Member Info for Adastra

GT - is this Gary Wyatt the one I think it is; owner/founder of Wyatts and principal of White Cloud Capital? If so, his increasing interest could possibly be very relevant/helpful in loan debt renegotiation as a 5% plus holder. Just a thought.

Now let's see this baby grow. Two good RNS on one day. Renegotiated loan debt, top of the agenda. This is now playing out as predicted here. The explosion in Newgate tweets since Brexit indicates the appetite for an integrated communications company with a handle on the market post-Brexit. Right crew, right management, right place, right time. Onward and very much upward. This is the first of much more good news IMO.

This reshuffle should be viewed as very positive news. All long term holders will appreciate that, without Bob, Porta would not have achieved the 'critical mass' that is now gaining momentum. Thanks Bob. David Wright has grown it from a collection of start-ups to a £35 m turnover, which is no mean feat. Remember that Newgate Australia was a low cost start-up, now a star performer. Steffan Williams was brought on board with specific remits of bigger clients and senior hires. Bigger clients are coming in and his hires have been cash-generative 'from day one' with no head-hunting fees needed. Promotion to CEO is an excellent move as it firmly stamps his style on the future. With DW as chairman he has a seasoned head at the table and a string of influential colleagues by his side. This move really does indicate a rejuvenation that is clearly aimed at attracting new investors. Nice to see GT was correct in spotting Gary Wyatt as the big share buyer in the wings - obviously sees this as a bargain. Bob, despite stepping down as chairman, has watched this baby crawl and walk, I'm sure he'll want to watch it run. If this was the move preventing director buying, then we may now start to see some action; sentiment should also start to focus on prospects now rather than old school. Interesting.

Think you hit the nail on the head there. Lack of information followed by a delayed RNS whatever the content was going to spook the market and it did. The irony is that all the big long-term holders and a lot of PI's are well aware of the inherent risks as DCP clear adjacent old workings to gain access to higher grade K4 kimberlite. The reward is that once in place, production ramp up can start in earnest. The possibility of mud/water ingress was highlighted in the original analysis - DCP encountered it, controlled it, and sealed it. The return air pass is secure and hence no mention needed. It caused unexpected delay but safety was paramount and the challenge met. Now we have potential problems from sidewall friability as K4 is engaged. Safety is still paramount and this possibility was also foreseen in the original survey. It is temporarily slowing progress and that is frustrating, but as long as we maintain an exemplary safety record, the progress continues towards full production. Cash is tight undoubtedly and RNS cost cash so prudence is the key. Should management have kept holders informed? Undoubtedly yes...use the blessed website! By posting a day by day, week by week commentary on progress, whatever the hiccough can easily be put into perspective. So we are now probably going to see 14k tons Oct. Nov, Dec raising to 20k Jan, probably 25k Feb and then running to 30k by end Q1 2017. Had this been delivered as a website blog, it would also be highlighting the rise in cph from July and August 18 to 24 to 29 as K4 came on stream. It would also have indicated the increase in 'special' recovery sizes. This would not breach any confidences as any news really worthy of an RNS eg exceptional stones could be conveyed in the usual manner. Reworking old mines is full of risks and DCP is particularly vulnerable as old work K4 interface risk is higher at this time and cash is critically low BUT, as grade is now showing, the prospect of hitting more significant diamonds, even with a three month 50% reduction in tonnage is looking better. The fall in price seems overdone given the life of mine characteristics and proven provenance. Yes there may indeed be more stumbling blocks, but these are inherent risks in this type of mine. Management have dealt with each problem as it has arisen, preserved safety, sorted it, and gone forward. The 50% production rate may be a disappointment, but the resource is still producing good stones, the rough diamond price is still tracking a yoy high, and the timeframe to full production has only shifted a couple of months. Challenging but not insurmountable - that's why the big holders are staying put. The price should recover with a bridging facility in place given the long term value of the resource. Just wish BoD would use the website for investor relations more proactively.

The fact that DCP is now clear of the low grade K8 and K6 and mining into the high grade K4 is good news as the grade quality and carat sizes are also increasing nicely. The tonnage reduction is a pain in the neck, but grades have lifted from 18cph in July and August. If they continue to rise in the K4 virgin block then it really doesn't take a great deal to make the current bombed-out price look cheap for a valuable long term diamond producer on the cusp of full production. I appreciate the disappointed views, but financing at this late stage from existing or new holders should not be difficult. Should an opportunistic bid approach appear then I hardly think it would be unopposed given proximity to full production, indicated grades and quality, and length of mine life. Cheap.

Is a nice chunky 1 million buy at 3.2p. I agree GT the buy volumes are getting bigger as stale sells are mopped up. One day, long awaited, the tide (and sentiment) will change. I wait the first post-Brexit director buys with interest as I don't know what is preventing them other than price-sensitive knowledge given the cautionary upbeat outlook.

And happy to hold here and wait. DYOR and look at the life of mine value here. Four months wait till full production versus years of diamond mining and prospects of dividends for years to come. If this isn't a decent higher risk addition to your pension portfolio, then I don't know what is. IMO, buy - hold - forget - benefit.

We're all doomed Capt Mainwaring.....................we have a locked treasure chest and we're looking for the key........... You have to laugh. So many oil shares built on the wish of a drill-bit with bloated SP's and here we have a real 'gem' with historical provenance and proven resources currently being mined and validated. I totally agree with Banksman but the key is going to cost a little more when true value involves more than one interested party whatever the future holds.

But......would expect major shareholder EIIB [along with Majedie and Legal & General] as long termers to step in to support at this late stage or have plan B in place. Their averages are considerably higher than current SP and can see the 15 year plus returns and increasing cashflow from 2017. Definitely down today, but certainly not out, merely disappointing but it is a high risk/high reward share period.

The knee-jerk reaction was way overdone here. It only takes a few 'good' stones to transform prospects despite the RNS. The company are now getting clear of the old workings and in virgin kimberlite so the prospects/chances are increasing despite the reduction in tonnage. The fall in price is a negative reaction discounting any possible positives imo, hence my investment today - just looks overdone so worth buying as others fear.

Too cheap for a producing diamond mine with virtual 100% safety record in a known producer mine. All the risks are written into this MCap even allowing for any dilution. fair risk value still has to be around 3.5/4p with any special finds a bonus.

Despite all the cautionary set-backs at least the grade is recovering strongly from July and August into September. If grade contnues to increase despite slower processing then the picture may be less bleak than current comments are painting. I'm tentatively on board at this level.

For a producing diamond mine with proven provenance looks harsh as most of the risks are being covered.

Two sides to each coin: Negatives: Cash-strapped, delayed [again] production ramp-up, continuing set-backs, poor management communication, need to strengthen that management. Positives: Safety paramount; mining fresh kimberlite with higher grades, no ongoing water issues, 10-15k processed per month with full production mid-end Q1 2017. Increasing possibility of 'special' finds. Its mining - pays yer money makes yer choice. At least, unlike oil exploration, we know that diamonds are increasingly being mined here.

We are surely now approaching an inflection point where the stale sellers are being balanced by those keen to buy into new management. Once this turns, it should do so very quickly and may not just need good news to kick Porta upwards. Sub £9m MCap for a company with £35m pa turnover just HAS to be hitting a few investment managers desks soon as an understudy uncovers this.

Safety is the priority here and management have still managed to progress the mine to production with an enviable safety record. There is no mention in this RNS regarding water ingress which is positive as the return air pass looks to have been effectively sealed. Disappointing...very, but 15000 tons of new kimberlite each month and an increasing number of special finds is not a disaster. A possible 15% dilution on the cards may be a short-term hiccough, but full production once clear of historical problems by end-December is visible and February 2017 is only 3.5 months away. After all the patience getting the Lace mine up-and-running, it is in the final furlong.

Fill yer boots as they used to say. Classic turnaround with new management cash generative from day one. IMO anyone buying now will see considerable 12 month upside for all the reasons I continue to highlight. The upturn post-Brexit is gaining pace and Porta companies are in the sweet spot. £35m turnover and MCap less than 25% is Crazy. Newgate Australia would exceed this MCap alone if floated. .... Bizarre!!!!

The loan debt was bundled to April 2019 with accumulated interest to defer payment forward and release cashflow from incremental interest. This was not ideal but it does allow for repayment at any time giving flexibility as the anticipated upswing post-Brexit kicks in (which it appears to be doing). Refinancing is complicated by the fact that Bob Morton has been extremely supportive through the teething years of building the foundations. He is an astute player and expects to see his investments rise threefold. Porta has had its share of hiccoughs BUT revenue has continued to increase markedly year on year since 2011. His actual holdings are, like most of us, worth considerably less despite the progress. BUT, he has continued to invest as he has the vision to ride out the waves and see the bigger picture. He was instrumental in bringing in Steffan, Gavin, Charles and now John, and helped Steffan beef up the management in rapidly expanding Australia. There is a tangible frustration in all the BoD that revenue growth is soaring yet the MCap has failed to recognise it. We must be at the tipping point where returns are so poor elsewhere that the progress being made by the invigorated management will start to attract new investors and both GT and myself believe that is now underway. Once that happens, the banks will then fall over themselves to refinance at LIBOR +1%. In my view it's just a matter of time. GoTrader and I only differ on the fact that I would pass the baton firmly to Steffan on his track record to date. In 12 months he has totally fulfilled his remit. There is a lag-time till investors recognise it, but all his hires have been cash-generative from day one and we are starting to see the Gavin-effect and the Charles-effect follow on from the [as I coined in January] 'Steffan-effect'. I would now prefer David Wright to drop into a background role with adjusted remuneration, and let the market rate Porta as a rejuventated group with a unique integrated communications offering. It is working and I see it accelerating from this ridiculously low level given the sheer quality of the assembled team. Look at the 60% increase in work-in-progress even at the June 30th 'Brexit' stage.

Looking purely at sentiment, it appears to have switched from negative to positive at about 15.50 yesterday and change in sentiment usually heralds news in shares - blue or red. In this case blue. Interesting.

Given the actual evidence of an upswing in work since Brexit as indicated in the interims, I am surprised that more and bigger buyers are not getting into Porta. The Sompo/Endurance deal is a 'big' one, especially considering Sompo chose Porta to handle all its communications on the new 'integrated' platform. The excellent news of the government go-ahead on fracking in Lancashire is also a massive coup in the UK as PPS/Newgate have been working with Cuadrilla for over two years in public/political engagement. This really cements their position in helping companies work with UK politics to achieve positive outcomes. I expect more on the back of both these events. Porta can only go unnoticed for so long once the current 1m sell/4x250k buy horsetrading ends. Once the overhang is cleared the price should start to float upwards on new management and upswing in prospects. Once the penny drops we should see a quick reversal which accelerates imo.