Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Nearly a month since bad news and not a word on financing. Working capital could be in a dire position and after DDDD's collapse I am wondering if it's lights out here or a very heavily discounted placement. Management have a lot to answer for.
Must be raining in South Africa for sure.
Only way is down
That's me out. The company has put themselves in a very weak negotiating position for finance and I don't intend to stay for the outcome. Poor management
Runing low on finance so many red flags never fails disappoint, full of bad history this company AVOID.
"pick it up for a song"......yes that would be my guess, as has happened to other AIM stocks I've held in the past, either that or they failed, by design or otherwise.
When I read the paragraph below, it makes me think that Convertible Loans are going to be used. And if you do not know why they use the term 'death spiral' for that type of financing you may benefit from doing some research.
'As a result of fewer diamonds being produced and sold as well as increasing costs, BlueRock's cash resources have been depleted during what continues to be a period of heavy investment in mining development. The Company has therefore entered into discussions with a major shareholder and providers of debt finance to support it through this period; further announcements will be made in due course.'
#ouch
Who in their right mind would lend a penny to this shambles of s**t? The sad thing is that we know that the quality of the stones is superb and that there are plenty of them. What we also know is that the management of the mine is shocking or nonexistent. When the company goes pop somebody is going to pick it up for a song. Once again the long suffering shareholders are the only people to get screwed.
April RNS “As mentioned in our announcement dated 31 March 2022, we are concentrating on mine development to ensure a consistent supply of ore, which requires a significant increase in waste mining in the short and medium term”
Makes me wonder how much short term costs or debt they are amassing to “ensure” consistent ore supply. Complete and absolute FAIL
" "
Yesterdays TR1 missed by the markets add to that the potential loss of Russian diamonds to western markets and i believe there is value here
You'd think that might stir some positive debate on the forums but nothing. Clearly they bought it in the placing at 35p and it's now 29p to buy so it's nice for others to know they can pay way less than the big boys to get a slice of the action. Took a long time to declare it though.
Alrosa, Russia’s state-controlled firm which is under American sanctions, is a big producer of tiny diamonds known as melee, which surround a big stone on a ring. “That will ultimately be a potential challenge for retailers who use a lot of melee,” Cleaver said. “Jewellery designers are very innovative and very good at working with what they’ve got.”
With all the good news about Bluerock on Twitter why is our SP in free fall? Time for a change in the boardroom I think, especially the FD.
I was half expecting to see 2 of them or a rollover to explain it but it looks like on Friday somebody picked up around £100k's worth, perhaps a mm was happy to sell their last bit of placing stock for break even.
Surely that means that Teichmann didn’t follow their money in the last placing. This is from the BRD home page: Change in voting rights is due to dilution as a result of a new share issue announced on 31 March 2022.
Previous voting rights were 3,641,271 equating to 25.79%.
Did you miss the late RNS Teichmann now 16.72% of the company. Surely that's a positive ?
When they (Teichmann and Binvic) clearly knows that another placing is coming and the share price will plummet down to 35p. It is obvious for them to not take action on CLN and even the share price did not remain above 60p for longer to take action. If shortage of supply has not supported its current share price, it may have gone down further to 20's p.
Those useless (directors) had every advantageous momentum on their side to minimize dilution if they had reported Q1 production result before conducting share placing. That Q1 rns would had further boosted the share price and we could have easily see the share price rising above 80p where even they doing a placing at around 60p to 70p, market would have supported it. They **** it up and has been doing for long time.
It looks as though according to today’s RNS that Teichmann hasn’t actioned their CLNs. Neither has BinVic apparently.
I am not too bothered where the SP goes in the short term
Bring on the H1 results and hopefully show a nice profit - that is when/where the real move, if it is to be, will happen
We can review monthly so not like anything will be too unexpected
Very happy to be holding ~35p average here and will add more if it goes below 30p (someone sold at 30.8p so you never know, although the MM's let it go for 33p so good luck...)
One has to wonder what the hell is going on: the Q1 production update was good, so why the fall in the SP. Maybe because current production is not meeting targets or perhaps a falling out between Teichmann and the BRD board after the last fund raise which diluted Teichmann’s shareholding or perhaps talking down the SP results in a lowball offer for the company. Take your pick.
And pay the consultancy fees of £579,000 to BinVic!
Directors couldn't care less how many diamonds they find as long as there's money to pay their wages!
So 8 days later and the content of the BRD has still not been amended. If the management cannot get this right what hope is there that they can get anything right. I now am convinced that the present board is out of their depth and needs to be replaced by full-time committed professional board. The sooner the better.