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BlueRock Diamonds Share Chat (BRD)



Share Price: 0.11Bid: 0.10Ask: 0.12Change: 0.00 (0.00%)No Movement on Bluerock
Spread: 0.02Spread as %: 20.00%Open: 0.11High: 0.11Low: 0.11Yesterday’s Close: 0.11


Share Discussion for BlueRock Diamonds




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Previous Share Chat Page
2
Scottman72
Posts: 83
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
UT I think if there were any points to be made they've been detailed below.
Not sure why you feel the need to rub in the fact that there are quite a few people here that are unhappy about the recent events and the affect on their investments. This is not a thing to laugh and joke about.
 
uNkwnTrader
Posts: 1,654
Premium Chat Member
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
So the point is? What are you trying to say? You are unhappy in this investment and feel it is going nowhere? Convinced we owe 6m in debt? In which case is not many options left for you, seems a bit of a lost cause to hold for you now?
Scottman72
Posts: 83
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
BRD may control KVM but they are legally sesperate entities in all aspects whether it be taxation, regulation or liabilities. Less reputable companies use such subsidiaries to hide things they don't want to be generally known as they don't come under the same reporting requirements. It also means they can bankrupt KVM without affecting BRD.
jscapper
Posts: 1,465
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
KVM and BRD are the same.
Scottman72
Posts: 83
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
When dealing with company statements you should never assume anything.
If an official company statement says one thing, irrespective of what it looks like or what it might turn out to be, you have to take it as read until confirmed as being incorrect. BRD have made a statement that a loan from KVM to BRD needs repaying and currently stands at £6m.
uNkwnTrader
Posts: 1,654
Premium Chat Member
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
Well there is that.
jscapper
Posts: 1,465
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
The confused seem to be those who have jumped in here without doing any research on the company.

FWIW
we have today Buy 0.1199. Sell upto 5 Million Shares @ 0.113
uNkwnTrader
Posts: 1,654
Premium Chat Member
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
For those who don't understand that, I think they should RNS it, its confused people.
jscapper
Posts: 1,465
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
A little bit of Company History for new investors.

'This is mining right MR70/2007 for the Kareevlei Diamond Mine and covers all of Farm No. 113 and a NE portion of farm No. 142 with an area of 3088.9234 hectares. It commenced on August 21, 2007 for a period of 12 years ending August 20, 2019. It is 100% owned by Kareevlei Mining (Pty) Limited, which is a subsidiary of Bluerock Dimaonds after they acquired Dimaond Resources (Pty) Limited which was a subsidiary of Tawana Resources NL. '

Hence the reference in the latest RNS about renewing the licence. We do not have to stump up £6 Million. It is an unsecured loan for accounting purposes.and has to be relayed in this way to adhere to SA law so we can renew.
Scottman72
Posts: 83
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
Either way, it needs clarification and a reissue if this isn't correct.
MrJinx
Posts: 1,452
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
That's exactly how I read it also, we (BRD) owe £6m. If that's not the case then it's at least a slither of sunlight...
sicilian_kan
Posts: 569
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
It means payable to.
Scottman72
Posts: 83
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
Your probably right. But that's not what the current section states.
It clearly states that the £6m is a loan TO BRD not from.
jscapper
Posts: 1,465
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
Exactly s-k.
The two are the same entity. We owe £6Million to ourselves. It is a accounting issue as we apply to renew the licence to mine.
sicilian_kan
Posts: 569
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
You are mistaken. Look at the annual report. The loan is FROM Bluerock TO it’s subsidiary KMPL.

It merely funds the mining work that the subsidiary is doing.

This is a loan that the subsidiary pays BACK to Bluerock. See note 12 of the annual report:

“The intercompany balance is a loan to Kareevlei Mining Proprietary Limited that bears interest at the Nedbank Limited prime variable overdraft rate or unsecured loans to corporate customers and is repayable on demand. The carrying value of all trade and other receivables including the loan to group company is considered a reasonable approximation of fair value.”

The value owed TO Bluerock was £4.0m in 2016 and £5.6m in 2017.

The subsidiary must repay these monies TO Bluerock before it pays Bluerock dividends.
Scottman72
Posts: 83
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
Connie,
It was attempted to be hidden in the recent release.
It’s just before the “Guidance for 2019 and 2020” section within the section entitled “Mining Right and changes to the South African Mining Charter”.
It states “Given the structure of the shareholders' agreement from the Company to Kareevlei Mining Limited ("KVM"), which requires the loan to BlueRock, which currently stands at over GBP6 million, to be repaid before any dividends are declared in KVM, this is expected to have little or no economic impact to the Group.”
In combination with other commitments it means all profits are now committed for probably 4 years. So no dividends for at least 5 years.
connie
Posts: 121
Premium Chat Member
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
Hi Scotsman 72, where did you find reference to a £6m loan?
Scottman72
Posts: 83
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
All in all. The BoD of BRD have now shown their hand. They only care about their own gains and don’t give a **** about those that invested to help make BRD what it is today.
Scottman72
Posts: 83
Opinion:No Opinion
Price:0.12
RE: The signs were there...
20 May '19
I think we all await to hear about this £6m loan. If this has just happened this year then there should be £6m in cash for BRD to cover any further work that’s needed to be done. If it happened earlier than this then it should have been reported under AIM rules.
If it’s currently in their coffers then what’s the justification for the fundraiser. The only reason is to deliberately water down the current shareholders to ensure the BoD and their associates gain from any profits (guaranteed doubling of investment) as well as ensuring voting rites at the AGM so they can’t be ousted.
MrJinx
Posts: 1,452
Opinion:No Opinion
Price:0.115
RE: The signs were there...
20 May '19
If I averaged down, it's possible. However, all trust I ever had in this tin-pot calamity has been destroyed. As with many AIM shares, what looked like a winner quickly turns to shit, because of poss poor management decisions and pure greed and avarice by the BoD's. Can't see this going anywhere. When I did my research before investing, I read nothing about a £6m debt. Had I known that, I wouldn't have touched it with a stinky barge pole but that's my stupid fault.
uNkwnTrader
Posts: 1,654
Premium Chat Member
Opinion:No Opinion
Price:0.115
RE: The signs were there...
19 May '19
But most importantly do you believe you will get your cash back?
MrJinx
Posts: 1,452
Opinion:No Opinion
Price:0.115
The signs were there...
19 May '19
This from October '...on 8 October 2018 and included in the notice of meeting will proceed with the nominal value of the Company's ordinary shares in issue reducing from 1 pence to 0.01 pence whilst retaining the same number of shares...'
I'm calming down slowly but next time, I should trust my instinct. Millions being sold in small parcels at an obvious huge loss at the time, MM's walking the sp lower with no justification, previous fund raising for repetitive reasons, a pump before the last raise based on an unexplainable 16 carat and two 8 carat diamonds in what was essentially detritus, the CFO getting another job...it was all there!!!
Previous Share Chat Page
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