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Thanks for the update JulianM
Fingers crossed that James and the team can work their magic in regards to navigating the ‘system’ and get the water licence sorted asap.
Holding tight here.
Very disappointing to see a 0.8p bid and a 0.9p asking price as I type, after what appears to have been significant progress in the company’s field operations. Frustrated sellers? I can sympathise as I head towards 2 (or is it 3) years invested - I honestly can’t remember, and the SP is a whisker away from my buy-in.
But I’ve absolutely no inclination to sell and will remain positive that the share price will see a decent uplift. Gla
I emailed him to ask if he can give us any indication of the value of the diamonds recovered, as referred to in the RNS. He said that they will be worth in excess of the value estimated in the CPR for Thorny River which was 120-220 per carat, which is of course a little vague but gives us some idea.
I also asked why the licence is taking longer than anticipated to be issued and he said that it is the associated water use licence which is taking time ,rather than the mining licence itself.
Update pics etc on twitter
Surprising the sp has not responded by moving higher as a decent quantity of diamonds has been uncovered totaling 1481 Carats including between 3 and 5 special high value stones and a huge 24.3 carat poor quality diamond.
No mention of the prices achieved or how they are sold and where they have been sold.
From the RNS:-Thorny River is currently anticipated to go into production during the course of H2 2023.
Chairman, John Teeling, commented: "Mining on Marsfontein is a proof of concept, which is working well. Despite a slow start with equipment and weather issues
the project is delivering better than expected grades and diamond values.
This augurs well for our adjacent Thorny River development which is expected to commence in the latter half of 2023".
So it is a further waiting game for even better news to wake up the sp.
So do I my friend! So do I :)
I hope you are right.
Hi TR
Nothing about any other projects so I don’t get to same conclusion re Ghagoo.
There will no doubt be a more comprehensive update on all projects at some point.
Assume ghagoo isn't going to happen, that's what I get from that. Pity.
However it's all about Thorny River now.
Spot on Echo.
High level RNS in response to break the radio silence. It’s certainly not bad news. Just means we have to continue to wait it out.
I think JC and the team are sensing some investor frustration so at least they’ve provided an update. But yes - some sales figures would’ve been a good addition.
Keep the faith clockman :-)
I agree Echo..definitely a step in the right direction, and it looks like there actually might be some hidden gems, ie special high value I think is the hint.
Not the news I was hoping for but certainly a step in the right direction :-)
Proof of concept achieved for Thorny River and 1481 carats recovered thus far
Onwards and upwards 👍🏻
Update at last. Good update should be a good 2023 here
Disappointing RNS. The absolute barest information and nothing on sales prices realised let alone anything on other project updates. Was hoping for much more information after such a long period of silence .
Hopefully August for news on all projects thorny river ghagoo and mabwie fingers crossed 🤞 still waiting
My calendar says 31 July.
If the BB information is correct news due within a short time period?
What news will do for the sp remains to be seen.
Makes sense JS.
The move over to TR would start livening things up. Who know what they might find …
We have been mining now for around 4 1/2 months. They seem to have expanded the initial operation so what can we expect?
My lowball figure would be $ 1.25 million based on 500 tons per day with a 30ctht and $100ct. I am presuming 20 days per month and 4 months. This would be $180K to BOD @ 15%.
The high ball would be $2.5 Million based on the same tonnage processed but 40ctht and $150 ct.
BOD's cut would be $360K or about what we need to pay wages for a year. So negating any need for placing.
Although I can’t prove my credibility I do talk to James directly.
His engagement with myself and other investors is excellent despite the lack of RNS’
He indicated that they ‘planned’ to release an announcement this month.
So based on that only 1 more trading day.
David Horgan is definitely involved and his lack of diamond experience leads me think he’s dealing with the legal and finance aspects. He is after all a qualified lawyer and a director of BOD.
I think I agree with both JS and thorny.
But How the next announcement is interpreted will be down to investors and the market.
All JAHC can do is do his job and try to grow the company. He can’t control the SP.
And just to back up what JS capper said - as well as production figures from Mars and the Thorny River mining permit James Campbell and David Horgan are working on something bigger
We know this because some of us have askedJames directly and he confirmed it.
But of course non of us know what
I hope you’re right and that your sources are impeccable. Any insight as to announcement timing?
That's what we hope. It takes time but thank you for the update.
Why news blackout? Maybe you have answered your own question. James has been away from the field for a week. Why? He has been completing paperwork ready for an announcement. Not just Marsfontain figures. Not just granting of TR permit but also 1 other piece of news. Now we can all speculate on what that is but to be sure taking this time and the fact that DH is also working on it means it is not just a change in the time they feed the company cat.