Pangea Diamond Share Discussion Threads

[yawn1971] 13/10/2009 09:41

Nice 10% climb today ... news on the way?

[netstar2] 12/10/2009 10:03

any1 knows Anymore rns coming with pdf commercial production.

[netstar2] 09/10/2009 16:56

Yesterday's rns is very clear, 2.5million new shares issued to purchase the equipment plus cash payment of 200k, total is 265k, so the 2.5million share worth 65k, now you can work out the figures easily, instead of paying NMR $600k just paid $265k, it's very good news and all the heavy earth digging equipments are now in place for commercial production. I am just puzzled of the market negative reaction to such good news to the share price.
It works out at 1.63 pence per share, 2.5milliom*0.65million. A very good dealmconsidering the market condition. just hope recovery on track and diamond price up, and also anyone knowledgeable enough to update us the weather season in Africa especially Angola at this time of the year, I suppose it's not raining season again as one just past.

[yawn1971] 08/10/2009 18:42

RNS out. Positive move by management to help push production at Cassanguidi to full tilt.
RNS Number : 4909A
Pangea DiamondFields PLC
08 October 2009

Pangea DiamondFields plc

("PDF" or "the Company")

Update on Purchase of Equipment at Cassanguidi


Pangea Diamondfields plc (AIM: PDF), the mid-tier diamond producer and exploration company provides the following update on its previously announced transaction to purchase mining and processing equipment for use at its Cassanguidi project in Angola from New Millennium Resources ("NMR"). The Company's portfolio consists of seven projects located in the Central African Republic ("CAR"), Democratic Republic of the Congo ("DRC"),
Angola and South Africa.


On 10 August 2009, PDF reported that it had concluded a transaction to acquire certain mining equipment and processing assets from NMR, for use at its Cassanguidi project in Angola, for total cash and share consideration of $600,000. As reported in the interim financial statements on 29 September 2009, the essential equipment has now been relocated to Cassanguidi and is already in use, whilst the purchase and relocation of equipment now considered unnecessary, has been terminated.


PDF has successfully concluded a renegotiated agreement with NMR reflecting only the value of equipment purchased. Under this agreement, PDF has paid the sum of US$200,000 to NMR and has issued 2,500,000 new PDF ordinary shares ('Shares') to NMR as full and final settlement of consideration for the purchase. This cash and shares payment represents total consideration of approximately US$265,000 (at current prevailing exchange rates and share price). This is significantly less than the estimated cost of the equipment if it was purchased in South Africa and also delivers efficiencies in terms of lower transportation costs.


Application for the admission of 2,500,000 Shares to trading on the AIM Market of the London Stock Exchange ('Admission') has been made and Admission is expected to occur at 8.00 a.m. on 9 October 2009. Following Admission the Company will have 1,783,826,082 Shares in issue.


Commenting on this development, Chief Executive Brett Thompson stated, "The key challenges at Cassanguidi were specifically the earthmoving fleet. The specific equipment finally acquired from NMR has resolved this issue without expending additional capital on the purchase of unnecessary assets. This acquisition will underpin continued progress at Cassanguidi as well as demonstrating once again, the ability of PDF to identify and unlock value opportunities in the regions in which it operates."


Further information:


Pangea DiamondFields plc
Ambrian Partners Limited
Walbrook PR Ltd

Brett Thompson
Richard Brown / Richard Greenfield
Louise Goodeve / Leah Kramer

T: [phone]
T: [phone]
T: [phone]

[netstar2] 04/10/2009 22:53

It's quite interesting to see where pdf is exactly a year ago, just read the following old piece of news:
latest share price 1.45p as at 2 october 2009. the Company had cash reserves of US$3.3 million and not the US$3.1 million previously reported due to a minor payment timing issue. In addition the Company had diamond stock of approximately 3,382 carats including sampling carats and valued at approximately US$0.5 million, based on current estimated prices. This balance had reduced to US$1.54 million by 21 September 2009, primarily due to the capital cost of additional equipment for Cassanguidi as well as the delayed ramp up of the project. As at 21 September 2009 the Company had unsold stock of diamonds in hand valued at approximately US$0.3 million.

sp 15p. "As at 24 October 2008, the company had cash resources of about $230,000 and unsold stock of diamonds in hand worth $0.8m. "

Date: Friday 31 Oct 2008

LONDON (ShareCast) - Pangea DiamondFields continued its terrible run on news it plans to raise up to $15m and has been granted a $32m short term loan facility by Pangea Exploration (Panex).

Bosses say the loan will provide them with sufficient working capital to maintain its current activities for two to three months with careful cash and operational management.

There may also be an equity fundraising of up to $15m, which Pangea said would likely be priced to reflect the firm's current financial circumstances.

As at 24 October, the company had cash resources of about $230,000 and unsold stock of diamonds in hand worth $0.8m.

[netstar2] 02/10/2009 22:21

some other guy's post, i just copy here, hope it will help to clear some of the cloud:
had a good long discussions with B Thompson today, I thought i should pass it on to the people who were brave enough not to jump out of PDF ship.

He himself was surprise with the fall in the shareprice after the interim accounts, and when i asked him that why did he have to put the note relating to the going concern. He laughed and said that it wasnt him. The auditors insisted on putting that note. BT actually fought but lost against the auditors.

I also asked him about the cashburn and his reply was that alot money went towards the purchas of equipment and operating expenses, but he is not worried about it.

With regards to the rainy season at CASSA, his reply was that, this year circumstances have changed alot, the main problem due to rain is the oil delivery, but due to the new equipments they have suffient oil and he also mentioned that the road conditions have improved alot as chainese have been working there.

I also asked him if there were plans in the pipeline to raise more money from shareholders pocket, BT's reply was that if they need money it will be for the shortterm for which he has few options and the main one he will consider is to remortgage the farm they have bought and he cant see any problem raising money against that.

When i said to him, that i hold 600,000 shares @ 2.13 average, he laughed and said that my average is 60pence.

In my opinion this share is deffinetly a hold and infact a deffinate buy at this price. But its just my opinion.

[edward hopper] 01/10/2009 18:40

amanpulo you have blood on your hands and you seem to have left a trsil for the police to follow after the enquiry,
you cant edit them all.

tick tock tick tock times run out ,i am going to be giving evidence

larrys wife is atill in shock,

i hope you are happy about that

[edward hopper] 01/10/2009 14:34

EOR are you still there

[alex_raga] 30/9/2009 23:00

can anyone tell me how this share price moves. what factors ect...

[alex_raga] 30/9/2009 22:57

why are all the projects all on hold.

[jkg2cac] 29/9/2009 10:21

The half year report wasn't exactly pleasant reading, a few potentially positive points but today's share price seems to reflect the general consensus of the report!

[n0rbie] 29/9/2009 07:13

Half year report

[jkg2cac] 25/9/2009 09:29

Nice post yawn1971

[yawn1971] 24/9/2009 20:28

Many of you would have already seen the article but i'll post it anyway.



Glad to be in here long term.

[george57] 23/9/2009 13:07

Seems everything around the 2.17 mark is defenitely a buy and 2.1p are obviuosely sells.I wonder why MMs have raised the buy price to 2.35p?

[jkg2cac] 23/9/2009 11:11

Correction - I think that all the 2.17+ sell orders this morning were buy orders

[jkg2cac] 23/9/2009 11:08

Yes I think that's the mid-point that the various systems are using to determine whether it's a sell or buy. Hence the reason I think that all the 2.18 sell orders this morning were actually buy orders.

[george57] 23/9/2009 10:33

It seems to me JK that anything 2.17p or bigger is a buy.

[jkg2cac] 23/9/2009 10:25

I have also taken a punt so we'll see what happens.

For reference, noticed various trades going through this morning and I think that although these were displaying as sells, they're actually buys!

[longfish] 22/9/2009 18:42

Took a punt last week with this, i simply liked the look of it, diamonds are forever eh...

[jkg2cac] 22/9/2009 16:57

Cheers guys - much appreciated!

[netstar2] 22/9/2009 16:52

sounds strange but these days care less about real diamonds, this stock itself is a diamonds waiting to be found by the IIs and PIs. From the latest positive reserves figure, this share price should fly now.

RNS Number : 0687Z
Pangea DiamondFields PLC
15 September 2009

Pangea DiamondFields plc

('Pangea' or the 'Company')

Bakerville Diamond Sale and Resource Update

Pangea DiamondFields plc (AIM: PDF), the diamond producer and exploration company, announces the third successful sale by tender of diamonds from its Bakerville Project ('Bakerville' or 'the Project'), which is situated within the Lichtenburg Diamond Fields approximately 250km west of Johannesburg, South Africa.

The sale yielded an average price of US$238 per carat from a run of mine parcel of 796 carats. To date, over 2,000 carats in total have been sold by tender from Bakerville at a weighted average price of US$366 per carat. This sale is significant as the cumulative carats recovered and sold now exceed the minimum parcel size required in order to determine an average valuation for resource purposes in the Indicated category.

In the Company's most recently published resource statement for Bakerville, dated 31 December 2008 and released to the market on 28 January 2009, an Inferred Resource of 3.59 million m3 and 122,500 carats was declared at an average recovered grade of 3.42 ct/100m3. As a result of additional sampling work since this resource estimate as well as the cumulative sale of the requisite parcel of diamonds for valuation purposes, the resource statement has now been updated and the results reflected in the table below. Project resource carats have increased dramatically by 370% to 455,000 carats at a similar recovered grade of 3.42 ct/100m3. Furthermore, following the most recent sale, confidence in the quality of the resource has increased with the inclusion of 2.50 million m3 and 85,600 carats of Indicated resources in the overall resource.

The new Bakerville resource estimated in compliance with the SAMREC Code, is as follows:

Project Area
Resource Classi-fication
Gravel Volume
Grade (ct/100m3)
Carats
Diamond Value
Bottom Screen Size (mm)
PDF's Attributable Interest
PDF's Attributable Carats

(m3)
(US$/ct)

Indicated
2,502,400
3.42
85,582
366
1.6
74%1
63,331

Patsema
Inferred
10,795,000
3.42
369,189
366
1.6
74%1
273,200
Total
13,297,400
3.42
454,771
366
1.6
74%1
336,531
1 Assumes the exercise of the PanEx option under which the Company is entitled to acquire an additional 26% interest in all of PDF's South African projects, prior to 30 June 2010 at a cost of US$2.5 million.

Venmyn Rand (Pty) Ltd, the independent qualified person has reviewed and verified the resource estimate and a copy of their report is available on the PDF website;

A feasibility study of the Project has now been successfully completed in-house with positive results. The Project scope at full production reflects a nominal capacity of 90,000 cubic metres of in situ gravel mined and processed per month, producing around 2,250 carats per month at a cost of approximately US$4.50 per cubic metre or approximately US$180 per carat at the envisaged nominal capacity.

The Mining Right application to allow full scale exploitation of the deposit has been completed and submitted to the relevant governmental authority in South Africa.

At this time, it is not possible to determine when the Mining Right will be approved and consequently, when commercial scale mining may commence, however PDF will undertake all preparatory work to ensure that upon approval, the transition to commercial scale operations is not unduly delayed.

In keeping with the Company's strategy of reducing unnecessary expenditure, operations at Bakerville will be put on "care and maintenance" with immediate effect until such time as the Mining Right application has been approved and the Company is in a position to develop a commercial scale operation at Bakerville. Exploration will however continue, targeted to delineate additional resource potential outside the current resource area and all remaining carats will be sold in due course. Management is confident that the resource will continue to grow given that we have to date only explored approximately 25 - 30 % of the area within PDF's permit areas identified as being gravel bearing.

Chief Executive Brett Thompson commented, "The results from the Bakerville project continue to encourage management and this latest update to the resource sees the economics of the Project improve further. Whilst we do not wish to slow the momentum at Bakerville, it is a statutory requirement that we await the relevant authorisation before scaling the project up to its full potential. We remain in a strong position with the Bakerville project ready for development, an improved resource and the relatively low inherent operating risk present in South Africa."

Further information:

[george57] 22/9/2009 16:51

JKG2CAC,suggest you check out the iii board,there is a very informed guy on there called Amanpulo.Check out his posts from the last 2/3 weeks it will tell you everything you need to know.

[jkg2cac] 22/9/2009 16:45

I'm not fully aware of this stoc but are they just awaiting licenses before they can step up operations? Any background would be appreciated as I'm tempted to take a small punt on this!

[kajshares] 18/9/2009 12:58

This co rose 30% on volume of 10m two daysbefore reports, It has retraced 40% on sells of less than 1,45m if sales/buys are averaged.

Does not make sense. It explains why there is no interest with confidence