West African Share Discussion Threads

[trint76] 27/10/2009 13:29

Appreciate the feedback guys :)

[leapinn] 27/10/2009 13:07

News may not be immediate as they seem to have been taken by surprise by the press leak. Should help speed them up though now that the news is out.

[leapinn] 27/10/2009 13:06

Efectively Stellar is taking over WAD to get the AIM listing to support its growth/funding. Stellar is three times bigger than WAD.

[trint76] 27/10/2009 12:59

lol...this is why I'm confused :S

Oh well we'll be hearing news soon hopefully.

[trint76] 27/10/2009 12:58

Ahhh but its not the same RNS, the one I posted is from AAAM this morning. The wording in this announcement appears to be that Stellar will be taking over WAD.

[arf dysg] 27/10/2009 12:57

Actually, trint76, let me modify that comment. There are two announcements:
1) WAD's announcement of 26/10/2009 which I refer to above;
2) AAAM's announcement of 27/10/2009 (very similar but not identical) which you quote.

They essentially say the same thing.

The AAAM announcement is available via ADVFN's page on AAAM, i.e.

[arf dysg] 27/10/2009 12:52

trint76, you can get the very same announcement right here on ADVFN:



Both this thread and the RNS announcements are visible from the page which gives the WAD price graphs, here:

[trint76] 27/10/2009 12:13

Going by this news it would seem Stellar are taking over WAD..or am I missing something.




edit: "if successful will constitute a reverse takeover of WAD by Stellar"

[arf dysg] 27/10/2009 10:42

Why is there a graph of the gold price in the header of this thread?

[arf dysg] 27/10/2009 10:41

FOT, yes the article quoted didn't say "WAD", it actually said "WAD's sister company African Diamonds" [is near a deal to buy out de Beers' interest in AK6]

Someone then mis-read it and thought that WAD wanted to buy out de Beers' interest.

[unionhall] 27/10/2009 10:00

FOT - they were talking about AFD in that part of the article....

[jungle jim] 27/10/2009 09:50

Thnaks for the responses to my question guys.

FOT yes I saw that too but it is not there now. There was a link to some article but I don't rememember where it was.

And the winner of the 'Mystic Meg' prize for fortune telling goes to...

leapinn - 23 Oct'09 - 17:30 - 2705 of 2763

It would be a perfect reverse takeover vehicle for a company looking for an Aim listing. Certainly not worth John Teeling's time.

[father o toole] 27/10/2009 08:55

Did someone say yesterday that the new enlarged company could buy out debeers from ak6?

[peterz] 26/10/2009 21:46

FOT 1% of WAD, wow. The beers on you. Good luck

[bageo] 26/10/2009 21:41

FOT I can't see a big premium being paid. But put the cash Stellar have with the sets of assets and there is great potential. Hopefully the DRC will be dropped if it has already.

[father o toole] 26/10/2009 21:28

hi ein, that would be very welcome indeed.

[father o toole] 26/10/2009 20:39

peter, the deal has to be sold to the wad shareholders and as a holder of over 1% i`ll be looking for more than a few pence.

[chrisis33] 26/10/2009 20:35

Jungle Jim - not an expert, but a sale of stellar would seem good news for AAAM. WAD will come down to how this is being financed.

[peterz] 26/10/2009 20:27

FOT. Are we going to see a few pence on the suspended SP??

[leapinn] 26/10/2009 17:52

In reality it is stellar taking over WAD to get the AIM Listing imho. Stellar is much bigger and has more potential than WAD.


Jungle Jim - good news on both fronts.

[moosh2] 26/10/2009 17:40

isn't there going to be major share issue to buy stellar?

[father o toole] 26/10/2009 17:29

what price lads???

[waleriuszwatrobka] 26/10/2009 16:56

"West African Diamonds in reverse takeover of African Aura's Stellar Diamonds

West African Diamonds PLC (AIM: WAD) confirmed in reaction to press speculation that it has signed heads of terms to acquire Stellar Diamonds Ltd, a privately held West African diamond producer, constituting in a reverse takeover under AIM rules. Both boards plan to relist the combined venture on AIM."