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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....
Last post: strudel, 24 Feb 2023 17:54
Suspended, 1430 today.
Teetering on the rim of the plug hole.
No
Is no news good news?
Started: NISUMO, 26 Jan 2023 21:52
Last post: NISUMO, 26 Jan 2023 21:52
And I thought the Kareevlei mine was set in one of the wettest places on earth.
Started: aimofthegame6, 17 Jan 2023 13:36
Last post: Rocktapper, 23 Jan 2023 16:39
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
Started: nomlungu, 17 Jan 2023 11:21
Last post: nomlungu, 17 Jan 2023 11:21
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.
Started: bunsenburner123, 28 Oct 2022 22:27
Last post: huddersfield, 3 Nov 2022 08:33
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
Started: strudel, 11 Oct 2022 14:19
Last post: SuperRoty, 12 Oct 2022 20:14
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.
Started: huddersfield, 17 Aug 2022 13:33
Last post: Disruptor, 14 Sep 2022 11:45
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."
Finally, from the recent RNS: As explained in the Circular, as the resolutions have been passed, it is the intention of Michael Houston, David Facey and Tim Leslie to resign as directors, subject to suitable replacements being identified. A further announcement regarding progress in respect of these board changes will be made in due course.
Waiting for the drop to 7p...
I’ve been a shareholder since 2013 and all I’ve done is throw money into a deep hole. Sure, we’ve got great quality diamonds but the problem has always been with the management of the mine. It’s gone from bad to real bad and now doesn’t exist in any recognisable form. Remember, a fish rots from the head down. Our only hope is the present cash raising exercise is successful even though it leaves small shareholders like me severely diluted. I’ve forgotten how many rights issues we’ve had since being on the Plus market but it certainly doesn’t show up the board and particularly the FD in a good light. Personally I think that at 7p it’s a good punt but only if Teichmann is more involved in everyday decision making. We can only hope.
Disruptor
You been hear for some time is the company producing diamonds on a regular basis ?
I am in with a small punt, not real put much time in to researching the potential that bluerocks mine have to offer,
Its a big drop over the last few mths,
Started: HermanusInclusus, 10 Sep 2022 15:45
Last post: HermanusInclusus, 10 Sep 2022 15:45
https://www.igi.org/gemblog/sothebys-selling-historic-11-15-ct-williamson-pink-star/
Maybe one day we'll find a similar one.
Started: Bigginge1979, 4 Aug 2022 14:24
Last post: HermanusInclusus, 16 Aug 2022 15:38
In with small amount (so far). Interesting article re diamonds in last week's MoneyWeek- "An investor's best friend- diamonds regain their sparkle". BRD with its tiny market cap and money secured can be that "best friend" in not too remote future
This will bag from these levels. Not one to hang around in but its certainly a good trade from here
Started: Bigginge1979, 14 Jul 2022 13:43
Last post: Bigginge1979, 14 Jul 2022 13:43
I think this one is a short term money making surprise with forecast revenues almost 10x M/C and lots of 7p loan notes that need to be offered to the market at a profit for the holders. I see 15p-20p in pretty short order. I do emphasise the short term though.
Started: Latino, 11 Jul 2022 19:28
Last post: Latino, 11 Jul 2022 19:28
Very positive forward looking statement CEO:
"The market has remained buoyant for non-Russian rough diamonds in the period under review and Kareevlei has averaged $576 a carat in the quarter, 35% up on the $428 a carat achieved during the same period last year. With the ongoing tightness of supply of rough diamonds and the expected recovery of the Chinese retail market, the outlook for the rest of the year for rough diamond prices is positive.
"With additional financing secured, we will continue to focus our efforts on optimising our mining operations at Kareevlei to benefit fully from the potential of the new plant and take advantage of what is a strong market, and I look forward to providing further updates throughout the year as the positive trajectory that we have seen in recent weeks hopefully continues throughout Q3 and into Q4."
Production update…
Started: Disruptor, 11 Jul 2022 11:02
Last post: Disruptor, 11 Jul 2022 11:02
At 0909 this morning I received this message: You have successfully registered for BLUEROCK DIAMONDS PLC - Q2 Investor Update which will start at 14th Jul 2022 at 11:00am BST. At 0914 the Investor Update was cancelled!
Started: Bigginge1979, 9 Jul 2022 13:29
Last post: Bigginge1979, 9 Jul 2022 13:29
This could be the quickest and easiest bag on the markets right now. Probably no future here and the board is totally contemptuous to shareholders but from a short term trading perspective it looks easy money. Buy when others are fearful.
Started: fcruz, 8 Jul 2022 00:07
Last post: fcruz, 8 Jul 2022 00:07
Teichmann is doing well. When it rains they don't work for safety reasons (I am making an assumption here), the result is that Bluerock does not have diamonds to sale so it goes in financial trouble. Teichmann then loans money to pay for their own bill by taking cheap shares that result in a 51% stake. This is not fish, its just life! Then shareholders are getting played with auctions in Kinberley, Teichmann services and tons or rain. Teichmann will get a "free" diamond mine and for sure then this claim will start to be profitable.
Started: mcadder, 7 Jul 2022 15:03
Last post: Devil2789, 7 Jul 2022 19:14
I don’t follow that closely but feels like this company had a big opportunity and just made a mess. One example they did a placing before good news was gonna land….
Looks like it's game over here, is there actually any value left here for shareholders?
Total stitch-up.
Looks like shareholders have been screwed, unless I've read it wrong.
Hi SR. I wonder whether you have had a chance to look at the Annual Report for y/e 31/12/21.
I couldn’t help noticing that Mike Houston received fees of £79,167 v ££59,500 in the previous year and David Facey received £81,000 v £59,000. One might ask why considering the state of the company and its precarious financial situation. Nice work if you can get it.
The RNS promised the financial statements this week. Let's see if they deliver tomorrow which will be a day late as no extension appears to have been applied for. Hopefully some good news about to land. :(
SR
It's on the cards. A certain party has them by the balls.
There was an update on the 17th. Improved production but not enough to materially affect June’s tender. So 6 months poor production.
So 2nd quarter figures aren’t going to be too great (abysmal). So the required raise will be substantial. The Two hats (see twitter - 10/5 sunny photo session) will let us know at the appropriate time.
Spot on. I refer you back to my post of June 1st.
Last post: SuperRoty, 6 Jun 2022 15:56
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.
Started: NISUMO, 1 Jun 2022 12:07
Last post: blakeney, 1 Jun 2022 13:20
"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.
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
Started: nomlungu, 1 Jun 2022 13:18
Last post: nomlungu, 1 Jun 2022 13:18
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
" "
Started: Bigginge1979, 19 May 2022 17:05
Last post: Bigginge1979, 19 May 2022 17:05
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