Petra Diamonds Share Discussion Threads

[ukgeorge] 19/2/2019 16:14

Blackrock have a 10% stake and have been selling.

[upwego] 19/2/2019 15:56

Plenty buying and price going down pretty obvious there`s a big seller in the
back ground who`s shifting them of as the price continues to fall.

How many left to sell is the question?

[upwego] 19/2/2019 15:53

too risky damn right but make money the other way and short this no news soon
and companies burning cash like a trooper.

Will be in the teens my guess is before April

[ukgeorge] 19/2/2019 15:13

Oh yes 1st April. Good luck on this, it is to risky for me. Could be a great turn around.

[argylerich] 19/2/2019 15:06

They've appointed one George. Hence I'm less inclined to think that they'd do any fundraising before he takes up his post, also that with the extra weight of sales this H2, they'll get through until the autumn, then they may have to pull the trigger.
Can see the chances of a small rise before then especially if the only rns' they put out are for the diamond tenders. We'll soon see :-)

[ukgeorge] 19/2/2019 14:47

Really does not look good. I can't see any way out. The banks are going to be the proud owners of the mines.

Only potential positives could be the Tanzania government pulling their finger out VAT and returning the diamonds. The company should imo stop mining there until it is sorted. A sort of final roll of the dice.... Or take the country to international arbitration. Amazing how a UK company gets screwed and the UK government carries on giving the country millions in aid.

I wonder if they will find a new ceo before they close the doors.....

[argylerich] 18/2/2019 11:48

Lol, at least with 4 tenders this H2 they'll survive for now to give the new CEO time to kitchen sink everything at his first full year results.

[ukgeorge] 18/2/2019 11:27

They just gave a mine away....



Live scenes from Petra London office

[resourceful] 18/2/2019 11:08

tried to analyse the figures
masterly attempt to confuse and mislead
certainly not generating enough free cash flow after capex to repay debt
a 1% inc in diamond prices will not offset inflation
though the fall in the rand must help
they cant raise more debt
more equity will dilute investors to nothing
so sell a mine
two old mines not worth 500m
finsch an easier sell

[argylerich] 18/2/2019 08:06

yup, February diamond prices look a little more encouraging so dipped a toe in the water again.

[p winky] 18/2/2019 06:31

News out today?

[upwego] 15/2/2019 13:49

okay 0p george lets short to zero and wait for the bailiffs good call

[ukgeorge] 15/2/2019 13:44

Does look like it is the end. Why 10p? it is 0p

[upwego] 15/2/2019 13:32

Just like I said fair value 10p

[upwego] 12/2/2019 10:18

The company just continues to fail and will continue.

We could see 20p in the next few weeks lots of selling people losing confidence
in the company and cash burn is going through the roof.

[argylerich] 11/2/2019 11:33

technowiz11 Feb '19 - 09:33 - 2988 of 2988
0 0 0
earnings out next monday 18th feb?

Yup. Good news looks doubtful although they may have completed the February tender by then which would include the Pink diamonds.

Initial reports of the Chinese New Year sales look lacklustre so can't see a dramatic rise in the wholesale prices yet either.

[technowiz] 11/2/2019 09:33

earnings out next monday 18th feb?

[ukgeorge] 11/2/2019 09:26

Probably time to be buying.

[upwego] 11/2/2019 02:37

think this could be under 10p this year

[argylerich] 08/2/2019 12:08

replace the word 'sale' with 'giveaway'! ;-)

[ukgeorge] 08/2/2019 11:58

That is the problem another fund raise and at what price 20p? They need to raise 100's of millions. which will mean massive dilution. I wonder what Cullinan or Finsch would be worth? could sell one to clear a big chunk of debt.

The sale of the other mine stank, think it was $20M and capex over the last 3 yrs was about $60M. Some one got a good deal and I don't think it was petra.

[argylerich] 08/2/2019 11:53

Yeah, saw the Barrick stuff, which gives more hope. I think that the situation will resolve itself simply with a higher 'tax rate', which is effectively what we have now in the withholding of the VAT receivables.

We could even see another fund raise this summer the way things are going. Let's just hope the GoT doesn't take a fancy to the two pink diamonds!!

[argylerich] 08/2/2019 11:36

Don't think it's that bad, just don't think it's that good either ;-)

I'll be looking out for the chatter about the Chinese new year and Valentines sales to see if the smaller stone market picks up, then at least they should get a boost from the 2nd half weighted sales too.

The eternal issue with the GoT is a massive elephant in the room though.

Definitely sitting on my hands for now as I can see no short term news coming to change the share price direction.

[ukgeorge] 08/2/2019 11:21

Looks like petra is going bust. What a complete f uck up