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Again, I have to agree with both of you mil09 and nathanR999 and your fears echo mine, particularly of the prospect of the company being taken private.
Department of Mineral Resources and Energy will not without any reason enforce them to halt the operations. This can be seen as another intentional non-compliance in health and safety rules from the company management (esp. Mike Houston) in order to bring the share price down.
BlueRock should have CEO running the company, not that Chairman. He should immediately give resignation because of numerous reason such as continuous raising of funds at lower price through placing and also giving favourable deal on every placing to Teichmann to pay on instalments without any interest on it, employing contractor (Teichmann) who does not comply with health and safety rules, buying second hand machinery equipment from its own company without doing open tender to get good deal from other companies, deliberate delay in the project completion and creating doubt in shareholders mind about company going concern.
I don't think this is the matter of FCA investigation? Mike Houston must be eyeing for a role in Teichmann Group once he become successful in selling BlueRock Diamond to them.
All part of the plan to take private at a cheap price. Have just around 10k share here and the maj shareholder taking it private just as we hit profitability is my biggest risk on my list of pros and cons on holding this share. I hadn't factored nefarious shenanigans might be used to do this.
You do have a point. However, it's claimed there was no indication that the DMRE had previously given any indication of potential H & S breeches.
I'm a little bit surprised though that given the mine is the sole means of income for the company, there hasn't been a suspension of trading...
Both Mike Houston (as a chairman) and Gary Teichmann (as a contractor boss) should give resignation from the position at BlueRock Diamonds as they should be solely responsible for bringing the operation to halt by not ensuring the company is/were complying with health and safety regulations.
I hope they are conducting the necessary remedies to the mine so that they can bring the mine into operations as soon as possible.
Let's hope the stoppage is down to something as 'relatively simple' as not having up-to-date mine plans and schedules or other layouts which are a legal requirement to be held on site and not anything more serious and potentially life-threatening to employees (which might take longer to resolve). It does seem a little strange that a notice should be served now at the completion and commissioning of the new plant and there has been no previous indication of potential breeches of the MHSA.
Following a visit to Kareevlei on 9th November 2021 by South Africa's Department of Mineral Resources and Energy (the 'DMRE'), Kareevlei was issued with a Section 54 notice in terms of the Mine Health and Safety Act (given in the event of a deemed safety breach) on the evening of 11th November 2021. Accordingly, operations at the mine have been stopped pending resolution of the issues identified by the DMRE. The DMRE has visited the operation regularly, including during the Company's current expansion project, with no previous suggestion of this outcome
Well It looks like team BRD couldn't quite complete the expansion for October, new plant commissioning maybe but completion for early November is not too far off now! Hopefully the bod are a little more vocal when all's up and running
Potential investors here must be waiting for large diamonds to be pulled out with ladies dangling from them!
Diamond sector fully recovered from Pandemic hit.
https://www.mining.com/alrosa-says-diamond-sector-fully-recovered-from-pandemic-hit/
Having been invested in a couple of companies that were bought out on the cusp of profitability, I fear I’m seeing the same pattern. It’s difficult not to see us as a small cog in the Teichmann machine.
Having been on this particular rollercoaster for the last few years, and seen the turnaround, I’d be rather disappointed to be pushed off the ride as we finally get to the finish line.
I hope I’m wrong, but I’m finding it difficult to think otherwise.
...on Tuesday morning but since then it's gone into reverse with a vengeance. Just how much good news is required to double the SP? Obviously, the illiquidity doesn't help and it means nervous MMs appear to move the SP up and down on the strength of one trade!
Rather miserable response to a cheering Production Update but that is now par for the course for BRD, it can't exist for ever as eventually cash flow - the real test - will be good enough to repurchase shares for treasury as a buyback. Nice to have the short-termers out of the way though.
14-Oct-21 08:32:40 47.25 8,000 Buy* 43.00 48.00 3,780 O
This is the last transaction and is a man or woman after my own heart, indeed he or she got exactly the same price from the MM that I got before the Q3 Update when at long last I averaged down on my non-ISA holding. (Long-term readers will remember me from 2019 and earlier - BRD for ISA and SIPP).
My own details were:
11-Oct-21 08:41 47.25 2,320 Buy* 43.00 48.00 1096.20 O
It looks like both the sales of yesterday seems to be the one bought day before it. Hope they made the right investment decision to lose around 500 quid and make money elsewhere.
How about Don Houston and his team selling BlueRock Diamond mine? I am sure there will be competitive buyers in this buoyant diamond market where BRD could get good offer for it.
This is perfect news for us and I can only see the share price moving higher as time goes on
From his interviews he is switched on and down to earth with no bull****
Excellent Q3 results but they should be using some of that revenue to pay down the Teichman loan. But really good to hear the average Q3 price and average 2021 prices paid are so high. Roll on the final commissioning of the plant this month.
Excellent update today. Making good money now; Looks like next year they should make net profits of around $5/6 million......all on a MC of £7m
Should be an interesting day today. ATB
I believe Teichmann are not that much greedy to convert their Loan in shares while paying it on instalment.
Can this company remain under 50p until June 2022? I doubt considering the quality of diamonds they are finding and soon after that Q3 update along with starting of 1 million tonnes processing machinery with specially designed screener is published, who knows BRD can find bigger plus expensive diamonds to pay back that loan before that June 2022 (upon don Houston blessing).
Even with the arrival of small herd, BRD share price has the potential to leap forward.
I believe Teichmann will not be exercising its rights to convert its loan to shares when BRD share price reach 60p for a strike price of 40p.
Teichmann are lending the money on instalment basis (12 months starting from June 2021) and I think they will not convert until they provide the loan in full amount. BRD should have charged Teichmann an interest for allowing it to provide the loan on instalments plus for the share placings too in the past.
So, until June 2022, there (may) be no issuing of further shares. And with that in mind, when the BRD share price reach 100p will still make this company well below $15m.
Q3 2021 seems to be making of new record in the increase of revenue throughout BRD operations. We will definitely find out coming week.
Quality big Diamond are getting unearthed and October is estimated to start the planned production of 1 million tonnes per annum.
Directors must be busy preparing Q3 production reports trying to figure out the sort of information to include before publishing it which is soon going to happen.
Expecting some nice updates to be good enough to act as catalyst for share price to rise over a pound hopefully.
3 weeks of mostly sells and the share price has been fairly resilient. Presumably because the company are finally on the cusp of delivering the expansion project. Im sure the share price will come good soon. You may have to wait till the year end.
...but the SP goes nowhere! Despite finding extraordinary diamonds! I was tempted to sell but now I'm thinking I should quadruple my investment.