George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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http://www.investegate.co.uk/Article.aspx?id=200906230730003161U
That's the ballsieish punt I've ever seen! You'll be looking for at least 1000000% increase in the sp to break even. GL :-)
Any reason why these havent taken off further since half 1???
fubar comes to mind!
0.65-0.9
..... Please!
mighty rocket How much does it cost you to buy and sell those 100 shares?
just had a dabble only a 100 as my 1st time but look ok
this is going through the roof!
Had these ages now bought at a wide spread when they were 0.38 so not far off even at moment. Does anyone else have any idea if there going to get this laser machine off the ground?
DIAMONDTECH INC ('DiamondTech' or 'the Company') PROGRESS UPDATE ON PRODUCTION, WORKING CAPITAL and SHARES CONVERSION Update on agreement with Automotive Commodities (Pty) Ltd The Board of DiamondTech is pleased to announce that Automotive Commodities (Pty) Ltd ("ACP") has taken up its role as operational mining partner of the Company's operating subsidiary Primus Special Projects (Pty) Ltd ("PSP") following satisfaction or waiver of the conditions set out in the agreement between the Company and ACP announced on 3 November 2008 (the "ACP Funding Agreement"). ACP's operational mining expertise has already reaped benefit in rectifying the unsatisfactory production position at PSP's Grasfontein diamond mining operation. The equipment to rectify shortcomings identified by ACP and PSP has been delivered to Grasfontein and is in the process of being installed. It is anticipated that production will recommence before the end of December 2008. The most recent drilling report has identified the co-ordinates of potentially diamond bearing gravel at Grasfontein, which is where operational activity will restart. The Company will provide an update regarding recovery rates in due course. Update on working capital The announcement of 3 November 2008 further set out that the Company required approximately £350,000 to cover its short term commitments and minimum working capital requirements for the nine months from the d
BINDING CONDITIONAL HEADS OF AGREEMENT IN PLACE FOR MINE MANAGEMENT AND UPDATE ON WORKING CAPITAL FUNDING The Board of DiamondTech announces that it has entered into a conditional Heads of Agreement ("Agreement") in relation to a management contract with a strategic funding consortium, Automotive Commodities (Pty) Ltd ("ACP"), for the funding of working capital for its operating subsidiary company, Primus Special Projects (Pty) Ltd ("PSP"), and the management of its Grasfontein mining operation in South Africa, effective 31 October 2008 with an initial term of six months to the value of ZAR 18 million (£1.2 million). On 1 September 2008, DiamondTech announced that it was undertaking a strategic review and that it was seeking to raise approximately £300,000 of working capital by the end of November 2008 to enable it to continue to meet its short term requirements and to enable it to further market the proprietary laser sorting unit ("LRUs"). An update on DiamondTech's funding requirement is set out below. In addition, DiamondTech announced that in order to further progress operations at Grasfontein PSP required additional working capital and the Company was in discussions with various strategic investors in South Africa in order to secure this additional working capital. The agreement with ACP will contribute towards PSP's funding requirements and also provides additional mining expertise to assist the manageme
reading rns this has got to be a dodgy share to buy into, i think it will go down some more over next couple days, only my view thou, bad rns
Anyone going to mop these up dirt cheap to see how they recover? There have been a few bought just before the close today. Having read the RNS It would be handy to know some more on the technical side to try and judge how long a recovery might be. Massive punt for the brave though don't you think???
Have seen the RNS, too bad!
Up 7.5% only 2 hours ago, now down 22%!!!
I bet this rises by more than 15% very soon...........
This may be good as you say, the price is for longer term gains and looks low and at a great buy in point but the spread is big and the share needs to rise a good bit to be back in profit, but worth a look definitely based on your research below. Have a look at GEMD (Gem Diamonds) the SP is at a good buy in mark with a good spread and they do top notch diamonds but research it yourself............
1) Share price is on a 52 week low and yet full scale production started around the 12th June, detailed data on the yields and grades at Grasfontein should be available soon. This should be favourable ...“the Group has made solid progress in perfecting the LRU sorting technology to ensure the production LRUs meet, and possibly exceed, the very high results achieved in the development and testing phase prior to the acquisition of Earlyworx.” Graham Butt, Chairman, 30 October 2007. The recent 4p spike could be revisited. 2) http://www.diamondtechnologiesinc.com/download/research-final.pdf..." Given this near term income, a ‘resources in-the-ground’ comparison with other alluvial miners seems appropriate and would indicate a market value for DTEC considerably higher than its current £40m.” (with sp @1.75p current market value is only around £3m) Doing some rough calculations the forecast income from current project, Grasfontein is (see link above) $294m over 14 years giving $21m pa (£11.5m). So nearly £1m per month. (The current market cap is only £3m) 3) Nov 07, 3 directors buy at 4.75p 4) Increasing diamond prices…“With diamond prices increasing by as much as 43% over the last six months, they are rapidly becoming an attractive alternative investment....” http://www.wealth-bulletin.com/portfolio/content/2451613910/
Thanks, I never thought of contacting them, maybe the advisors don't know. I would have hoped that they would produce an update a month after production began any longer and the silence will begin to sound ominous. I am tempted to buy some more as this one responds well to good news. Have a look at IHGP, very undervalued and in a potential bid situation.
Hi catshack - I have just tried to find out what the latest is regarding production from the companies Nominated Adviser. Unfortunately they tell me they are all to busy to talk to me, and are unsure as to when someone can call me back !! Defineitely would not want any of that bunch to be doing any PR for me if I owned a company.
Its a month since production began, does anyone know when we can expect a production update?
My brokers advised me to purchase at 2.25 a few weeks ago they recon they could go to 6 pence and that could be a time to sell. I just purchased another 35,000 today at 4.20. This still looks like a good buy to me.
I would think we can expect the sp to stay around this level +/- a bit maybe, until such time as we get a production update. As this is DiamondTech's first "all systems go" so as to say production, then the market has nothing to compare it with. From the trials DTEC have conducted at a smaller scale which they say have been successful, then IMO only, I would think the first production update should be possitive and we may see the sp on the up again. As I have said this is my opinion only - every one to DYOR.
Interesting? Why market on this stock freez now???