the year. At Newlands, tailings are processed to cover costs of underground development. UG development is being undertaken to open access to the current ore to be processed. This strikes me as progress but still no mention of it. No mention of the industrial side of Kimcor either, Supermix had become cashflow positive and this is projected to continue. Supermix also has the scope to cover approximately 60 per cent of the diamond mining operating costs at Nooitgedacht. The author doesn't appear to know whether its undervalued or not and doesn't even mention Blaauwbosch which is Kimcore's flagship operation which started processing ore from its underground mine back in April and with any kind of positive update would see the share price moving north fairly rapidly. There is no mention of any of Kimcore's exploration prospects either, so to my mind not a very convincing article one way or the other. I have to say that I am surpised that anyone would sell at this moment in time and off the back of such a poor article though I suspect the larger market is biding its time and waiting for further news before it decides, like me. DC |
Posted at 10/6/2008 10:03 by cesc2 STEER CLEARKimCor Diamonds - Lacks the X factor Undervalued? Perhaps, but this £12 million stock is swimming against the tide. The market doesn't care that it has become a larger producer since buying Dwyka Resources' diamond operations in 2007. The share price has more than halved in the past year, drifting on minuscule trading volumes. There is little to suggest that this downward trend is going to change. As a business, it has some small but tidy assets. Just not enough to excite investors in weak markets. It has spent several months modifying plants to increase production rates. At the latest operations update, in April, KimCor said its SMI4 tailings plant was processing around 2,000 tonnes a day for an average six carats per hundred tonnes recovery. Phase two expansion was due as Shares went to press, targeting 9,000 carats per month. The Newlands plant is set to process more kimberlite ore and the Nooitgedacht alluvial mine is beating recovery grade targets by 50%. It keeps issuing (mostly) positive trading updates, but the market is unimpressed. The Bellsbank project continues to struggle with water problems, and the mining and processing strategy is under review. Another problem is that Dwyka Resources owns 48% of the stock. This restricts liquidity and it dampens any speculation (which there is) that KimCor will be taken over. Dwyka isn't going to want full ownership as it is too busy with iron ore and other metal projects in Africa and now coal in the Philippines. It has already scaled back its holding from 50.09% to 48.2% to avoid having majority ownership. If you want to invest in a diamond or gemstone company, it is always worth considering quality of assets and costs of production. In this case, market sentiment is equally as important. Sentiment can change, of course, but at the moment it says stay clear of KimCor. |
Posted at 01/3/2008 08:54 by mirandaj Alerted to this by a post on ii and copied here: February 29, 2008 KimCor Packs Projects Into Its Portfolio And Looks Towards Profits This Year By Our Man in the City The trouble with being a listed company is that the movers and shakers behind the stock market are never satisfied, as KimCor Diamonds is finding out. It has become a much larger producer - albeit still in the junior bracket - since it bought Dwyka Resources' diamond operations last September. This transformation, it appears, has gone unnoticed. True to its word, KimCor has hit operational targets and completed the first phase of a planned upgrade to a former De Beers project that will eventually see production nearly trebled, and costs halved. The company's schedule also includes developing underground operations and expanding a diamond recovery plant. There is hard work ahead but the end-goal is certainly achievable. So why has the company's share price fallen near six-fold in the past two years? Well, it's fair to say that KimCor has had its share of troubles, among them problems with water that affected processing rates and production at the Bellsbank diamond tailings project. This issue was resolved in early 2007 and substantial progress has since been made. What's more, Bellsbank has now been complimented by two producing underground mines, an alluvial mining operation, and another dump processing project. Logic suggests that companies should stay focused on their operations and not worry about the share price. But When KimCor is generating revenue and expanding production at a decent pace, it's hard not to be concerned about the falling market valuation, which currently stands at just under £14 million. According to one view, the problem lies with the maths behind its operations. KimCor has been eager to talk about its project but it hasn't been explicit on operating costs. Until there is transparency on this matter, its share price could continue to slide. No doubt there will be a time in the near future when these figures are laid out for all to digest, but for now investors and the mining community can only focus on earnings forecasts made by stockbroker Ambrian. Ambrian reckons KimCor could achieve US$11 million profit on sales of US$16 million for 2008. This depends on achieving annualised production of 200,000 carats in the year and is based on rough cost estimates. The biggest asset in KimCor's portfolio is the tailings plant. Having finished the first phase of the upgrade, it will increase tailings processing from the 25,000 tonnes per month delivered in 2007 to 60,000 tonnes per month during March this year. And the following month, the company will start phase two of the upgrade, which ought to deliver 150,000 tonnes per month by August. As far as the mining side of the business goes, underground development at the Newlands mine should be beginning to pay off as production ramps up to double previous rates. The current projections are 5,000 tonnes per month for recovery at an average 23 carats per hundred tonnes. Meanwhile, production levels at Nooitgedacht, an alluvial mine, are being increased by a factor of four. Diamond values have averaged at around $500 per carat, while revenue is boosted by a sideline deal to supply aggregate to the group's industrial products division, Supermix. KimCor claims that aggregate-related earnings have the potential to cover around 60 per cent of the mine's operating costs. A contractor will undertake around half of the work to help process 1.2 million tonnes per year of alluvial gravel at Nooitgedacht, from which KimCor will get 15 per cent of the gross proceeds and 25 per cent for large stones. At Blaauwbosch, a kimberlite mine supported by tailings processing, underground development continues. Not content with five producing operations, KimCor has three exploration interests including a joint venture with De Beers in Tanzania. There may even be more assets added to the portfolio as chief executive Martyn Churchouse seek www.minesite.com |
Posted at 13/12/2007 15:35 by armand traore Diamonds: An Investor's Best Friend? By David Williams 12 Dec 2007 at 09:53 AM GMT-05:00 JOHANNESBURG (Business Day) -- Diamonds may be a girl's best friend, but are the diamond producers suitable for serious investors? Summit TV speaks to James Allan from the Allan Hochreiter consultancy DAVID WILLIAMS: Welcome to Face to Face, we're talking about the diamond market with James Allan of Allan Hochreiter. James, the diamond trade is different to others - let's talk first about supply and demand projected. My overall impression from what I have read is that demand is going to grow but supply is going to be pretty constant... JAMES ALLAN: Demand has been growing pretty well in the last four or five years - it peaked around 8% in 2002 but slowed global demand probably growing at around 5%, which is a fairly significant number of diamonds. If we think diamond production globally is around about $13 billion, a 5% growth rate is $650 million worth of consumption every year that's being added to the market. South Africa probably produces twice that so that gives an idea of the kind of growth rate in the world. In terms of supply, one of the problems with diamonds is they come from kimberlites, and everybody says, "I've got a kimberlite near Kimberley" and you say, "Whoopee, that's why it's called Kimberley." Kimberlites are very common - there are about 6,500 of them in the world, and of those there are probably 20 producing mines. From the statistics the geologists will tell you that maybe one in 100 kimberlites contains microdiamonds, and one in 100 of those may become profitable - so finding a producing kimberlite, or a kimberlite with the potential to produce, is extremely difficult. It's extremely costly - estimates have ranged from $500 million to $700 million to find a kimberlite that has the potential to become a mine. So it's extremely difficult to find new mines - you will see the most recent ones have been in Canada. In South Africa the most recent one was Venetia 25 years ago. The supply side is looking reasonably good at the moment in terms of some growth, but it's probably growing at 1% per annum - so demand is growing at 4% to 5% per annum, supply is growing at 1% per annum and you have an imbalance in the market. DAVID WILLIAMS: The industry has been revolutionised over the last few years. De Beers changed their approach, the stockpiling stopped - there's much more supply and demand the real market operating - but is South Africa closer to the gold industry? The gold mines were discovered early, but they're largely mined out. One thinks of De Beers' aerial prospecting over huge areas of land that saves a lot of money - where do we stand in terms of future prospects in South Africa? JAMES ALLAN: I think everybody keeps going over the same ground in South Africa hoping that new technology will reveal something that hasn't been found before. The reality is that some of the big mines in South Africa are getting towards the end of their lives - we've seen De Beers sell Cullinan for instance to a smaller player Petra Diamonds [LSE:PDL]. They will probably make a great success of it as they have done with Koffiefontein. Finch Mine is coming to the end of its Block 4 - they have then got to think about, do they go underground to the next level which is Block 5? They will face the same dilemma that they did with Cullinan. Venetia has to go underground in 2020 - they start drilling next year to delineate the ore body at depth, so there's a massive plan in place there - but at this stage there are no new big kimberlites to be found in South Africa, or so we think. DAVID WILLIAMS: Reading a report by Tessa Kruger which quotes analyst Des Kilalea, they identify the top 10 investable diamond companies by market cap - it's interesting only one of them is South African, and that's Trans Hex [JSE:TSX] - but you say Rockwell [TSX-V:RDI] has now overtaken them. We spoke to Rockwell a couple of weeks ago when they listed... JAMES ALLAN: I must note here that I am corporate advisor to Rockwell - and was involved in the listing and the capital raising process - so I'm obviously a little bit biased in that direction. Rockwell's market capitalisation is around about the same as Trans Hex, possibly slightly larger on any given day. It's listed in Toronto as well as in South Africa so one needs to take a look at that - the fact that there are shares listed in that country as well. So that will make two companies listed in South Africa in the top 10. DAVID WILLIAMS: Looking at the sector there's lots of little companies doing things - consolidation ahead which means different opportunities for investors? JAMES ALLAN: Absolutely. I think there's probably 30 companies in what we would call the mid-tier market capitalisation globally that are involved in diamonds. Some of those are producers - very few of them I'm afraid - some of them are explorers, and most of them have got a great deal of blue sky. There will be consolidation in that industry as we go forward. DAVID WILLIAMS: What about pricing? Other commodities have run very hard in the last few years - some of them are obvious, China needs iron ore - how do diamonds compare in terms of price? JAMES ALLAN: We have seen iron ore go up by 30% and 40% in recent price increases, we've seen copper prices double and triple over the last five years and similar things with all the industrial metals - what we have got to realise is that the Chinese economy is at the stage where it's consuming industrial metals, and that's been really driving the commodities market. Where diamonds are concerned the Chinese are consuming more and more diamonds - growth there is in the double digit area - but China is probably only consuming about 3% of the world's diamonds at this stage, so it will be some time before China has the same kind of impact on the diamond market as it has on the other commodities. Nonetheless, diamond prices if we talk about on a global average are probably 35% to 40% up on where they were in 2002. You must remember of course that historically the diamond market was a more managed market, and you certainly didn't see the volatility in diamond prices that you had in the other metals - so it was coming off a higher base. DAVID WILLIAMS: The desirability of diamonds - it's a unique commodity that depends on what people think, they don't need it to do things - is there any chance the market could fail because desirability leaves? JAMES ALLAN: We could debate whether people need diamonds or not. I would just point to the fact that while I was waiting for you I pulled the plastic model diamond out that John Bristow showed you on the show a couple of weeks ago - immediately all the women working on their computers clustered around to look at this piece of plastic they thought was a diamond. Women love diamonds, men love women - I think as long as that carries on we've got a diamond market. DAVID WILLIAMS: That enduring phrase springs to mind: "Diamonds are a girl's best friend." JAMES ALLAN: An absolutely phenomenal phrase. DAVID WILLIAMS: The best friend of investors in the next couple of years? JAMES ALLAN: I think that it will be a very good friend of investors - remember it's got to compete against all the other asset classes. We've seen massive increases in stock prices for many of the other commodities - diamond shares have underperformed relative to the others - so a lot of investors are saying this is the next sector that's going to perform over the next five years. Let's not forget that we are looking at a growing deficit in diamonds - growing over the next five years to maybe an $8 billion rough diamond market in a total market of $13 billion - so very good demand could come through for some of the shares, particularly those that are producing diamonds. I think this is going to be the key thing investors are going to look for is delivery - it's all very well having blue sky and having lots of what the Canadians call "moose pasture" that we might call "gorilla pasture" if you're in the DRC or "sheep grazing" in the Northern Cape - but more and more investors are going to say, "Where is the delivery from the company?" With Summit Business TV. |
Posted at 26/9/2006 07:06 by milner2 Exploration ProjectRNS Number:4298J KimCor Diamonds plc 26 September 2006 26 SEPTEMBER 2006 KIMCOR DIAMONDS PLC (AIM: KIM) KOFFIEFONTEIN EXPLORATION PROJECT KimCor Diamonds plc ("KimCor" or the "Company"), the diamond producing and exploration company with properties in South Africa, is pleased to announce the signing of a memorandum of understanding (the "Memorandum") between Free State Diamond Mines (Proprietary) Limited ("Free State"), KimCor's wholly owned subsidiary and CFM Diamonds CC ("CFM"), with a view to acquiring an advanced exploration project 50 km south of Kimberley in the Koffiefontein kimberlite cluster. KEY POINTS *One kimberlite pipe and satellite - drill tested with indicator minerals consistent with diamond bearing kimberlite; *Further 13 circular magnetic anomalies have been identified; *Approx 10,000 hectares added to the Company's portfolio of exploration properties; *Low up-front consideration of approximately #103,000; and *Majority or vendor consideration is contingent upon success of exploration programme. The Assets This project is an advanced exploration project 50 km south of Kimberley in the Koffiefontein kimberlite cluster and approximately 16 km to the north of the historical Koffiefontein pipe. The Koffiefontein mine, owned by DeBeers and opened in 1870, produced 7.3 million carats from an 11 Ha pipe. The project constitutes three separate prospecting licences which span 18 farms and coincide with surface owner agreements (the "Licence Area"). All necessary Department of Minerals and Energy ("DME") approvals have been granted to CFM and under the terms of the relevant sections of South African mining law, are transferable to Free State. In addition, Black Economic Empowerment partners are in place with participation only in profit mode. The Licence Area has been flown with magnetics and radiometrics by Geoscience of South Africa and a substantial number of targets characteristic of kimberlite pipes and fissures were located. The farm Nooitgedacht contains an elongate kimberlite pipe, which is estimated by the Company to be at least 1.9 Ha in surface area and has been confirmed by detailed ground magnetic surveying and 32 percussion drill holes (the "Eureka Pipe"). A smaller satellite pipe also occurs on the strike of the main fissure, which connects with a different strike fissure system on the adjoining farm Erasmus Hope. Percussion drill cuttings were concentrated and submitted to Mineral Services South Africa ("MSSA") for analysis. Geochemical testing of the concentrate, using the CaO/Cr2O3 plot of G9 and G10 garnets is consistent with the chemistry of diamond bearing kimberlite. MSSA comments "Overall, the indicator mineral data for this sample suggest a high diamond potential and additional follow up work is strongly recommended". A recent indicator mineral count also produced five micro-diamonds from a sample of 80 kg. In addition, during September KimCor completed a percussion drill hole sited close to holes drilled by CFM and independently confirmed the presence of kimberlite bearing indicator minerals consistent with that reported by independent experts. The occurrence of kimberlite on fissures on four of the farms covered, Nooitgedacht, Erasmus Hope, Boesmanspan and Doornkop was reported by Dr Percy Wagner in 1932. Certain other farms also display signs of pipe potential; plug like anomalies on at least three further farms Eureka, Graspan and Zamenzuipingpan require indicator sampling and ground magnetic surveys prior to establishing whether drilling and bulk sampling is warranted. A total of 10 first priority plug like anomalies have been identified by Geoscience of South Africa using the total field magnetic data and a further 24 anomalies using the first vertical derivative data. These anomalies all require ground follow-up by way of indicator sampling and ground magnetics to rate whether they require further work comprising trenching, drilling and or bulk sampling. Immediate work programme at Koffiefontein KimCor plan to complete a further ground magnetic survey to define the limits of the Eureka Pipe and the associated satellite pipes and fissures by the end of 2006. Following this the Company will submit further mineral concentrates to Mineral Services South Africa and commission an indicator mineral analysis using MSSA's Mantle Mapper processing method to determine diamond potential. Subject to the results of the analyses KimCor will commence stripping of overburden and begin bulk sampling to confirm recoverable grades ahead of a feasibility study early in 2007. The Memorandum The Memorandum records the intention of KimCor and CFM to conclude a Sale of Assets agreement. CFM, holds title to the prospecting licences coinciding with the surface owner agreement. It is anticipated that a new company will be formed to hold the assets; KimCor will own 69 per cent of the issued share capital while a Black Economic Empowerment Partner and a South African national will hold 26 per cent. and 5 per cent. respectively (the "Holding Company"). The purchase price payable by Free State to CFM in consideration of the sale of assets shall be ZAR1,400,000 (approximately #103,000) payable in two tranches. ZAR100,000 was paid in early September, 2006, upon signing the Memorandum and a further ZAR1,300,000 shall be payable to CFM by Free State upon completion of due diligence. The exploration programme shall be funded by Free State. The 5 per cent. shareholding in the Holding Company contemplated above will be subject to a call option in favour of Free State, exercisable within 30 days of Free State making application to the DME for a mining licence. The value attributable to the shares shall be determined by independent experts meeting the requirements of AIM in terms of a Competent Person. Free State and CFM will both appoint independent experts to value the property and the average of the valuations will be used to calculate the price payable. Where the valuations differ by more than 20 per cent. each party reserves the right to appoint further experts. Commenting on today's news, Martyn Churchouse, CEO of KimCor, stated: "This is an exciting opportunity for KimCor; Koffiefontein is an advanced exploration project in the same region as our current assets. I am confident that we will progress to a Sale of Assets agreement and continue to build on our portfolio of exciting diamond projects in the Kimberley area." The technical content of this press release has been reviewed by the Non-Executive Chairman of KimCor, Professor Gordon Riddler, BSc, MBA, FIMMM, CEng, CSci, CMkt, MCIM, MCMI who has 40 years of experience in the mining sector and is a Fellow of the Institute of Materials, Minerals and Mining, a recognised professional association. ---ENDS--- |
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