Namakwa Diamonds Share Discussion Threads

[lukeisbackontrack] 11/4/2012 12:58

Not even a year ago i been buying theese @40p grrr

[zhenlinyoung] 11/4/2012 11:51

am I correct that half year result is tomorrow?

[123asd] 11/4/2012 11:23

He did have, till some special forces got to him.

[applelover] 11/4/2012 11:14

You need to get a job binladin, or at least a hobby.

[binladin] 11/4/2012 09:19

sp will always be hit........this is like throw money away,this co was reserrected only few months ago.......it looks like its goingback in the hole...

[fistral surfer] 10/4/2012 20:52

Very disappinting news but NAD has been upfront throughout. If the company can pull this off the shares will rocket and the current pain being experienced by shareholders will seem a distant memory. Hold on in there and keep everything crossed! There is a real possibility that NAD will succeed.

[zaksab] 10/4/2012 20:26

Who would you rather be Jarvirne/Sputnik or a private shareholder. They loan money at huge interest rates - if the company pay they make great returns, if it doesnt, they take the equity. Pretty ovbvious why they want to charge astronimcal interest rates.

[applelover] 10/4/2012 20:07

I topped up at 3.15p early doors believing this to be an overaction to the rns. I was feeling fairly smug by 10:30 am. No feeling so smug now:)

I've got 17112 at an average of 4.5p. Fingers crossed

[onceabroker] 10/4/2012 17:22

A terrible update, wholly unexpected, and certainly not the RNS holders were waiting for this week. Cant help thinking who dropped the whispers to the sellers in the past, and it smacks of insider dealing going by the number of sells in the last few weeks. But finished we are not, under the cosh we are.

Firstly lets have a look where we are today, and draw any positives we can from today's news flow.

We have just been given a $10m bridging loan, and what no one has mentioned here is that the loan is 'unsecured', when you consider the risk to Sputnik on a default, you have to assume that they did their due diligence prior to giving this loan. They would have been shown at the bare minimum that NAD are in advance talks for negotiating a new loan to replace the Jarvirne loan, and i would predict this could be with Sputnik? only a guess in this stage though. It goes without saying that NAD where hoping for the Kimberlite Investments Lesotho Limited donation of approx $11m, and in the absence of this money it sought to make sure the company had enough cash flow whilst it addressed the KAO mines issues.

So what are we expecting from here:

1/ Half year results due this week or early part of next week.

2/ The scrubber is scheduled to be reinstalled and operational during May 2012

3/ Two new cone crushing units purchased. One unit was installed in late March 2012 and the second will be installed in June 2012.

4/ Given the operational challenges at Kao, together with the delayed execution of a potential sale of non-core assets and continued discussions with Kimberlite Investments Lesotho Limited in respect of the payment for its 12.5% share............no dates given for these two items, but we could have a announcement at any time regarding either.

So given the dates above, are we to assume (without further delays and bad news) that by June 2012, or lets say July 2012 because that is the estimate for the Kao to go net cash positive, that we could have positive news in regards to all issues fixed and Kao working at full production. That is 3 months away, sell at a loss today, or go for the chance of positive trend any time between now and the next 3 months, it would seem to be the right judgement call to hold and give the company the chance to regain shareholder value in the short term.

There is more news flow expected, and as Didge has already said, that the possibility of further bad news is greatly reduced.

best regards

John

[bam bam rubble] 10/4/2012 16:24

The company does not look long for this world.

Around half the Jarvirne loan facility was conditional on confirmation the company had adequate working capital to mid-2012. They've now said they have insufficient working capital, so while not a default in the normal sense of the word it looks like Jarvirne (controlled by Ed Prutnik) is putting the pressure on to get control of the Kao mine.

Prutnik has replaced the last $5m of the Jarvirne loan with a $10m bridging loan from Sputnik Ltd. accruing interest at 15-18% depending on whether repayment is made by June 2012, after which the interest rate rises to 27%. With the Jarvirne loan (circa $35m) accruing interest at 24% from Sept 2012 and question marks over the company's ability to repay its debts as they fall due, ordinary shares may ultimately be worthless.

[illuminati1] 04/4/2012 16:54

Wrong 2.000.000 since the end of January!!



13.500.000 holding then
Look at movers.
JP Morgan up with 7.500.000 in January.
But who is selling/bleeding? Kruger family?

[tomboyb] 04/4/2012 11:40

JO Hambro have picked up 500k -

[tomboyb] 04/4/2012 11:38

1: NOTIFICATION OF MAJOR INTEREST IN SHARES
--------------------------------------------------------------------------------------

1. Identity of the issuer or the underlying Namakwa Diamonds Limited
issuer
of existing shares to which voting rights
are
attached: (ii)
------------------------------------------------- -----------------------------------
2 Reason for the notification (please tick the appropriate box or boxes):
--------------------------------------------------------------------------------------
An acquisition or disposal of voting rights Yes
----------------------------------------------------------------------------- -------
An acquisition or disposal of qualifying financial instruments
which may result in the acquisition of shares already issued to
which voting rights are attached
----------------------------------------------------------------------------- -------
An acquisition or disposal of instruments with similar economic
effect to qualifying financial instruments
----------------------------------------------------------------------------- -------
An event changing the breakdown of voting rights
----------------------------------------------------------------------------- -------
Other (please
specify):
------------------ --------------------------------------------------------- -------
3. Full name of person(s) subject J O Hambro Capital Management Limited
to the
notification obligation:
------------------------------------------ ------------------------------------------
4. Full name of shareholder(s)
(if different from 3.):
------------------------------------------ ------------------------------------------
5. Date of the transaction and date 3 April 2012
on
which the threshold is crossed
or
reached:
------------------------------------------ ------------------------------------------
6. Date on which issuer notified: 4 April 2012
------------------------------------------ ------------------------------------------
7. Threshold(s) that is/are crossed Through 5%
or
reached:
------------------------------------------ ------------------------------------------



8. Notified details:
--------------------------------------------------------------------------------------------------------------------------
A: Voting rights attached to shares
--------------------------------------------------------------------------------------------------------------------------
Class/type Situation previous Resulting situation after the triggering
of to the triggering transaction
shares transaction

if
possible
using
the ISIN
CODE
----------- ----------------------------------- ------------------------------------------------------------------------
Number Number Number Number of voting % of voting rights
of of of shares rights
Shares Voting
Rights
----------- --------------- ------------------ ------------- ------------------------- ------------------------------
Direct Direct Indirect Direct Indirect
----------- ----- ------ ------ ----- --- ------------- -------------- --------- --------------- -------------
Ordinary
Shares
B29QKK2 15,000,000 15,000,000 15,500,000 15,500,000 5.09%
--------------- ------------------ ------------- -------------- --------- --------------- -------------


B: Qualifying Financial Instruments
--------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
--------------------------------------------------------------------------------------------------------------------------
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date Conversion Period rights that may rights
be
acquired if the
instrument is
exercised/ converted.
-------------------- -------------- -------------------------------- ----------------------------- -------------------


C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments
--------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
--------------------------------------------------------------------------------------------------------------------------
Type of Exercise Expiration Exercise/ Number of voting % of voting rights
financial price date Conversion rights instrument
instrument period refers to
------------- ------------- ------------- ------------------ ------------------------------ -------------------------
Nominal Delta
------------- ------------- ------------- ------------------ ------------------------------ ------------- ----------


Total (A+B+C)
--------------------------------------------------------------------------------------------------------------------------
Number of voting rights Percentage of voting rights
------------------------------------------------------------- -----------------------------------------------------------
15,500,000 5.09%

[tomboyb] 03/4/2012 21:08

Well i have been adding at these levels - A few in my ISA - Good luck

[tomboyb] 03/4/2012 14:24

Tried to get a quote of around 100k - was offered 75k but not in one trade - market volatility -

[rabybay] 03/4/2012 13:05

looks like its time to pick some of these up at this price...

[naked trader] 29/3/2012 09:38

Have been watching for a while but decided to buy a few today sub 5p. No 1 marketmaker wants your shares today!

[illuminati1] 28/3/2012 23:16

NAD tipped on motley fool 28.3.12

Since all the biggest diamond miners are out of the investing reach of most private investors, what diamond opportunities do exist for UK investors?
To form a starting point for further research, I screened UK-listed diamond miners for companies with modest prices and cash in hand.
The contenders
Let's take a quick look at the top five contenders by size, price-to-earnings (P/E) ratio and price-to-book value (PBV):
Company Market cap (£) P/E PBV
Petra Diamonds (LSE: PDL) 907.46m 22.5 2.09
Gem Diamonds (LSE: GEMD) 381.62m 9.8 1.5
Firestone Diamonds (LSE: FDI) 32.89m 3.18 0.75
Namakwa Diamonds (LSE: NAD) 17.42m - 0.41
Stellar Diamonds (LSE: STEL) 15.9m - 1.32
Source: Digital Look, FT
My two picks from this list are Gem Diamonds and Namakwa Diamonds. Gem recently reported tripled profits for 2011 and is on course to double the capacity of its Lesotho mine by 2014.
It has the potential for steady growth and already has higher revenues and profits than its FTSE 250 rival Petra, which looks a bit expensive to me.
Namakwa is a more speculative punt. Despite 2011 revenues of about £58m, it made a horrendous £32m loss last year. However, it is forecast to break into profit this year, which could spur share price growth from a current low of just over 5p.

[zhenlinyoung] 21/3/2012 11:50

very negative news today for NAD indeed..
Balta is playing dirty games...with huge debt and high interests rates waiting for us in september, and delays of the cash positive until Q2, the BOD must ACT now.

we can not afford to wait until Jarquines knocks on our door, or wait until news about further delay in the KAO project, or further delay for the KILL funding.... There are so many knifes falling in the sky....

[donald tramp] 21/3/2012 09:38

5p?

or

4p?

[onceabroker] 20/3/2012 18:11

these were done around midweek last week, but seem to be buys



comes to about 11,450,000

....................................................................................................................................................



check these delayed trades for last Friday which have only just been disclosed



we already know of the 2,344,851, now we have the following added, 3,000,000 / 1,999,622, and 1,050,000. that would be a total of almost 9 million shares sold, but who purchased??

...................................................................................................................................................


it can really only be Blackrock that have sold.

as of 05/12/12

BlackRock Investment Management (UK) Limited - 13,884,050 (4.57%)

we have had no holding RNS since from Blackrock . the other II have either increased their holdings or kept it level since that period.

if you put the few millions of shares prior to Friday that have been sold in blocks of 500 / 250 and 600, it would not have taken them long to get rid of all 13,884,050 up to last Friday. i don't believe only PI's have purchased these shares, and lets see who has taken advantage of the opportunity here.

Blackrock have been a constant seller since they had over 24 million of these back in Q4 2011, and have done more harm to NAD's share price then anyone else, on that comment.......i hope they have lost a lot of money!!!

best regards

John

[donald tramp] 20/3/2012 17:36

Nick Rubens - 20 Mar'12 - 16:10 - 81305 of 81350

ARE NAD ever going to sell diamonds for shareholder returns or do they just fund raise for wages?

[baffins] 13/3/2012 12:54

onceabroker,

It is not over yet and before you start "counting your chickens" may I draw your attention to the original judges unique comments and phrases used and consider that this is the colourful summary and interpretation of events of just one judge.

Although I am swayed to favour NAD I do not believe Batla/Toro would pursue this appeal if they felt they did not have a half decent chance of overturning the original verdict. This will be very costly for Batla and they do have successful alluvial operations in Lesotho aswell as other projects in South Africa.

Also you have to take into consideration that we, the lowly PI, does not know the whole story. All we know is the original judges colourful interpretation of the story known to him at the time of the case.

Deals at coffee shops in Bloemfontein involving a member of staff no longer connected to the company along with no evidence to support any deal then 2 months later Batla casually mention 50/50 split in an email despite NAD funding all the work. This is not the conduct of two supposed professional mining outfits is it.

I look forward to the appeal decision and I hope the verdict stands but I suspect there is more than meets the eye.

[onceabroker] 13/3/2012 12:11

baffins

it was very useful, i have to say that with no new evidence and the judges summary from the original case, it looks rather good for NAD, but fingers crossed anyway

best regards

John