Namakwa Diamonds Share Discussion Threads

[the merlion] 03/7/2011 11:14

Yet again, not sure of the nonsense our man of many ID's, Nathand/skint365, continues to spout but no doubt it is more naive scaremongering misinformed drivel about a proposed court case which is very far from certain to even go ahead. In fact, one week later, Batla are still yet to provide details of their intended claim.

Only a naive poor performing consultant would attempt uncover court proceedings that currently do not even exist and I suggest only one in doubt to contact Mr Ryan Barrow at Namakwa. He is the man, not our resident naive misleading man of many ID, nathand/skint365, who believes FDI have some polished diamond deposits somewhere and also is unable to understand 'free float' despite being a supposed consultant in the financial industry. All I can say is I pity the fool who trusts his money with him after his constant misinformation not only here but also, more noticeable, in FDI for over a decade!

Should a claim be actually put together it is simply an opportunistic attempt with minimal chance of success. It is not only Storm Mountain Diamonds Ltd which are involved here, it includes the Government of Lesotho, the Attorney-General of Lesotho and African Alliance Lesotho Limited.

It is all dead and buried as far as I can see and a agreement was never in place as it soon became evident to all the parties involved that Batla were unable to provide the required resources to uphold the contract prior to reaching an early stage agreement and news of a claim by Batla is considered to be a frivolous action, now that the operations at Kao are nearing commercial production in September 2011.

Batla against the the might of Lesotho in an initial underhand ex parte basis with, at this stage, no actual claim being served on the many respondents by this small mining contractor.

Comical, utterly comical despite the desperate scaremongering ramblings of our naive man of many ID's, Nathand/skint365 and his desparation to find an issue that is not even there!

Amazing the lengths some will go to when they are bitter due to their poor investment decisions.

[nathand] 03/7/2011 09:20

Just checked the Namakwa website hoping to get some details on the Storm Mountains dispute which is hanging over their flagship Kao project as per the recent RNS.

No mention at all and I suppose it would be naive to think that they would publicise the event outside of the bare minimum legal requirements (i.e. notification of potential price sensitive events - for that read share price slump).

Whilst on there though I had to laugh at the investor relations pages at this time with particular reference to the 'Current' share price stated : 43p!

Somewhat economical with the truth there or should I say, totally inaccurate.

Courtesy of at this time:

Share Price Information
Current: 0.43 Bid Price: 0.39
Change: -0.75 High: 0.40
Change(%): -1.86 Low: 0.39
Open: 0.40 Fifty two week high: 0.65
Close: 0.40 Fifty two week low: 0.33

[the merlion] 01/7/2011 10:59

Not sure of the nonsense our man of many ID's, Nathand/skint365, has spouted but no doubt it will be more scaremongering misinformed drivel but just for the fact register.

Batla Minerals who are the ones making the noise (along with our poor performing consultant of many ID's, Nathand/skint365) are still yet to provide details of the intended claim. It is not even certain to go ahead.

I know for a fact it is an opportunistic attempt with minimal chance of success even if a claim is put forward. It is not only Storm Mountain Diamonds Ltd which are involved here, it includes the Government of Lesotho, the Attorney-General of Lesotho and African Alliance Lesotho Limited.

It soon became evident to all the parties involved that Batla were unable to provide the required resources to uphold the contract prior to reaching an early stage agreement and news of a claim by Batla is considered to be a frivolous action, now that the operations at Kao are nearing commercial production in September 2011.

Batla against the the might of Lesotho in an initial underhand ex parte basis with, at this stage, no actual claim being served on the many respondents by this small mining contractor.

Comical, utterly comical despite the desperate scaremongering ramblings of our man of many ID's, Nathand/skint365.

[nathand] 01/7/2011 08:23

If the case goes to the High Court then you can expect a lengthy delay before judgement in my opinion, I would not discount 12 months plus. This is based on other diamond asset disputes as reported though of course no two cases would be the same.

You can review all the rulings on a search criteria via the following link:



The real question would be whether the plaintiff could legally halt the Namakwa operations while the case is pending which would clearly be a devestating ruling in terms of Kao progress (and one would imagine the share price).

[the merlion] 29/6/2011 16:23

I understand the case is being brought about by Batla Minerals which is still yet to be fully detailed or even certain to go ahead. Batla Minerals were the original contracting company that was named as a potential contractor to process the weathered ore at Kao.

The group were potentially entitled to a 12.4% equity stake in the project, however discussions were concluded prior to reaching an early stage agreement as it was soon evident Batla were not able to provide the required resources to uphold the contract. Consequently upon failure to reach an agreement, discussions were terminated and the Kao mine plan was amended to include a dual feedstock processing facility.

Simply chancers in a desperate attempt to get a seat on this multi billion dollar asset.

[the merlion] 29/6/2011 14:53

"Not much chance of wining a fight against the Lesotho Government"

Exactly!

Frivolous in every sense of the word.

[abtwo] 29/6/2011 14:21

Looks like Mr Lebona Lephema of Executive Transport (Mining Contractor) has grown tired of waiting to recover his money lost to the previous owners of the Kao licence.

Not much chance of wining a fight against the Lesotho Government.

[the merlion] 29/6/2011 12:19

Just thought I would provide some factual input as I have noticed that ADVFN's man of many ID's skint365/nathand is trying to worry onlookers, not only here on the FDI BB but also on iii with some misleading info regarding an issue he is totally ignorant about.

NAD was made aware by their subsidiary, Storm Mountain Diamonds Limited (SMD), at the end of last week, that a small mining contractor who they had previously sought to enter into contractual relations for the development of a portion of the Kao kimberlite pipe has obtained an ex parte order to seek to initiate court proceedings.

This action commenced without the knowledge of NAD as clearly detailed in the RNS hence the comment of "an ex parte order". Currently, actual claim has not been served on the parties including the SMD, the Government of Lesotho, the Attorney-General of Lesotho and African Alliance Lesotho Limited therefore it is too premature to speculate the nature of any such claim.

Simple fact is NAD have been swift in informing the market of an issue which came to light late last week and NAD informed the market at the soonest possible time. This frivolous is action, now that the operations at Kao are nearing commercial production due September 2011 and it is certainly not as advanced as our man of many ID's would wish.

[the merlion] 28/6/2011 16:31

jscapper - 28 Jun'11 - 10:04 - 72 of 73

Freefall

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Oh dear, another useless predictions/observation.

Little wonder you have 'bottled' the 5k wager challenge and it appears that your predicted 20p is now even further away.

[the merlion] 28/6/2011 10:49

Just for the fact record.

I recently offered jscapper a wager as he stated he expects NAD to reach 20p.

This is a post I made on the FDI BB after he posted his 20p prediction over there, needless to say he has 'bottled' it:

Actually jscapper, I am so certain that your 20p prediction about NAD will not materialise that I am prepared to put my money where my mouth is.

I am so certain, I am more than willing to place a decent wager with you if you are to prepared to put your money where your mouth is too.

How about a £5,000 wager that NAD will not reach 20p from now until the turn of 2012?

There you have a 100% gain at the turn of the year if you are so certain that NAD will reach 20p and also, as announced today, there is a court case hanging over the head of NAD but yet I am more than prepared to put my money exactly where my mouth is, are you?

If you would prefer this to be arranged away from public view then you can contact me directly at [e-mail]

[jscapper] 07/6/2011 10:49

This will test the floor at 30p

[nellie1973] 09/5/2011 14:22

Namakwa Diamonds started with buy rating at Charles Stanley, target price 75p.

[rumithepoet] 14/4/2011 15:56

Jaglom on Namakwa. Ben 'market maven' Jaglom on the prospect of Namakwa

[nicedude1976] 21/3/2011 09:52

Oooops. Back over 60 again.

[oregano] 13/1/2011 15:59

there was a very thorough note published around the time of the placing from Liberum. Admittedly they are broker, so not going to be negative! but maps out the upside potential. So long as pricing remains good, I think this could be a belter in 2011, although maybe back end loaded. Agree, lack of PI interest a positive. and great to see management all taking up stock in the placing.

Namakwa's stagnant share price in last 18 months (+16%) reflects
fears over an equity raising, plus a lack of earnings visibility as the
company acquired and integrated 2 major acquisitions. With Kao's
construction set to start in 2011 and spectacular operational results
now coming from DRC, we forecast production will grow from 83kt
carats in FY'10 to +1.0Moz in FY'13. With visibility restored and
Namakwa trading at a mere 2.1x to our base case 2012 EBITDA, we
see a minimum +96% initial upside to £0.88/shr.

[sammu] 12/1/2011 23:53

New 2 year high today I think. I dipped my toe in earlier this week but I know little about the dimond market, so need to read up a bit.
Not too much PI interest it seems.

[abtwo] 21/12/2010 03:17

"No spin here, just facts."

Unlike NAD who are economical with facts scattered amongst their spin.

[raymund] 16/12/2010 21:49

zangdook, further to posts 50/52, Charles Stanley agreed on the ISA qualification early this week. C S had promised that I would not be disadvantaged so, at some cost to them, I was able to trade at the price quoted to me last week. Full marks to C S, despite an initial mistake they corrected it and acted with "my word is my bond" honour and excellent customer servive. So I am now "in" and look forward to developments. Thanks again for your initial pointer and reference to the ISA thread. Used this again yesterday before going into NYO in ISA, AIM/ASX listed.

[kav133] 16/12/2010 09:07

BB,

It has silently disappeared into a sale without a word after being bulled up in September.

It even appeared in the highlights of the RNS as follows:

High value diamond recovered

•Initial diamond recoveries include a large, high quality 13.74 carat diamond; value estimated at $5,000/carat

•Increases raw value of diamonds from bulk sample excavation by 68% from $149/carat (March 2010 valuation) to over $250/carat

•Company expects significant increase to current modelled value of $155/carat


If the stone was not included carat prices would have been below expectations.

Between NAD and FDI the is no questions of where the better investment is. NAD are streets ahead.

No spin here, just facts.

GL

[bookiebuster] 16/12/2010 01:54

re FDI

The stone itself was not made out to be important, 13 carats at few grand a pop so maybe sold for all of $30-50k... hold the phones... it was more the fact it was unearthed at shallow levels, therefore a good sign going forward that high quality stones will be found at depth

i.e. it was flagged up as a potential leading indicator not as a result in itself

They even said it had a small surface cavity on one side and a small crack on the other so hardly 'bulling the hell out of it' as the distinguished gentlemen puts it

Accusing others of spin while using it oneself is most unbecoming of a gentleman imho

[kav133] 15/12/2010 23:53

ABtwo,

Good luck with your assumptions based on cpht over 12 weeks work.

Clearly the market is not of the same opinion and I would suggest you rework your figures using stated production targets and less assumptions.

Even at a discount I rate NAD one of the better diamond plays out there today.

It could be worse, you could be in FDI who have just sold their best stone without saying a word after bulling the hell out of it in a September update.

GL

[abtwo] 15/12/2010 23:11

kav133,

As I said "economical" with the facts since the removal of the tertiary crushers would have resulted in fewer small diamonds being recovered. "Doing the figures" shows that if these were recovered then the average diamond price would have been quite a bit lower. It appears NAD are not "mature" enough to compare apples with apples and make a big deal about higher than expected diamond prices when this is not representative of forward production.

One could say that their comment "Revenue per ton remains in line with budget at reduced grades." indicates that diamond prices from future production will be almost 40% lower than that recently achieved from Kao.

[kav133] 15/12/2010 17:24

ABtwo,

Average grade for the period under review does not provide a meaningful metric against which to measure current and future operations and is provided for reference only. Grade was previously assessed during metallurgical testing in FY2010 at 19.38cpht for K6 and 6.6cpht for K-Other before the tertiary crushers were removed for re-commission within the plant for Phase 1 commercial production. Stockpile of pre-crush material will be recycled at a later stage. Revenue per ton remains in line with budget at reduced grades.

I am sure you are mature enough to acknowledge that Kao is "fresh out the box" with regards to recent production and there is a perfectly understandable explanation for the drop in grade from metallurgical testing at 19.38cpht and 12 weeks at 11.41cpht.

I am very confident and already up nearly 100% due to recent rises. I have no intention of selling as production future figures are outstanding without the need for additional CapEx. Do some figures and see.

[abtwo] 15/12/2010 03:38

Was looking to buy in however it appears NAD are being somewhat "economical" with the facts for their Lesotho project. They state that they are happy with the higher prices from Storm Mountain (Kao) but fail to mention the recovered grade from the K6 unit is almost half what was expected.