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http://www.corkgully.com/ http://www.corkgully.com/services/media-centre/latest-news/crude-oil-price-falls/ "The shares in DHL are now offered for sale by DiamondCorp Plc through Stephen Cork and Jo Milner, Joint Administrators."
New SENS on the JSE today confirming delisting from the AltX, but other than that dead quiet. Heard some rumours that there's interest in the mine from buyers, but could not reliably confirm.
And you never will.... Perhaps 4 years (maybe). Sorry
So quiet we missed the funeral?
So quiet we missed the funeral?
any word? very quite....
1 As others have pointed out the only reference to a 5.3m open placing is from July 2015 2 So? 3 We actually have only flimsy evidence in the form of 1 or 2 dodgy looking ads for this, and even if legit, it could be a completely new entity doing the employing 4 Don't know that he was ever removed from the page What we do have is hearsay that Paul Loudon has vacated his office and is no longer associated with the mine. That the last of the staff left the mine in the last few weeks. That there are potentially parties interested in buying the mine. That temporary crews might be introduced just to get the mine dry for potential buyers. The little news being released, like Spur raising funds for the retrenched miners, seems to support this more than any happy endings I'm afraid.
I found a reference to a £5.3 million DCP placing on the Panmure Gordon website, it is dated 15th July 2015, are you suggesting whogarth there is evidence of another more recent placing?
1 Panmure Gordan in a placing and open offer raising £5.3m SHARE. 2 Cork Gully have a reputation for turning round companies. 3 DCP looking for workers. 4 Paul R Loudon photo back on the website..
Maybe someone with a slightly less English/Mancunian accent than myself should give them a call enquiring ;)
Either someone is trying to scam the poor out of work folk or something's definitely afoot! http://www.jobspace.co.za/job/south32/1975354 http://za.jobomas.com/permanent-position_iid_102232658?utm_source=jobrapido&utm_medium=xml&utm_campaign=xml&utm_content=xml-avisos http://za.jobomas.com/call-center-0798291700_iid_102232662?utm_source=jobrapido&utm_medium=xml&utm_campaign=xml&utm_content=xml-avisos http://za.jobrapido.com/?w=lace%20mine
Hi Valency appreciate the reply, I'm hoping PL is wrapped up with Cork Gully working out a business rescue plan, I haven't contacted Cork Gully but due diligence shows them to be a first class operator who have many successes in turning companies back over to the management of the board, their priority appears to be keep the company trading even in administration if financially viable, hence perhaps the advert for staff although the advert date is 15 days prior to administration so this might not be connected. In response to Dar- are we as DCP shareholders then not clients of Cork Gully?
Hello Valency, I haven't been in touch Cork Gully, I personally don't think anybody else has. But from experience, it would be a pointless excercise, client confidentiality ..... ATB DAR
Apology for the late reply. I did not receive any response to my email 6th May. Has anyone been in touch with appointed Administrators Stephen Cork and Jo Milner of Cork Gully LLP, London? ATB
Takes longer than has passed but perhaps they are putting the mine back on care and maintenance. Cannot see it being a new co after such a small period of time. GL ( everything crossed)
I truly, truly, hope you're right. But I suspect Dar is right. Right people are richer, now having equipment and development we paid for, and our money is gone. It came at a really terrible time for me too. I honestly never expected this to go so far, I figured there'd be more delays, figured that my shares might be worth even half the paltry 2p it was when shares were suspended, but I always thought I'd be able to get at least some of my money back. Foolish. But it just goes to show you: if it sounds to good to be true, it usually is. Many people were talking of this share going to 20-40p not even a year ago. I figured I won't be greedy, would wait until it reaches maybe 12 or 15 and get out. Ha. Ha. Ha.
This advertisement, posted 30th April, is surely an indication that all is not lost yet....... Could administration be a massive show of brinkmanship, or am I deluding myself (again)? I suppose I can answer this one myself!
I have answered my own question and post this for anyone else who is unsure about the administration status. Q - What is the purpose of the administration? A - An Administrator must perform his functions with the objective of - Rescuing the company as a going concern, or failing that; Achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up (liquidated) (without first being in administration), or failing that; Realising property in order to make a distribution to one or more secured or preferential creditors. The Administrator must perform these functions in the interest of the company’s creditors as a whole. Q - What will happen next? A - The Administrators will initially review the company’s position and collect information about the company. The Administrators will assess whether there is there is the support (the employees, the suppliers, the customers and a funder if required) to continue to trade the business. The Administrators will take over the day to day control and management of the company.
Almost certainly a new company. Your monies have disappeared into the pockets of rich men, who are even richer now.
This goes out to Valency and Mr Positive did you gentleman ever get any response from PL I know at one stage you seemed to have some regular dialogue, or did PL remain elusive to all, also can anyone advise, if this is now in the hands of the administrators can it still be resurrected from there, basically is there any chance or are we all dead in the water?
http://www.jobspace.co.za/job/lace_diamond_mine_looking_for_workers/1948949
They knew what they were doing, they got it to the high point in terms of share price then they toke their profits. Flooded the mine, dragged their feet for a few months then bang closed up shop. The mine might be even dead, nothing left in the ground.
I wonder to what extent a failure / inability to pay bungs in the right places contributed to this disaster. After all this is SA.
That's ***** losing your retirement funds on this, its surel I didn't have to much myself but enough. Everybody that was aware of DCP were sure of their money. I can't believe what's happened. Surely the law will get involved as it looks like there never was a plan to begin with. A burnt out mine in the middle of no where. I was watching this movie Gold in January and thought of DCP. I would doubt that they could reopen this mine but n South Africa with anyone noticing.
Very. Most of my retirement went down with this mine :( I should have sold then. Something niggled at me, but I kept reading and re-reading this forum, watching pro-active investor interviews with Paul "Everything's-A-OK" Loudon, and reading their share holder presentations to convince myself it was a great deal. The smart money got out ages ago I guess. Many people told me to and I ignored them thinking they were simply overly cautious. I'll be working to old age thanks to this little misstep.