GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
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Steven, your postings are pointless, we can all see what is happening. Are you invested here or just a troll,
I have to say the ridiculous delay in the "so called promised events" have resulted in the deterioration of the share price. Along with the Jennings exit (who has dealt quite well for himself as usual!) has resulted in an utter debacle for shareholders. I have never been so disappointed with the "promised land" in my 30 year City career. They are a disgrace to the AIM market!
The results are not overdue. I'm sure we'll see them before 31 Dec, as has been the norm and as is the requirement. Not an all time low SP or an unprofessional team either but hey....don't let facts get in the way of a good moan.
All time low share price and rightly so, nothing on time, no accounts, smoke mirrors, unprofessional team.
Understandable harvd. I think you'll find it will be!
The looming completion of the Align deal @ 1.5p should turn some heads and the publication of the results statement before the year end should not only add confidence after last year's suspension debacle but also add commentary across the piece. Publication would also end the somewhat restricted "Close Period" so I'd expect a greater openness and PR as we enter 2024 which is set to be a crucial 3-6 months on the operational front and also with AMS firmly on board.
If they could also find some sort of resolution to the Aftan situation, it would remove a major uncertainty, paradoxically affecting market confidence despite them having already received US$4-5m in cash and now having the right to cancel the deal and reclaim the operation in full. CEO has previously indicated in interview that they're looking at "other alternatives".
In fact, I think the whole of that last interview might be worth a re-listen because he also covers AMS's motives and how Deep Blue had taken a back seat to their other priorities shaping up HMS and more than a suggestion that they are harmonising the operations of the two companies. The latest purchase of the pulsating jig suggests the foundations are now in place to resume a Deep Blue focus while they await NNR approval for HMS:
https://youtu.be/cRwLj1kaggI
Many thanks for your detailed comments Poppyseed,the information and views are appreciated. The company certainly appears to be making positive strides towards production and I hope that in the new year it becomes a reality. I remain optimistic but my glass that has been half full for many years has now drained away to only being a quarter full, let's hope it's topped back up shortly!
We've paid for this one, the last one was hired, charges to be covered only as and when diamonds were sold and it's pretty clear it hasn't been up and running efficiently over the past year or I’m sure we would have heard. I suspect it was a trial on both sides of the agreement which must not have worked out.
As you suggest harvd, it would have been good to know but maybe there were politics in play. Now they have the money to buy. I would hope this changes things, along with the statement that the purchase has been made only after getting Alexkor’s approval.
Not saying it's the case, maybe it was an operational efficiency thing or whatever but Kazera is far from alone among the contractors in being affected by the habitual politics and other issues at Alexkor and I guess sometimes diplomacy takes precedence. After all, we were at the time, awaiting the outcome of an appeal against the granting of the first ever HMS licence - for which a diamond licence is an absolutely essential prerequisite.
The Company refers to the general situation and previous issues in the latest update “Mining at Deep Blue is undertaken under contract from Alexkor RMC JV ("Alexkor"), a government owned entity, which has the rights to all the diamonds in the area.
Part of the agreement with Alexkor requires that it processes the diamond gravels and undertakes all diamond sales, but with Alexkor's Muisvlak processing plant operating sporadically, the ability to process diamond gravel and, accordingly, produce diamonds for sale has been greatly constrained.
In the past Deep Blue agreed to take on the task of getting the Muisvlak plant running as, without it, neither Deep Blue nor the majority of the other contractors in the area have a way of processing their diamonds. Deep Blue was successful in doing this but was forced to withdraw its assistance due to political and economic factors.”
Yes, but go back further to the RNS 19/07/22 and the company said that installing a pan plant would overcome the problems with Alexkor. No mention in the update. It should have been up and running over the last year.
"The new facility gives the Company complete control over its diamond production, with Alexkor only being responsible for final sorting and sales. The cost of the pan plant will be paid from out of cashflows from the diamond mine. The Company also anticipates further improvement in cashflows from diamond operations via additional income from making the pan plant available to other contract miners when it is not being used by the Company."
What happened to the Pan Plant?
Will we have the same problems in another years time having paid for another piece of equipment?
....last two RNSs, which together cover goldand mineral sands. In fairness that is pretty much all their activity as such and while it is not what we may want (jam now(, it is progress and bodes well for 2024. Of course the SP reflects our frustration but not their progress, but that's AIM for you.
Some say....
https://twitter.com/BigGibUK/status/652141013947932673?lang=en-GB
Not exactly unlikely, as I was suggesting below.
1 share traded =more news???.....
Maybe.....
They invest in these company's with out doing there homework, end up costing them money,
Untill accounts r seen if ever, markets will all ways write these company's off, piece machinery 4 diamonds is expensive I'm sure.
I agree less than inspiring news and suppose in the current close period the Co might have been panicked into releasing anything they could.
The Finals should have a broader commentary, including the effect of c. US$4-5m cash receipts dropping in mostly in the period to 30 June so it'll be interesting to see how that's treated in the accounts.
RJ continues to indicate closure of his 1.5p deal is imminent so there's near-term scope for the signal that'll send for the future. £4.2m being handed over for a 30% stake in a Co the market values at c. £5.5m would/will be some sort of statement from AMS, in actions, not words. Idiots typically don't have £4.2m to spare.
There's enough here operationally in itself to make the current SP look stupid in the relatively short-term and the first 6 months of the new year will be crucial to judging and trusting the longer future in store. Add in a solution being found to the Aftan payment situation, or re-ownership/re-sale, or whatever, plus nuclear clearance to start HMS ops and now (at last!) an Alexkor-approved (no small thing) solution to the persistent diamonds issues, plus whatever AMS surely must have in mind already and this situation just reeks of opportunity. It's the confidence in all of the above that's currently in low supply but, of course, that's also part of the opportunity equation/judgement.
Overall, I can see wheels that have temporarily seized but none that have fallen off. Indeed, they have turned cash receipts towards souping-up the engine in prep for a racing start whenever the wheels are freed. I remain hopeful that once the pre-results purdah is over (by their release), it'll open the door to a bit more openness than of late.
Agreed, most small mining companies could be summarised as "there's a hole in the ground and miners are looking into it!"
This is why II's (apart from the dodgy ones) dont invest in these types of shares and the cash has to come from Joe Bloggs SIPP. There are no real accounts to look at whats really going on is a closely guarded secret right up to their regulatory obligations and it usually jam tomorrow or jam in the next decade !
We’re still spending money with nothing coming in so it must be coming from somewhere - maybe everything hinges on 2024 and getting things
I suppose some news is better than no news but this is not exactly what we wanted to hear. I suppose they did not want us to have an appalling Xmas still waiting for everything else (which I will). Logic tells me that id Tant had paid up, that would have been the headliner, so we must assume they haven't.
Some news......regarding the diamonds 💎 production.
Some progress but cash positive moved to next year.....
Not a word about the rest of the business 😴 so not a transformational year 2023, hopefully 2024 at the earliest
Judging by the tumbleweed.....we have all heard this before.
From the RNS 19/07/2022 "Company has also completed the installation of a pan plant at the Company's Alexander Bay diamond mine, so removing reliance on external parties to process diamonds."
@poppyseed
Exactly, thats why I asked the question.
Somehow this feels as if that "transformational" moment for the company is imminent over the next few weeks IF it is going to happen at all. I've waited long enough, invested a signficant amount of my high-risk portlfolio, and averaged down. Let's hope that at last news comes through that makes all this patience and pain worthwhile.
I have tried to average down on this for years and are still well underwater - but hey whats good enough for Nick Leeson is good enough for me ! This share has thorns all over it....
Let’s hope so and let’s hope this transaction completes - buying at circ 200% premium !
Topped topped up last week at 0.64p to bring my average down to around the 1p mark so still need to double to get back in the back.
Surprise no update from board as we trade at multi year lows - hopefully waiting for something significant to tell up - maybe they’ve found the worlds biggest diamond but forgot to tell us 😂
No evidence, not related, looking like a chunky seller doing harm to the supply/demand balance during this Close Period ahead of Finals. Telegram offering some explanation. Sounding like all should be reversed and then some come completion of the major share transfer.