We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
No, point of asking as they are not willing to answer your question. Has been asking this sort of question for transparency (cash position, diamond production per month, sold and stock at hand) in the past conference call.
They would rather be interested in talking about futuristic planning and projection which will either be proven difficult to achieve or will be delayed by continuous excuses.
Unless massive increase in sales and continuous finding of big stone which is hard to come, I am sure we will not even see the share price rising any soon and my average is 72p. As being unable to continue averaging down, I have started to sell slowly whenever there is little bounce so as not to suffer massive losses.
I can understand some of the concerns that you raised but you also need to put in perspective that BRD will soon operate a mine that gives 15-18m$ (350-400$*45000 carats) in annual revenues and gives an operating profit of possible as high as 6-9m$ (130-200$*45000). The expansion project was need to improve the scale and profitability. The resource upgrade to 10mt, 10-year mine life was also done. This upgrade does of course cost money, and as long as production was not large enough it did not provide cash flow to support the growth. Once the final stage of the mine is reached it will generate free cash flow. I am sceptical to how the Management have done the project planning of this and it would probably have been better to make a large funding with equity and bank loan at an earlier stage rather than this placing every six month. I bought after the last placing at around 40P, so share price back to my price paid now almost. Still think this is a good investment to buy at this level.
Mil09, be sure to ask him on Monday.
https://www.investormeetcompany.com/bluerock-diamonds-plc/register-investor
Since Mike appointment in early Q2 2019, he has made funds raise of well over $5.6m to-date through placing.
Under his leadership, BRD has generated revenue of around $9.9m (not including 2021) and excluding recent placing of $1.5m, the money already spent should be $14m in less than two years time.
BRD still got CLN
I guess former director loan (35% int. rate) is still outstanding which was supposed to be fully paid from Feb 2020 placing
Half year report of 29 Sept. 2020 only said BRD has £2.1m cash. Q4 2020 production report shows , they sold diamonds in value near to $1.8m. Just adding these two amounts, it shows cash position of around £3.5m.
They said they have achieved $423 per carat for Jan and Feb 2021 tenders, then, I assume revenue for this two months alone should be well over £1m.
Where is this monies all gone making directors to raise further £1.5m? Also they did not mention the current cash position.
Absolutely gobsmacked by the inadequacy of the directors on every placing by doing on discounted price . They continuously barrage with depress old information on twitter. Instead, could have updated us with new crushing circuit on operation with few pictures. They could have also updated us of achieving average price of $423 per carat for the first two tenders. This could have definitely boosted the share price and didn't had to do placing at that desperate price of 40p.
Despite huge rising expenses, they are not ashamed of saying that plant installation company are willing to take 20% of project fees and performance related bonus in shares. There is no information on how much is the total project fees and why should BRD pay performance related bonus? Is fees not enough? And directors are saying it is showing confidence. This is like getting free shares despite getting fully paid.