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For the third time today. All the detail re the vutomi deal is in the RNS of 06/02/17. How hard can it be. Shame you sold your holding down. Very costly mistake IMO. Why do I get the feeling we are playing a tag wrestling match. LoL
Kintore My understanding of the present drilling campaign was to drill 6 holes 200 meters away from River Pipe. As they did this it became obvious that the kimberlite found was open towards River pipe. I believe initially they were looking at a separate anomaly maybe connected with a dyke. However it looks as though the two may be one. That was the reason behind an on the hoof decision to drill as near to the river pipe as the ground work would allow. The 100 meters between the last drill and river pipe needs some ground work before drills are put in the area. I think a call for the bulldozer is needed again. This is what I read from the situation but I am no geologist.
Please do not let this thread degrade too much as I just hoped someone might have come across info I had not, perhaps the answer to my question is not available? so I will try to ask another way.
There is a lot of twitter information and a few RNS with inferences that this is a new Marsfontein but there is little detail in the public domain. Vutomi have all the leases in the area and 4 other possible blows are of interest, so who gains by giving hope without more detail?
The drone image on Twitter what is it? videos of visits to Marsfontein but no explanation to similarities in the Kimberlite types just a RNS stating in this region 61cpht would be expected, Marsfontein was 150cpht after the initial eroded/high yielding zone concentration was mined . No drone image of the surface obstruction etc that has resulted in the inability to drill between the two sites, knowing this type of information does not really have any commercial impact as I can see. (Vutomi have all the leases in the area)
To be honest I have sold down my holding to 10% of the original and if I can get some answers I will rebuild it back up. Although blind faith can be expensive I also hope over caution will not be.
The details are in the RNS dated 6/2/2017. By all means ring JC but he will tell you nothing more. When exactly did you dip your toe in the water here? Wasn’t early last week by any chance was it. Your biggest mouth comment will not go down well here and is completely incorrect. These sort of flair up are normally down to posters similar traits and so I am happy to start again. Hi my name is Mike. I am one of the more knowledgable shareholders on this board, although not that LT. Have traded it in the past but am back now for investment purposes.
Botswana Diamonds was introduced to Vutomi by James Campbell, the Company's recently appointed Managing Director. James Campbell is a minority shareholder of Vutomi and is therefore precluded from voting on any matter relating to the Agreement.
Please don't be condescending. I'am a holder and have already checked out the other projects. Kintore's question is a genuine one. There is plenty of gossip about the right to a 72% holding, however can you provide the evidence. The relationship between BOD and Vutomi feels opaque which I would like to feel a little more comfortable with, before buying further.
BOD have the right to buy Vutomi out for a nominal sum (c 0.5m) and go up to 72% which the max inderl SA mining law. I am surprised you guys don’t want to know more about BOD’s other activities which potentially dwarf Thorny River. All available in the Feb 2021 corporate presentation on their website.
Kintore. Great question, which I have also been pondering over. I would also welcome hearing from any seasoned BOD veterans on that subject as imo it is not a clear as it could be. It's the one piece of info that I would like to be clear before making a decent commitment here.
Do any of the more positive followers of BOD have any information on the current financial state of Vutomi. Currently BOD have an agreement with Vutomi for 42% of the company but I am wondering if the share price has remained low because of a lack transparency perhaps (I cann’t find the info tho). The first link below comments on an example of royalties etc and the bottom document link gives the breakdown of Vutomi subsidiaries. Does anyone know how much BOD will own if this find is commercial taking royalties etc into account.
‘junior company Subterrane has teamed up with Botswana Diamonds as a larger corporation to find potentially lucrative kimberlite pipes …. Andrew Long retells that that they got in touch through social media after he offered the managing director of Botswana diamonds James Campbell a value proposition. The two companies are currently working on a direct fee basis, with associated royalties based on the diamond production from the hopefully successful project.
It may well be but my valuation of many multiples of current value and observation that bulk sampling, which is highly likely to yield some good stones, will be starting sooner than the market thinks are two more reliable reasons!! Had a small top up myself this am also.
How true Beetroot The KX35 pipe in Botswana is a biggie at 6.3m carats. It’s all a bit hush hush until legal matters get sorted which is rumoured to be soon. This company has some first class prospects not least Thorny River. Anybody can check the history of the Marsfontein mine to get an idea of the very large stones embedded in the kimberlite. The geology is identical and so big stones only add to the values
Assuming Thorny River yields 2m carats at $200 a carat and mining costs are 15% (It’s open pit) then the sterling value of a 72% interest after further dilution of 20% equates to £141m v’s a market cap of only £10m on a good day. For where we are, 3 years in on the TR discovery the market cap is ridiculous. According to JC bulk sampling will be starting soon.Don’t forget they will have to press on as it is dry season and there is no reason why they cannot go ahead with bulk sampling on the river pipe while they await sorting/ sifting results in 6 weeks or so. For those who have been here a short while only we were given a good heads up and the day of the results a short trip to the historic Marsfontein mine was posted on Twitter. We have a pretty good idea what we have already and bulk sampling will pull in some decent stones. Geology identical to Marsfontein Mine which had a 3 day payback! Take the hint and this is an abosolute