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.
It will be reopened in the near future bu a n others. We've been ripped off I'm afraid.
Never investing directly or indirectly in South Africa again. Joke country!
You in this too?!. I have had a string of very bad luck in my investments lately. Real kiss of death. Don't listen to tips from me.
That really is very disappointing. There is fundamentally a potentially lucrative mine here. Unfortunately it has been lost due to a combination of bad luck and, it has to be said, mistakes by the stakeholders, primarily the directors who, for the best reasons, failed to raise sufficient capital when they had the opportunity. But the people sitting around the table during the business rescue process have not done themselves or the business any favours here. I really should stick to my rules of investment, one of which is never invest in South Africa! Too often things go belly up. Sadly the returns seem so compelling that the temptation is too great. I still have two other SA Investments where I am up one of which more than offsets this. Hmmmm.
Very sad day :-(
So what do reckon. Wait until the middle of next month to get an rns stating its all over? Tried emailing them, one just asking that the emails have been received, and got nothing but silence?
Bitnz, sorry to hear you need DCP to survive. I have to admit my ISA had a very healthy 5 figure value 2 years ago & due to African investments is now worth 10% of what it was. Not good. Lesson learnt.
Likewise. As much as I want (need) Dcp to survive, Actions speak louder than words. I used to post as Bitsa, but the criminal in charge has (imho) mortally wounded the country.
Sorry guys, I've come to the conclusion that SA should be avoided. Unless law & order in all matters is upheld, particularly wrt investment & finance matters, it will sink deeper into poverty & disorder. Ok, an act of God created the DCP problem (together with a few historical niggles) but the carry on since the great flood has been scandalous. In the old days, the gun boats would have sailed & sorted it by now. Today we apply due process, or sanctions, or embargoes, which take for ever to get a result & in the meantime cause misery to any number of innocents. In this case as the SA winter approaches, it's the miners & their families, unpaid supporting suppliers with their employees & families, the local community ... Hmmmm.
When I spoke to the BRP (Lebo) last week, she said all processes can run in parallel and that we can explore fund raise (Rights Issue) option at the same time OR in the background. BRP is hopeful of receiving firm offers from the 'Strategic Investors' by end of this week. It's plural, so more than one party interested here. Depends on what price they are willing to pay for Lace Diamond mine though and on what terms, etc. Might get an RNS next Tue / Wed after MAY bank holiday. Good Luck All.......It's not over until the fat lady sings....as the saying goes.
Mr.P............................£20k Otherwys..................£10k jaf1948.....................£20k dosher......................£10k Note: Please copy and paste old list, then ADD your name and £ figure. Can other folks interested please add their names & amounts to the 'Rights Issues' post going around. Remember this is a hypothetical list just to ascertain demand.
From what I have heard, there are few interested parties who want the mine for sure. Question is - do they want it via proper channel OR through the backdoor using underhand tactics ? Been very busy, did not get a chance to speak with Panmure Gordon. Will call them in the morning to find out exact procedure & time frame for the 'Rights Issue' and whether they have been approached OR instructed by DCP to pursue it at this stage given the time-frame. ATB
*Holdon.....(not Holon).....my apologies.
Holon...that link you found is totally unreliable..says a lot about credibility of the Author though. Despite the date shown as 20 April 2017.....it clearly seems to me a 'Copy and Paste' job by the author. So much info in there seems to be very Old news and just recycled, simply to present in a new form. I know both info relating to AMC and DCP is very old news. Personally I would TOTALLY discard it at this stage and only go with official company RNS.
To be honest I think It's likely a goner, & all our monies with it. The deafening silence Isn't encouraging, but fat lady hasn't officially taken the stage yet, so one still clings to threads of hope. Unlikely the Rand downgrade would encourage potential suitors either, so between Mother Nature, management, Gfc, Amcu & the ANC, Dcp pretty much hit every possible challenge. Guess that's why Aim/Altx is high risk😷
The BRP is not acting as a insolvency practitioner.
Certainly hope so Bitnz, The info does seem to be a little out of date, however, the administration bit is unsettling though. I was under the impression this would only happen in mid may. Even if hope or despair are educated guesses based upon an objectively valid appraisal of the current known set of circumstances they’re not guaranteed to materialise into the expected outcome.
Think that article refers to BRP, as section 129 is business rescue.. Suspect (hope) it is just lazy media reporting!
Looks like an insolvency practitioner has been appointed, that being the case, then yes administration. Any Investments goodbye. ATB
IS DCP officially in administration now then? http://technologies.14p.in/today-s-market-view-amur-minerals-corporation-asiamet-resources-diamondcorp-plc-sierra-rutile-ltd-ads-advanced-drainage-systems
The Paradox can be summed up in one word 'Debt' and one Continent 'Africa'.......
Pretty certain I see the upturned hull of my Dcp ship blocking the harbor entrance.. but grateful for a glimmer of hope from MrP.. Overcommitted on this one and, like most, have been less than impressed by the deafening silence from Dcp. What's it to be - delisting or recapitalization..?
....as you Jaf - unfortunately! I honestly thought I was a half decent judge of people, and having attended all AGM/s EGM's GM's etc this past few years, I really do struggle to believe that PL - and the new Chairman - would shaft us in a pre-meditated and callous fashion. That said, the silence is deafening, and my glass half-full attitude, is almost running on empty !?!
Well said Jaf. As somebody who I know has steadfastly supported the CEO through a lot of flak with good reasoned arguments and debate, your comments are particularly pertinent. I, like you, thought he had done a good job and steered the mine through to production only for terrible bad luck in the form of a once in a lifetime flood to occur. However, his anonymity and lack of any regard to his suffering shareholders , is a disgrace. My only caveat to this is if it turns out the stress and anxiety of everything has made him seriously ill- in which case I would withdraw my comment and wish him ATB.
Exactly Jaf. Especially since the news from Petra in City AM today that there are signs of stabilisation in the rough diamond market... someone with deep pockets will give the current C-suite a nod and there'll be a deal shafting shareholders. The situation is fast becoming utterly laughable.