Pangea Diamond Share Discussion Threads

[scotty1] 04/5/2007 13:34

No smile not yet,but put it on my watchlist after hearing one or two
good reports :)

[smilewithme] 04/5/2007 13:30

Take it you are in then? ;-)

[scotty1] 04/5/2007 12:03

Don't think it'll be stuck round this figure for to much longer smile ;))

[smilewithme] 04/5/2007 12:01

Ah scotty, welcome.....

This one has been stuck around 60 odd p for a long time.

Seems a safe investment to me - in production already, with massive potential.

[scotty1] 04/5/2007 11:58

Nice find smile,you could be right about it flying ;)))

[chris1983] 04/5/2007 10:56

I'm in.

I agree smilewithme. Something is happening here.

[smilewithme] 04/5/2007 10:35

Ambrian have issued BUY note.

This one is gonna fly later.

[smilewithme] 03/5/2007 18:22

His reasoning is that such a move will diversify the risk profile of LDC by widening its geographic coverage. It will also, he says, speed up diamond production with management projecting that the DRC properties will have an operation plant in six months and production starting nine months later, with adequate funding from LDC. Not if the company fails to raise the money from the unnamed Middle Eastern investor, it won't. And the more one looks at this press release, the more it appears to be a smoke screen. The message that is intended is quite clear. The company needs no help from anyone else as it is busy with funding, mine development , deals and an IPO and the deal with River Diamonds hardly raised a ripple.

In this case the last paragraph of Minews's comment on this deal looks a bit questionable. It went as follows, "The alternative view is that the deal with River Diamonds is intended to put a rather more sane value on Lesotho Diamond Corporation to encourage a bid. Strength is added to this view by the fact that RAB Capital has shares in the company and has also lent it funds using other Bond assets such as Madagascar Oil as collateral. There is no fund manager better than Philip Richards at banging heads together when he sees that there is benefit to be gained. Maybe Alan Bond has been given such a headache that he is now willing to move on. Who the potential bidder might be is pure conjecture, but quite a few diamond producers must be doing their sums at the moment."

But no, we were on the right track Another day, another deal. Now AIM listed Pangea Diamondfields led by Rob Still has thrown its hat in the ring with the announcement that it is making a conditional offer to acquire a strategic equity stake in LDC. Apparently Pangea was asked by shareholders holding more than 40 per cent of LDC to come on board and Rob Still now has irrevocable acceptances from these shareholders. This puts him in a strong position when making an offer to other shareholders as they will realise that he is not going to go away. He has already made clear that he expects some more acceptances, but does not currently consider that majority control is an essential requirement. Indeed, he emphasises that "with the strategic shareholding that it already controls under the accepted offers, Pangea will be able to work constructively with the board and management of LDC to the benefit of all stakeholders of this exciting project."

This was the point that he made again to Minews on the telephone from South Africa when he said that this was not a hostile bid. The accepting shareholders wanted input from an experienced and technically skilled diamond company. Pangea has diamond assets in the DRC, the Central African Republic, South Africa and Angola at various stages of exploration development, ranging from early exploration through bulk sampling to a project at pilot mining stage situated in Angola. All are located within highly prospective diamond-bearing geological environments and most are alluvial, but a number of the target areas are also located within regions of kimberlite potential. Since 2003, Pangea has established a solid operational base with a total of 26 professionals stationed at project sites and in regional offices located in Bangui, Kinshasa, Johannesburg and Luanda.

It therefore brings with it the two assets that LDC needs, namely proven expertise and geographic spread. According to one of the leading diamond analysts in London Pangea also holds a trump card in the good relationship it has built with the Lesotho Government. The strange thing about all this is that if the Bond team realised that these accepting shareholders were unhappy, and it must have, why did it fire off so much of its ammunition before any offer appeared. It is something they may regret as this deal will run and run.


*Approach made to PDF by key LDC shareholders holding in excess of 40% of LDC's share capital to acquire a strategic equity stake.
*PDF has received irrevocable acceptances from these shareholders, and shareholders have agreed a cash payment of 8p per LDC share and one PDF warrant for every 3.75 LDC shares subject to certain terms and conditions.
*PDF will extend a conditional offer to all remaining shareholders on essentially equivalent terms and conditions.
*LDC has an effective 93% interest in the Kao diamond project, located in Lesotho

Published data on the Kao Project include:

1. Bulk sampling expected to commence in June 2007
2. Proven and probable reserves of 147mt at a grade of 6.9 carats per hundred tonnes
3. Net Present Value of £129 million assuming US$240/carat and a 12% discount rate
Kao will complement PDF's existing portfolio of alluvial diamond projects located in four African countries
Consideration payable in two tranches to minimise risk and dilution to PDF shareholders

[smilewithme] 03/5/2007 12:18

And this is moving now ..........

When will the hordes be here?

No stock available = any buys up and up!

[smilewithme] 02/5/2007 14:34

Just got in here.

[cestnous] 02/5/2007 08:08

Good news today. Should see a rise here hopefully. (Note that as is nearly always the case with my mining portfollio, the price rose immediately prior to the release due to insider trading.

[omadlom] 01/4/2007 13:55

Nice link makkaroni!

[omadlom] 31/3/2007 14:42

I think this share has the potential to turn out big.

[makkaroni] 11/3/2007 02:50

Diamonds and Pangea

[makkaroni] 05/3/2007 11:56

Website online:


interesting: Miles Kennedy from Kimberly Diamond Company onBoard

[pork belly] 08/7/2006 10:46

just thought this was pretty useful:



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