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I find it hard to believe that anyone else than the Teichmann Group will buy the rump and take it private. I’m simply waiting for that announcement so that the shares I have can to be of “negligible value” and I can set my loss against tax.
spot on. I saw this coming months ago and got out at about 20p.
Teichmann will take this private. I was invested here when they got involved and this situation has been managed to get to this very point. I mean, prior to the suspension, they diluted investors time and time again and now they’ve taken their toys away just as bigger diamonds are being found. You really couldn’t have scripted a more seedy set of circumstances.
…all only in my opinion, of course.
Sounds very much like it's all over here after the update a couple of days ago....
Suspended, 1430 today.
Teetering on the rim of the plug hole.
No
Is no news good news?
And I thought the Kareevlei mine was set in one of the wettest places on earth.
You couldn't make this stuff up! And I agree, I'm surprised there's been no suspension yet.
Even more so now! I cannot see how they are still trading.
AVOID. LIKELY TO BE SUSPENDED AT ANT MINUTE.
It's more a question of shooting the people who have been steering the horse!
There needs to be a proper investigation into how they have spent the money from all of the previous raisings and how this has been (mis-)managed, particularly the financial and technical side but also into how Teichmann have been allowed to take the majority shareholding in the way they have - even if their money has supported the operation.
They haven't even been able to keep the company documentation up to date properly (Aim Rule 26) on the website.
The way this has been run and managed is sadly another example of why the mining industry gets bad press in the financial markets.
My word. Never seen so many red flags. Horrific share price and Market Cap, massive debt repayments to pay, can't pay back a loan, winding up petitions. Probably no cash. How can they even pay the AIM listing fee let alone pay back debtors. Nominal value of 5p currently 2.5p bid, good luck raising money here. I assume it will be admin and Teichmann take the assets
When an RNS states: "BRD continues to explore all options to enable operations to continue and obligations to be met. Uncertainty exists, however, on the ability to implement the turnaround plan for BRD and Kareevlei given the statutory demand received from Mr Leslie." and Mr Leslie has "notified his intention to present a winding-up petition" I would have expected sells to have forced the price down much further.
Is there anything left?
TSA are owed 55million rand. (£2.7 million) at the moment the company has little spare cash to resume payments whilst it carries out expansion program and maintains itself as a going concern.
I cant see TSM putting much more finance in for the moment
So it will have to have a heavily discounted placing against todays close of 4.5p plus the longer it waits to raise the money the lower the sp.
Now on my watch list again .
Disruptor ,Did you visit the mine a few years ago, invested further, then get caught out by an unexpected placing as I did.
Year high over 64 year low under 5
Like many in this my shares are in the red
How this company will encourage investors will surprise me,
Last time I held shares in a stock with a high short term drop it ended in a perminent suspension ,
Good luck all
Jeez, I'm sorry to hear that. The management of this company and the project itself has been utterly awful and very far from what was expected.
I know that only too well - I’ve sunk over £200k into that hole since 2013. Pure hubris on my part.
This is literally a money pit.
No, did you miss this bit
Further to the announcement of 14 October 2022 in respect of its £462,500 Convertible Loan Note ("CLN"), which was due to be repaid on 16 October 2022, negotiations are continuing on a revised repayment arrangement, details of which will be announced once finalised.
2p placing or an even worse CLN
Overreaction?
I imagine going private must be on the cards soon
One rock does not make an autumn. Or spring.
Nice per carat number, shame the report had only one September stone of note.
FINALLY: BlueRock Diamonds PLC ('BlueRock' or the 'Company')
Board Changes
BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, announces that Mike Houston has stepped down from his Board position with immediate effect and it is anticipated that David Facey will step down from the Board later this week. Additionally, Victor Dingle has joined the Board as Chief Executive Officer ('CEO') and Rob Croll has become the new Non-executive Chairman with immediate effect.
Victor is an experienced executive having served as Chief Financial Officer ('CFO') of a number of public and private companies in sub-Saharan Africa. Victor is currently CEO and CFO of the Teichmann Group, a diverse group of companies with expertise in multi-disciplined construction services, mining, and agriculture and the Company's largest shareholder. Victor has previously served as CFO of MTO Forestry Proprietary Limited, Dangote Cement Limited and Lafarge Cement.
Rob, who joined the board in June 2021 as an Independent Non-executive Director, is an experienced mining engineer. Based in South Africa, he is has held various senior executive and consulting positions and gained significant exposure to the financial markets. He was previously the Lead Independent Non-Executive Director of Resource Generation Limited and brings with him a strong independent technical and commercial perspective to BlueRock's current operation at Kareevlei and future investments.
Rob Croll, Non-executive Chairman said, "This is an exciting new phase for the Company having endured several difficult years as a result of the Covid-19 pandemic and extreme weather conditions that delayed the commissioning of the new transformational 1Mtpa plant and the opening up of the Main Pit to optimise its economic depth potential. The high-level review completed in June/July this year has provided a clear but challenging path to optimising production, which in turn will enable us to take advantage of the robust diamond market dynamics. I look forward to updating shareholders of progress on these developments.
"I would like to thank Mike for his time and vision and wish him every success for the future. I look forward to working closely with our major shareholder, Teichmann, as well as our new CEO, Victor, as we focus on building value for stakeholders and shareholders alike."
https://www.igi.org/gemblog/sothebys-selling-historic-11-15-ct-williamson-pink-star/
Maybe one day we'll find a similar one.