focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
the blxxdy dump trucks, were so we could be "dumped on". And we were
It all seamed to be progressing well then. Diamonds from the tailings, Diamonds from the development digging. Then if I remember correctly we bought them bl@@dy dump trucks and it all went downhill from there.
Anyone else misty-eyed for that glorious week in July 2015 when this stood at 12p? I know I am...
So what's going on with the administration, are they still negotiating with creditors to try and make it work. I've been following things on here and the company updates and that is what I was thinking was happening. Bit of a surprise if that's not the case. I would agree with some people on here about the communication and lack of effort in South Africa.
of course, I am quite sad to see this company going down ... shareholders like me losing out ... and so much upset on this board ... but one small positive ... "Using losses to reduce your gain. When you report a loss, the amount is deducted from the gains you made in the same tax year. If your total taxable gain is still above the tax-free allowance, you can deduct unused losses from previous tax years." So - any profits made elsewhere can be offset from this "disaster" ... Cup half full etc ... ---- BB ---- Fortune favours the Brave ...
the debts will be written off and shareholders will receive no monies, that will "disappear" in fees.plus. Some dodgy stuff happen. Console yourselves with "next time it will be different". according I am assuming you all have some money left. There were warning signs early on and we ignored. Opportunity to learn
They'll have written any debts off, jettisoned the shares holders who've supported them to this point and will be moving on to take all the profits. It sticks somewhat. Bloc was right about this one, a while ago. He said there was dodgy stuff going on in the back ground. Next time I'll listen.
Hi Tozerk, You are probably very nearly right. I wouldn't be surprised if Diamondcorp became Diamond corp (2017) with the same owners / directors. That has happen before and will happen again. However the stench of failure will also remain.
It'll be interesting to see how long it takes to reopen with exactly the same resource, but different owners.
Interesting spelling microbrain. I think you're deluded that you have anything worth remotely posting about.
Yes you both have made mistakes and given us your diloude wisdom good riddance.
Get over yourself microbrain. Jaf made more inciteful, useful and informative contributions than anything I remember you making. Yes, he ultimately made a wrong call, like we all have and we have suffered financially for it. C'est la vie. This is not the time for gloating smart arse. Any pea brain twit can be clever and wise in retrospect. Shame on you.
wheres jaf now its all gone pear shaped everything was all so rosy wasnt it jaf.
Done deal on 15th so yes we are screwed
is that it done deal all done
Farewell Banksman, all companies are not as bad as DCP. hopefully lesson learnt.
This has been one of the best BB to have shared, a lot of enthusiasm, some good craic, and always well informed. Sad to end this way. All that's left to say is thank you for your company, may fortune find you ... and farewell.
Ditto just had mine through from Halifax, a small part of me (the optimist side) is hoping for a last minute reprieve, sadly the realist side is screaming get over yourself you have lost a big wedge, been screwed by circumstances beyond your control and you knew the risks, regardless still a very bitter pill to swallow as I kiss goodbye to 25k!!!!
Just had my notification through from TD Investing. Sad times folks... Inside this fat lady, there's a skinny streamlined and well-positioned one screaming to get out...
Sympathies to all who have lost in this catalogue of errors/misfortune/mischief. For some of us it may have to be Meth's in place of whiskey.. Diamonds may be forever, but not for us, not today. Would be saddened, but unsurprised, if Dcp was bought for a song by a newly formed mining company headed by a fat lady related to Zuma, otherwise known as shower-head. One useless but interesting piece of info, semi-related to lack of investor appetite, is that the no of S.Africans getting alt passports is up by 260% yoy(?). Smart money leaving....
Hi bluebottle, so some good will come out the fiasco that is DCP, you will be warm for a while and think rosy thoughts of the management of DCP. I would say have a whisky in front of the fire. Could be that after DCP you cannot afford whisky. Hi Valency, I totally agree with your comments / observations all parties in this sorry mess had scant regards to investors money. I wish everybody well and not all companies are ............... you fill in the blanks ATB DAR
http://www.thediamondloupe.com/articles/2017-05-05/end-road-diamondcorp-miner-files-administration Yuen Low, analyst with Shore Capital, said, "ACMU were guilty of being very shortsighted. In trying to extract maximum compensation, what they ended up achieving was complete retrenchment of the workforce ... The unfortunate string of problems and resultant production delays saw a vicious circle of 'rescue' raises and increasing dilution ... with liquidation representing the ultimate dilution." He notes that all stakeholders, including key investors who should have provided financial assistance much sooner, carry the blame.
Just had my notification from my broker that DCP intends to withdraw shares and appoint administrators. Withdrawal of shares from AIM with effect from 15th May. I might see if I can get a physical paper certificate for each of the shares I hold, at least that way I'll be sorted for fire lighting material for a little while and get something useful out of the whole sorry mess...
Sheila, sincere apology for the very late reply and may thanks for your post & well stated views on S.A. It certainly isn't a bad place and neither are the people!! As with many a wealthy estate built over decades through hard work, it takes but one unscrupulous freeloading heir to crumble an empire. Zuma's despotic self serving politics is a great cause of concern for all South Africans as well as local & foreign investors. I haven't had the time nor inclination to despair but feel for those I've gotten to know on this forum over time that have honest hard earned savings invested. Should a last ditch effort to raise cash come to light, I would of course be willing to participate in order to save the mine & so doing attempt to recoup my investment but at this stage shareholders have no idea of the state of degradation at Lace nor escalation costs, not to mention that Lace is without a workforce. Perhaps by chance any offers received are so opportunistically low in the current political climate that that not even primary lenders have hope of recouping investments which may sway their reluctance? I won't bet a days wages on that though so let's wait & see what the outcome is. Thanks for your post & wish you all the best! Val
Oh dear, we're stuffed then.