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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pangea Diamond | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 1.375 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.375 | 1.375 |
| Top Posts |
|---|
Posted at 23/12/2009 10:01 by jkg2cac been in here for a while now - got in around 1.8p as I thought things would pick up from that price, unfortunately had to watch things fall for a while. However, it's good to see that things are starting to look up and a few other investors are coming out of the woodwork and popping up on this board! |
Posted at 25/11/2009 14:31 by patsy19 Hi guys...........Got into this one a few weeks back, signs medium term look good. Nice to see some other investors who have the faith. |
Posted at 22/8/2009 09:40 by george57 We can't seem to get this thread going,suggest any investors check out the iii board on PDF.Very bullish,and now being mentioned on the FML board as the next big one.Looking at the trades,the vast majority of reported sells were in fact buys.I strongly believe this will hit 3p in the next 2 weeks.Any people thinking of playing in this share,it can still be bought at 2p although that may not be the case on Monday about 8.30.DYOR,IMHO,etc,e |
Posted at 02/6/2009 09:44 by andrbea Where the smart money's been going in global miningHow and why the prices of 100 particular mining stocks have risen by an average of more than 500% (each) in the past seven months. /.. Investors are also taking bets on some of the members of the most heavily oversold subsectors; Australia-listed SA Metals, with interests in South African platinum group metals properties, has soared nearly 2,000%, somehow assisted by a recent name change, while Kopane Diamonds and Pangea Diamondfields have risen above their peers in terms of price performance, as has Opti Canada on its premium Canadian oil sands delivery. |
Posted at 10/1/2008 09:39 by smilewithme How to evaluate junior diamond firmsTheo Botoulas Posted: Wed, 09 Jan 2008 [miningmx.com] -- THE wealth created by the current bull market (which Peter Major believes is nearing its conclusion in an article elsewhere on Metal Heads), has resulted in strong demand for diamonds and the development of a new universe of both listed and unlisted diamond explorers and miners. The challenge for those desirous of investing in the "diamond space" is to benchmark and compare this universe of "junior diamond Companies" in a relevant manner in order to make a considered and informed investment decision. Diamond companies can be valued using earnings with the market ascribing a multiple to determine fair price. However, this method is only meaningful for companies which have producing assets, which junior diamond companies seldom own, although Gem Diamonds, Trans Hex and Petra Diamonds are notable exceptions. Few methods have been developed for junior diamond explorers which are primarily concerned with early stage exploration, or which have a large exploration portfolio supplementing their producing assets. Click Here to subscribe to our daily newsletterAn example of the type of method developed for benchmarking purposes in the gold industry, which is not readily available in the junior diamond sector, is the market value of a gold explorer per ounce of reported resource. However, this requires the definition of mineral resources into internationally recognized categories on a similar and comparable basis for all diamond juniors, which may be more easily said than done. There are a number of determinants investors can use to assess diamond companies. These include the relative scarcity of diamond production compared to gold and platinum for example, the segregated nature of the diamond market and the nature of a company's production be it gem or near-gem quality stones or industrial diamonds. Investors should consider the segregated nature of diamond deposits, which range from kimberlite pipes, fissure systems or alluvial deposits in river systems and the sea. These all involve unique operating cost structures. The location of the deposits is another critical factor to consider when evaluating diamond companies as well what strategy they adopt with their assets. The skills within a company are vital to build, develop and operate diamond plants in the current environment of skills global shortages, while the security policies a company has for its diamonds has to also come under consideration. All the above factors determine the likelihood of a Company proving sustainability over time. Diamond juniors are perhaps exposed to a larger measure of risk than their peer group in other commodity types. The fact remains that in the order of 1% of kimberlite pipes are economically viable and become mines. The amount of time required to bring a new kimberlite to account from the time of discovery to mining has varied in the past from between four and twelve years. At present, there are no new major mines on the horizon with the major discoveries in which junior Companies have an interest being the AK 6 pipe in Botswana (African Diamonds) and Alto Cuilo in Angola, in which Petra Diamonds has an interest. A good example of a junior diamond Company which has proved sustainability over time is the South African alluvial miner and explorer Trans Hex Group Limited, a Company which has a core and supportive major shareholder, technically capable management over a wide array of disciplines, a sound reputation and integrity with regards to diamond audit and security, an ability to deliver "on the ground", a solid portfolio of assets, a niche gem quality production and a very strong "culture of diamonds". These attributes, which are developed over time and to which the new entrants to the industry aspire, are the key to the creation of a successful and sustainable junior diamond Company which is able to withstand the uncertainties and risks associated with the exploration for, and operation of, diamond deposits through the exploration to production cycle. The selection of junior diamond Companies on offer to investors is therefore not dissimilar to the diamonds which these Companies aspire to discover or produce. Some are of differing quality, others may display internal flaws or weaknesses, all are of varying sizes, yet each one is unique. Ultimately, the decision to invest in a particular Company may be a matter of opinion and at the discretion and to the taste of each individual investor. This new universe of diamond juniors will report results, disclose and present reserve and resource statements, strategies, and plans for both current and future projects. Because of the scarcity of productive kimberlite or alluvial deposits, very few will be in a strong cash generative position and will have the ability to disclose earnings metrics in the short term. Ultimately, the management of these the diamond juniors can only deliver projects and report results, and the market analysts, fund managers and investors will deliver the techniques and benchmarks to ascribe a value to, and rank, them. |
Posted at 09/7/2007 16:38 by smilewithme River Diamonds Pulls Plug on LDC Acquisition By Avi Krawitz Posted: 07/09/07 02:59 [Submit Comment] RAPAPORT... River Diamonds has dropped-out of a deal to buy a 4.8 percent stake in Lesotho Diamonds Corporation (LDC.) River Diamonds chairman Colin Orr-Ewing told shareholders July 6, 2007, the company decided to walk out on the deal after "consulting with both shareholders and River management." River Diamonds will retain a 0.5 percent stake in LDC. LDC is 38 percent owned by Alan Bond, who was hoping the deal's GBP 4 million ($8 million) cash injection would edge LDC closer to a listing on the London Stock Exchange's AIM. Funds were to be used to develop LDC's advanced stage Kao Diamond Project in Lesotho, LDC stated when the deal was first announced in May 2007. The Koa project is said to have a diamond reserve of 10.19 million carats and is touted to have strong mining potential. However, Bond's involvement in the project has deterred investors, given his controversial past, having been convicted in Australia's biggest fraud case for which he served a 3-year prison sentence. Bond was hoping the River Diamonds deal would secure his stake in the company, which has been threatened by a group of rebel shareholders who claim his involvement is hindering progress at the Kao mine. They recently lured exploration company Pangea Diamond fields into bidding for a controlling stake in LDC. In a countermove, Bond has reportedly approached a Middle Eastern investor to buy a one-third stake in LDC, thus reducing his own share to 30 percent. |
Posted at 25/6/2007 12:24 by smilewithme "So far Pangea has not spent any money on Kao. But it is not walking away from what it claims may be one of the largest unexploited diamond resources in the world"Since the Lesotho Government supports PDF, believe it's only a matter of time before they get their hands on this gem and the project starts to move. smilewithme Lesotho: Juniors Tussle Over Diamond Mine Business Day (Johannesburg) 25 June 2007 Posted to the web 25 June 2007 Emma Muller Johannesburg A COMPLEX takeover battle between two junior miners over Lesotho's Kao diamond project could have important implications for the Lesotho government. Lesotho relies heavily on foreign investment to develop its natural resources, in particular diamonds, an important revenue stream for the government since the reopening of Letseng diamond mine in 2004. Lesotho's political stability and investor-friendly mining regime have helped some interesting projects get off the ground, such as Letseng, which produced the Lesotho Promise, a 603-carat stone, bought for $12,36m by the famous jewellers Graff. Kao is another potential gem. If it goes into production, the government can earn up to 20% from the project. Based on projections from 1972, the mine can produce about 740000 carats a year with a mine life of more than 23 years. A new study on the mine is expected some time this year. A bulk sample study, scheduled by the Lesotho Diamond Corporation (LDC) for the beginning of the year, was recently moved to June. This has now been pushed back to the end of the third quarter because of what the company said was bad weather, particularly in winter. The latest twist involves AIM-listed Pangea Diamonds Fields, the junior miner run by South African entrepreneur Rob Still, and the LDC. Alan Bond -- the Australian business man who served three years in jail from 1997 to 2000 for Australia's biggest corporate fraud -- holds a significant stake through family trusts. Excluding the shareholding from LDC's "supportive investors" -- River Diamonds and RAB Capital (a London hedge fund) -- Bond's stake is about 38%. Bond's involvement in Kao dates back to 2003, when he set out to raise funds for Kao's development. Sources familiar with the case say Bond's involvement in Kao is one of the reasons that more than 40% of LDC's shareholders recently approached Pangea to make a bid for the company. Last month, Pangea launched a conditional offer for LDC, saying its main objective was to speed up the possible development of Kao, with commencement of a bulk sample study as its first step. In its offer announcement, Pangea said it had the management and liquidity to bring Kao into development, with Still saying all he wanted was to move the project forward. The company also wants to share management and have joint board presentation with LDC -- an offer Bond rejected. Meanwhile, some have questioned Bond's ability to raise money. In 2004, LDC unsuccessfully pursued a listing on London's AIM. The Times then suggested that Bond's links to LDC as a consultant, and the size of his shareholding, had hurt interest. A London-based analyst says: "Bond's reputation in all investment markets is poor. So far they have not been able to raise money." LDC said it was comfortable it would be able to raise funds for the bulk sample. According to a spokesman in London, a "major investor in the Middle East" was interested in taking a substantial stake, and was now doing a due diligence investigation. The Letseng mine, in which the government has a 30% stake, has given it huge prestige as a small but successful exploration ground with a production that has exceeded all expectations. Although the average dollar value of diamonds produced by Kao is considerably less than that of Letseng, world production declines could help to improve Kao's profitability. So far Pangea has not spent any money on Kao. But it is not walking away from what it claims may be one of the largest unexploited diamond resources in the world. The government, keen on the project taking off, could risk further delays from the protracted battle. It declined to comment. But Bond's increased involvement in the project is a bigger concern, according to industry sources. Bond has presented himself as a consultant to LDC, although his influence and stake through family trusts has increased considerably since 2003, when he held 25%. Bond's son Craig also sits on the board of the Gibraltar-registered company. The fact that more than 40% of the shareholders -- including geologists, and the former management -- have turned to Pangea is telling. "The last thing the government needs is Alan Bond. He is seen as an impediment to the company, because people don't want to invest in it," says the analyst . |
Posted at 20/6/2007 11:38 by chris1983 Battle for control of Kao A complex takeover battle between two juniors over Lesotho's Kao diamond project could have important implications for the government. The landlocked country in the highlands of southern Africa relies heavily on foreign investment to develop its natural resources, in particular diamonds which have become an important revenue stream for the government since the re-opening of Letseng diamond mine in 2004. Lesotho's politically stable climate as well as an investor friendly mining regime, has seen some interesting projects come off the ground, such as Letseng, which produced the Lesotho Promise, a 603-carat stone, purchased for $12.36 million by Graff, the famous jeweller. Kao is another potential gem. If it goes into production, the government can earn up to 20% in the project. Based on projections from 1972, the mine will produce around 740,000 carats per year with a mine life exceeding 23 years. A new study is expected sometime this year. The latest twist involves AIM-listed Pangea Diamonds Fields, the junior miner run by South African entrepreneur Rob Still, and Lesotho Diamond Corporation (LDC) in which Alan Bond, the Australian businessman who served three years in jail from 1997 - 2000 for perpetrating Australia's biggest corporate fraud, through family trusts holds a significant stake. Including, the shareholding from LDC's "supportive investors" River Diamonds and RAB Capital (a London hedge fund) his stake is around 50%. Bond's involvement in Kao dates back to 2003, when he set out to raise funds for Kao's development. According to sources familiar with the case, Bond's involvement in Kao is one of the reasons why over 40% of LDC's shareholders recently approached Pangea to make a bid for the company. Last month, Pangea launched a conditional offer for LDC, saying its main objective was to speed up the possible development of Kao, with commencement of a bulk sample study as its first step. In its offer announcement, Pangea said it had the proper management and liquidity to bring Kao into development. The company also indicated that it wants to share management and have joint board presentation with LDC an offer Bond rejected. A bulk sample study, scheduled by LDC for the beginning of the year, was recently delayed until June. This has now been pushed back to the end of the third quarter as a result of what the company described as bad weather conditions. Although, poor weather conditions are normal in Lesotho during this period of the year, snow is quite frequent in winter. Meanwhile, some have questioned Bond's ability to raise money. In 2004, LDC unsuccessfully pursued a listing on London's AIM. The London Times then suggested that Bond's links to LDC as a consultant and the size of his shareholding had dampened interest. An analyst speaking on the basis of anonymity said: "Bond's reputation in all investment markets is poor. So far they have not been able to raise money." LDC said it was comfortable it would be able to raise funds for the bulk sample. According to a spokesman in London, a "major investor in the Middle East" was interested in taking a substantial stake, and was now doing due diligence. The Letseng mine, in which the government has a 30% stake, has given it huge prestige as a small but successful exploration ground with a production that has exceeded all expectations. Although the average dollar value of diamonds produced by Kao is considerably less than that of Letseng, world production declines could help to improve Kao's profitability. So far Pangea hasn't spent any money on Kao. But it is not walking away either from what it claims is potentially one of the largest unexploited diamond resources in the world. The government, keen on seeing the project take off, could risk seeing further delays as a result of the protracted battle. But it is Bond's increased involvement in the project which is a bigger concern, according to industry sources. Bond has presented himself as a consultant to LDC, although his influence and stake through the family trusts has increased considerably since 2003, when he held 25%. Bond's son Craig also sits on the board of the Gibraltar-registered company. The fact that over 40% of the shareholders - including geologists, and former management - have turned to Pangea is telling. "The last thing government needs is Alan Bond. He is seen as an impediment to the company, because people don't want to invest in it," said the analyst, speaking on the basis of anonymity. |
Posted at 29/5/2007 22:50 by smilewithme On this basis we retain our BUY recommendation on Pangea without hesitation; the current portfolio alone justifies this. Ambrian 24th May 2007 Pangea DiamondFields plc - LDC battle warms up Buy Pangea DiamondFields plc (AIM:PDF) Mkt Cap: £73.2m Price: 62.5p BUY LDC battle warms up Pangea (PDF) has requisitioned an Extraordinary General Meeting (EGM) of the shareholders of Lesotho Diamond Corporation (LDC) in order to appoint two Pangea executives to the Board of LDC. LDC has refused to accept the proposed appointments to date. Pangea holds irrevocable rights over 48% of the currently issued capital of LDC following its conditional offer to shareholders in LDC announced on May 2nd. LDC holds 93% in the Kao Diamond Project in Lesotho, a diamondiferous kimberlite pipe with SAMREC compliant proven and probable reserves of 147Mt @ 6.9cpht (carats per hundred tonnes). Comment The battle for control of the Kao Diamond Project is beginning to warm up. The LDC Board dragging its heels on Pangea's proposed Board appointments and is seeking to undermine Pangea's offer with poison-pill style tactics by attempting to dilute-down Pangea's holding with the issue of large amounts of stock to other investors. Whether this is in the interests of current shareholders is questionable. The motivations of the Board are perhaps signalled by the proposed £40m fund raising for a bulk sampling programme set to commence in July. While we have seen no cost projections for this exercise the amount seems excessive and potentially gives away equity in the Company cheaply, before value can be added through positive results. Conversely, if unsuccessful, the excess cash will have to be alternatively deployed or returned. And so we expect the story to develop; PDF now conditionally has an effective 44% stake in Kao, an attractive prize which would complement their existing portfolio of diamond development assets and LDC is unwilling to cede control or, apparently, come to the negotiating table. In our view, Pangea makes an attractive investor for LDC. They have an exploration pedigree second to none and have demonstrated they can get things done. Within 12 months of its IPO and admission to AIM Pangea DiamondFields will have constructed and commissioned three new bulk sampling plants in three different African countries and continue to bulk sample a fourth project and pilot mine a fifth. On this basis we retain our BUY recommendation on Pangea without hesitation; the current portfolio alone justifies this. Kao represents an attractive opportunity as one of the world's largest undeveloped kimberlite pipes and bears comparison with Gem Diamonds' (AIM:GEM; £679 million) Letseng mine. But for so long as LDC is impaired and the Kao project undeveloped its worth is significantly diminished. |
Posted at 25/5/2007 15:33 by smilewithme Lesotho invites Pangea for talks Friday , 25 May 2007 · Nominations To Board "Premature" Without Recognised Shareholding · LDC Underlines Faith In Kao Project By Going Straight To Phase II Funding · Decision Taken In Interests Of Both Shareholders And People Of Lesotho · Good All-Round Headway Being Made At Mine Site Lesotho Diamond Corporation's independent directors are arranging a meeting with the CEO of AIM-listed Pangea Diamond Fields to discuss matters of mutual interest, said the company today. The company owns the Kao Diamond Project - one of the world's largest undeveloped diamond pipes - which is soon to enter first production. This follows Pangea providing Lesotho with assurances of 110m proxies which would represent 43p.c. of Lesotho's shares, but not the 48p.c. claimed, said Lesotho's executive chairman Mr. Morven Hay today. Family trusts associated with Australian businessman Alan Bond account for 38p.c. of Lesotho and supportive investors another 14p.c., he confirmed. Rejecting nominations of two Pangea nominations to the Board, Mr. Hay said: "It would be premature for the Board of Lesotho to support the nominations since Pangea is not currently a shareholder and, indeed, may never become a shareholder of Lesotho." The Board, he added, noted that there could be a conflict of interest in the activities with Pangea as Lesotho grows into a diversified diamond mining company. There is also the fact that Pangea has been unable to favourably enhance its share price since its flotation a year ago and has not developed any mining operations from its exploratory sites, even though some of its staff may have previous mining experience. Meanwhile, good headway is being made at the project itself, states the company, with the mining platform built, overburden cleared, a tailings dam almost completed, and a 1.8Mw of generating plant assembled. Much of the work completed in a mountainous hard-to-access location which in January-February suffered its highest rainfall for 70 years can be used as the infrastructure base for Phase II production. Mr. Hay observes that negative comments made publicly by Pangea on Lesotho's capital raisings of between $US29m to $US59m are unjustified. "Dissident shareholders have complained in the past that the company was not raising enough money. We would appear damned if we do and damned if we don't. The Board of Lesotho totally repudiates Pangea's comments and has sufficient faith in the Kao Diamond Project to raise the entire Phase II funding forthwith. The Lesotho Board feels it is not only acting in the interests of all its shareholders but also in the interests of Lesotho and the people of Lesotho as both project stakeholders and shareholders (with up to a 20p.c. stake)." Lesotho is publishing its audited financial results for the year ended March 2007 in a few weeks' time and will be holding its annual meeting in Gibraltar, where the company is registered, on Friday 7th September. Last year's meeting was held on 12th September. PHOTOS OF KAO MINE PROJECT AVAILABLE AT THIS OFFICE Further information: Morven Hay, Lesotho Diamond Corporation, 020 7659 5200 Wendy Baldock, Investor Relations, Lesotho Diamond Corporation, 020 7659 5200 John Greenhalgh/Ron Marshman, City of London PR Ltd, 020 7628 5518 |
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