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Hope everyone received the mail from Neil Riches earlier this week re court hearing in Delaware scheduled for Jan 2017. The court has ordered there to be a mediation meeting between the parties (Quest for WGP, Bloomberg and Charles Schwab) on November 29th with statements to be submitted to the meeting drafted by 17th November. The mediation group has the authority to agree/propose a settlement in advance of the court hearing scheduled for Jan 17. Neil Riches commented that this represented progress whilst inviting caution re the possible outcome. We could, therefore have a settlement offer before Xmas. Hopefully, Quest have done their homework and can push for a robust settlement. With only 40 million or so shares in issue, a decent settlement could prove very lucrative for us, especially when you consider how many companies are involved. I am unsure what the implications for WGP shareholders are right now, though. If a settlement figure is agreed, would the company be obliged to seek to have it's shares lifted from suspension so shares could be traded again? Would Neil Riches wish to issue WGP shareholders with a one-off dividend? Could NR transfer any settlement money into MyClubBetting instead? My hunch is that as the patent was issued under Worldlink, Aim rules would decree that any settlement be paid into WGP, but this may be wrong. I'll mail NR and ask him what the position would be and let people know. Regards,

A very fair and pertinent question! In addition to Sortapudits comments below, I see little risk of administration here, Jaf. Firstly, given that DCP is already producing revenue, it can easily demonstrate to potential investors/lenders, that it has the clear capacity to pay off debt within a relatively short time. Val has done lots of work on profit margins here and they are as good as any in the diamond industry as far as I can see. Second, the bulk of shares, unlike many Aim companies are owned by institutions and it is in their interests to see the company through this period. Collectively, if not individually, they have the resources to build in support here and my guess is they will because the potential sustained returns here are very healthy. I think people have been spooked because the company is duty bound to outline the fact that unless funding can be found, DCP may not not able to continue as a going concern. Seeing this in print is scary, especially if you have invested significantly. I believe the board will want to continue operating as an independent company because they are heavily invested themselves, in part, but also because they have confidence that high quality stones will be mined and these will make a huge difference to our revenue over time. Unless the terms of any merger or take over are very favourable, I feel PL et al will walk away. The RNS implies that there is more than one interested party in discussions with the board right now -another reason why I believe administration will not happen here. Sleep well all!

It has been suggested that we could be 'taken out' for 6p per share ie a cash offer of around £28.7 million. Given that DCP has around $1.5 billion of value in the ground, and that the directors and ii's are invested well above 6p, despite the precarious position the company is in right now, I cannot believe the board would accept an offer below 15p. It is worth remembering that comparatively little funding is required to take the drill bit to the lucrative kimberlite and our projected carat production down the line is 300-400,000 per annum. Time will tell, I guess.

Topped up this morning to bring my average down below 7p and hopefully news soon re short term funding will help us along. GLA

£500 should have read £500k. I wish.....

Banksman, I like the cut of your gib! I would suggest there are sufficient pi's even on this board that would be willing to contribute to a crowdfunding arrangement- I certainly would. However, my guess is that, especially as we are now in an offer period, rules and regs would prevent such a deal. Even though the potential of a cash buyer or merger are the talk of the town at the moment, we have to consider that 28 days from now, the board may announce that merger and bid proposals could not be agreed. I really do believe PL and the board will have a base-line price under which they would not be prepared to go. If short term funding is agreed, and £500 is nothing these days, I would return to my view that the company should offer shares at a premium to the current sp to raise enough capital to see it through to higher production and financial security. That would imply a placing of say 80 million shares at 3.5p to raise £2.8 million. I am sure this proposal could be funded entirely from current holders and for me, that would be a favoured option, Valency, I know you have been in touch with PL- is he aware of the potential of pi support here?

What an interesting week! I am a little surprised that the board has not opted for a share suspension given that an offer or merger is on the cards. They could be hoping investors pile in at these levels, lift the sp from it's current level, which would strengthen it's bargaining position I suppose- they will have their reasons of course. My gut reaction to the options ahead us is that a merger would be the least preferred option simply because we are negotiating a deal from such a weak position. Were we two years into mining with strong cash flow, that would be very different. If we are looking to merge with a bigger company, our shares could be worth only a fraction of that company's shares and therefore long term holders could be clobbered. An outright cash offer is more attractive, but again from our current lowly market cap, any buyer could offer peanuts, despite the actual value of the company. I still favour strengthening the funding of the company so that we are our own masters and then DCP can develop it's 'aggressive capital return policy.' over time. I trust that the board will keep shareholders interests at the top of it's priority list and, as others have said, institutional investors and board members are all invested here at levels much higher than the current sp- that should help all of us sleep easier. I have always felt this board have acted with integrity but this is the stage where that quality will be sorely tested simply because we are now into back-hander territory. Well done to anyone who bought in this week.It looks like your bravery could be well rewarded. Good luck.

Despite the car crash that this has become over the past month, I agree with some posters that the vast majority of the preparation work has been done at Lace and I would hope that the major investors show the faith that many pi's have done in DCP and put together a package that allows the company to progress towards 2019 under less pressure. Whilst I take the point that the board, in some respects, is in a weak position, this is a time for calm heads and confidence in the team at Lace to deliver. One strategy, and I have seen this done before, is for investors to buy shares at a premium to the current sp at the time, rather than the usual discount. This has the immediate effect of showing confidence to the markets and lifting the sp. I, for one, would back a move for a placing of, say 100 million shares at 2.5p. This would provide the company with the capital it requires and would enable it to move into profit. If any pi's have access to Paul Louden's ear, I believe that we could make a positive difference here.

Thanks for that. With many companies using our patented technology in the US, I agree a settlement could be mouth-watering particularly with the low number of shares in issue here. Not getting my hopes up as we have a long way to go, but us shareholders deserve a result here. Stay in touch, Wazza. All the best.

I spoke to Neil Riches over the phone a couple of weeks ago. I had received an update on My Club Betting and mailed the company to ask for an update on WGP. Neil phoned me himself and informed me that he was visiting the US this month for the final time to present evidence, out of court, re the patent case. The two companies involved in the alleged breach of patent have tried to block the case going to court, but on both occasions, the judge has ruled against them. The case, if it gets that far, is due to be heard in Feb 2017, but the parties may choose to settle out of court. There are many companies using the patented technology, so a ruling in favour of WGP would be very lucrative. If I heear any more from the horses mouth, I'll post here and I'd appreciate it if others did the same.

Good to see some buys emerging today- hopefully a sign of increasing interest? Nimbidc, I haven't a figure I would propose to be the true value of this company. All we have at this stage is a view about potential value, given Boil's portfolio of assets. As reggie 72 says, Island Magee provides some icing on the cake and will, in time, add value to the sp. The transformational prospect for me has to be Z34 which, if even low estimates are achieved when drilled, will see the sp multiply from where it is today. I recall the former CEO Mr Berens, stating informally that if Z34 reveals oil, the sp could be north of 2£! How good would that be! I'm in at around 1.5 and anything above 5p for me would be a great result. Time will tell. GLA

It seems like progress is being made on all fronts after a period of inertia. Let's hope the momentum continues and the sp properly reflects the value of the company.

Sold my holding today after nearly 7 years of swimming through treacle with CGH. My first buy was at 49p but I managed to average down to just over 7, so exiting with not too much damage. Ultimately I lost patience with Dekel and the company and invested because of the potential for a buyer, but that looks increasingly unlikely now and I'm too old to wait for this company to develop a mine and make a profit! Good luck to all holders, especially the long termers who have the patience of many saints....

Following today's news and especially the views in Dekel's commentary, it looks to me like our potential Chinese buyer has fled. I would have expected a bid to be tabled after such a significant reduction in operational costs has been announced. All along, the markets have met news from the board in luke warm fashion at best, so today's drop is no surprise. I groaned when I read that Dekel will inform investors of developments 'in the coming months' as in CGH speak, this means years. There is not even a hint in today's RNS of a jv really and that is now the board's only chance of achieving 'value for shareholders.' As for members of the board stowing away shares off-shore or in trusts, that is hardly the behaviour to inspire confidence. Time for me to move on, I think.

Strange day indeed Pablo. I'd tend to agree with Dibs about brokers reallocating positions is the most likely explanation for today's activity, but as always, we will be the last to know. Hopefully this level of interest is the precursor to the news we're all waiting for......

wazzza, any feedback after your trip would be most appreciated. Thanks.

Echo other's thanks on this board, Pablo, for posting Linda's reply. It always helps to hear a view from the company when formal news is so rare. As always, it seems the key to successful investing, ie patience, is the key quality for everyone involved with CGH. I have come too far with the company to lose my patience and believe the rewards here should justify riding on a snail's back for the past 7 years!

9124344, I'm sure we all share your frustration at the snail's pace of the development of this company. I first invested 6 years ago at 49p and have seen the sp drift away or plummet since then. Like you, my average is now around 9p and I hold 100,000 shares. I have kept patience with Chaarat for two fundamental reasons; firstly, the company has licenses for developing a genuinely huge, world class resource-now proven- that will be relatively cheap tp mine. Second, the majority of shares are held by institutions or board members who paid a far higher price per share for them than you and I have. CGH is not a miner so unlike mining companies who regularly update markets on production etc, the company has far fewer reasons to issue RNS's . Add to that the fact that we have heavy Chinese interest and we have the 'swimming through treacle' scenario we are faced with today and every day. I believe that the publication of the DFS is a very significant milestone and I also believe news re a jv (most likely) or buyer will follow once this has been signed off. Having waited for 6 years up to this point, I am not going to bale out now, however frustrating the wait may be. The hard work has been averaging down from 49p for me.... so I will continue to wait and back my hunch and the company's fundamentals. Good luck.

I also reckon the large trade was a buy- someone purchasing a thousand shares for every day in the year?! A definite sign of confidence and good luck to them.

The fact that the project can run through the LOM without the need for constructing a tunnel is highly significant. It makes Chaarat an even more attractive asset to potential buyers and, if we do enter a jv and become a mining company, it will increase profit margins substantially. Thanks for sharing that news, Pablo- your line of communication with Linda is much appreciated. Meanwhile POG continues to head north....