Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
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USD1.1 million from the suction, with the spotty 58.6 getting 580,000 just on its own.
Today's RNS also shows prices recovering - our 14 carat stone got 286k, precisely 100k more than a 14 carat in January...... Unless of course I'm not taking into account the quality classification?
$2M revenue for 1 month, new plant to come on board and a Mcap of peanuts. Soon this will explode.
Maybe not but who knows? Very few shares available and income in danger of exceeding Mkt. Cap. - DYOR!
Tapper, I'm thinking October might be the time this heads back to the £1 area, doubling of production should do wonders for margin expansion..
If mining in the higher grade continues, those bigger stones are always a nice bonus, just a little more time
Yeah I see it now. That's almost 10% of the company. Expect to see a notification in the next day or so which will be very interesting. Must have been a buy judging by prices at the time and subsequent rise since
Trade back again !!!
Trade of around 583,000 shares at 52.5p yesterday at 11.50am popped up on screen, then disappeared !
Positive interview today with views on why SP not moving up. Access through BRD twitter
Agree that the SP should be way over £1 given the resources held and the potential gain from the tender by the end of this month. Despite the delay to the plant commissioning, the resources alone value BRD at way over its current value. The market surely has to wake up soon? It's snoozing right now!
Excellent!, nice to see tangible progress being made on the new plant.
Wouldn't think that would take too long Nisumo, precursor to testing it all fully loaded. October looks like the month production doubles so hopefully all goes smoothly
Wonder how long this process will take?
BlueRock Diamond will be giving rns this Friday to report the total sales figure for those four diamonds found in the last couple of weeks i.e. 9, 21.56, 58.6 and 14.3 carats.
There is probability as most of us has expected that revenue generation out of these four diamonds alone will cross $1m and when adding the August production, we could be seeing above or around $2m for this month income to BRD.
I hope there will be no going back to sleep anymore after full completion of project expansion.
I agree completely with the mcap and those 3 diamonds alone will bring in more than $1m I reckon. I think when they release the results of the August tender in the next couple of weeks then it will start to get noticed and won't take long to get to £1+ given the small float.
How big a diamond do they have to find to catapult the SP past £1? The current Mkt. Cap. is ludicrous and I am still not in profit! Grrr!
More good news and I'd love to know what the size and quality is of the standard run of the mill diamonds?
Good news comes in threes but I'm hoping for more.
Risk of dilution fading fast. Hopefully!
BlueRock Diamonds PLC / AIM: BRD / Sector: Natural Resources
19 August 2021
BlueRock Diamonds PLC ('BlueRock' or the 'Company')
High quality 14.3 carat diamond discovered
BlueRock Diamonds PLC, the AIM listed diamond producer, which owns and operates the Kareevlei Diamond Mine ('Kareevlei') in the Kimberley region of South Africa, announces the discovery of a 14.3 carat stone, the third high quality large stone in August to date.
Mike Houston, Executive Chairman said, "I am delighted to report the discovery of another high quality and high value diamond, a 14.3 carat stone.
"The discovery of this diamond, which swiftly follows the discoveries of a 58.6 carat and a 21.6 carat stone in the past few weeks, provides further encouragement for the 'size frequency distribution forecast' that indicate our pipes should deliver large carat diamonds.
"I look forward to reporting on the realised value for these three exceptional stones following the conclusion of the August tender at the end of this month."
Large stones recovered in 2021
Date sold 2021
Carats
Value US$
Value per carat US$
August (1)
14.3
TBA
TBA
August (1)
58.6
TBA
TBA
August (1)
21.6
TBA
TBA
May
6.3
52,000
8.300
March
8.4
89,000
10.600
10.7
73,000
6.800
9.8
53,000
5.500
January
14.8
163,000
11.000
(1) To be sold in the August tender
(2) It is the Company policy to announce all stones sold with a value of in excess of USD50k
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
My worry is twofold: with having such a dominant shareholder we are open to, as you say, a lowball offer and with the recent problems in Durban which is a port city, how much of our orders relating to the commissioning of the new plant are being held up and how long the delay will be.
Now we have confirmation our mine has 50+ carat diamonds and D colour which is the rarest and most valuable diamonds, this will have got us noticed with other mining companies. My concern is that we might get a low ball takeover offer. As mentioned., if that diamond didn't have the black sulphide which was unlucky then would be worth multiples of our market cap and if we have found one then very likely more will get discovered (and maybe bigger) in the future.
I did some financial modelling last year on BRD. I calculated NAV 28m£ assuming 200$ margin 45k carats for 10years (10% discount rate). See link on my twitter https://twitter.com/henrik115/status/1296457832678789121?s=21
Large Diamonds like the one from yesterday (If it would Have been perfect Quality ) could get a value larger than the current Mcap.
The reserves are also likely to support 15 year mine life rather than 10 year.
This is a longterm hold for me as you never know when another large Diamond pops up.
Could easily see BRD going to 150P Or more once the full potential gets visible with 45k carats production and finding a few more large gems.
It's more about reading the smoke signals with a company like BRD.
I think bigsmoke has read them quite well. Of course things could go either way but we are at such a modest valuation largely due to poor past performance. After all, the quality of diamonds is there and a few lady tempters seem to be appearing.
Please show the workings in your calculation that gets the SP to 60p
??
Looking at the stone here it doesn't look to me that it could be cut into a particularly lage single item, nbut i am no expert..
https://twitter.com/_BlueRock/status/1427229440384319488?s=20
Disappointing reaction by the market I must say. Obviously the uncertainty around the valuation is holding it back although it's refreshing that the CEO is being honest about the diamond. Imagine if they had just said it was 56 carats D colour then this would have really risen. I think we will be pleasantly surprised when they announce the tender results for Aug and as Hank says, the D colour is really significant and wouldn't be surprised if we get over $1m for the 2 diamonds which is a 6th of our market cap (and with potential for more 50+ carat diamonds to come going forward). Also if the black sulphide is just in small areas of the diamond then can still have a 40+ carat diamond from that which would probably go for above our entire mcap. The August tender will be very interesting and not long to wait. Tempted to buy more but already at 75,000 shares