Member Info for bloch

SL100 Please think of the implications before you post that sort of rubbish. How do you expect me to win Jjjerseygirl's hand when she reads that type of comment about me.

KNIGELK - "what is unclear is why you STILL feel the need to put your two pennies in all the time" No what is unclear is why you keep coming back to ask others why they keep coming back when you have repeatedly said you will never come back. KNIGELK 17/09/2016 - "Right - this is definitely the LAST time I will post here and I really hope admin go ahead and ensure this is over here sooner rather than later... 99% of ex posters here have moved on .. and it's time the rest of us do the same... GL all those here will continue to take risks.. in moderation..." Since that post on 17/09/2016 you have made another 873 on the MTV thread. 567 of them was you claiming it will be your last post.

HiggyP - "Could we possibly end up getting some of our investment back" If you take the trouble to read the administrators report so far they have made it clear there will be no funds for unsecured creditors. Bergen are claiming £2.3m. The administrator thinks the correct figure is about £1m. Bergen is an unsecured creditor. There are other unsecured creditors like HMRC. The total amount claimed by creditors is about £6m. They would all have to be paid off in FULL inclusive of interest before any returns can be considered for ordinary shareholders. YOU WILL RECEIVE NOTHING BACK FROM MTV PLC. Any other company or companies that arise out of the defunct MTV PLC will be private concerns. When the administrator is finished he will report back that your shares have no intrinsic value therefore HMRC will allow them to be offset against gains made elsewhere. However as most of you are so wet under the ears (LIKE I INITIALLY WAS) when it comes to the AIM none of you will have captial gains to offset your MTV losses against. and I know that for a fact.

parkez - "i was wondering about the term "termination" and what it implied" It implies that the said person is no longer a director. Whether the term resigned or termination is used neither had any specifc meaning over the other. The company went into administration on 26/08/2016. Considering the company had tentacles all over the world and the administrators intentions to realise as much of the assets as possible for the secured creditors I would not expect the administrators to finish their work until late 2017. Only then will they be in a position to report there are no assets.

aka_bluepeter - "but like Parkez says a good deal warier now especially on Aim stocks" Why are you a good deal more wary. What is it you have learned. AIM companies fall over all the time. So what have you learned. I will tell you what you've learned for the first time and why MTV is so important in the education and understanding of the AIM. What you have learned here is that AIM companies can give the impression that they are a living and breathing entity when in reality they don't exist. This is the lesson I have taught you all here. MTV was not just surviving on PI money it was the manifestation of PI money. The company itself although a registered legal entity never existed. Anything that required it to proof it was a real entity failed to materialise. The deal with television broadcasters, the deal with MTN and the deal with the BBC over Freeview. All required real companies to endorse the existence of MTV as a trading concern. None did.

BRUS Anyone who has read Shukan's posts on BOS and FTE would know this is a man who suffers from hallucinations. However I for one do not believe his condition is so serious that he would post on a public bulletin board that he had attended a company AGM when in reality none actually took place. And that does not even take into account the serious FCA implications for posting on a public forum fictitious AGMs. When Shukan stated he attended the SILF AGM I believed him from the outset and never for one moment doubted a single word. My statement of "how the duck could you have attended" was meant as I have stated as a dig at the company and not me calling him a liar for making up an AGM story that can so easily be proven throught the RNS system. This is my last word on the subject.

BRUS Yes I did say that. For crying out loud how thick are you. I was highlighting a glaring contradiction. SILF held an AGM an ANNUAL GENERAL MEETING for its shareholders including its listed shareholders when it had not even been trading as a listed company for a year. That was the contradictory point. Please please please someone with an ounce of intelligence out there support me. At least tell me you can see where I'm coming from.

alligin I agree with everything you say and think you should be commended for your efforts. You see as a PI once you've bought shares in a company and hold you are dead in the water. The company makes no futher money out of you if you've stop buying. The company needs to attract new investors this is why new stock is always sold at a discount to the existing price. If DCP place new stock at 0.5p it can easily raise the required funding for there are millions of PIs out there that willingly and gladly to take a stake at a 75% discount to today's price. This game is all about fresh money not stale holders like your goodself. The only time you can do anything about it is at times like this when the company needs your support to raise fresh finance. This support always comes with the do or die threat. "You either support our proposals or lose the lot". Sometimes just sometimes you have to stand your ground.

N2015/cash2 Thank you both but I am fuily aware the company has had an AGM. Do you really think someone of my superior intelligence would be putting such a question to Shukan without checking my facts first. The point I was making was that you need to be wary of a company that holds an Annual General Meeting for its listing shareholders before the company has been listed for less than a year.

Interesting point about all the RNS annoucements. I for one do not believe they intend to merge or be taken over. They put themselves into a takeover postion which forces all those with one percent holdings either way to reveal who they are The company is then able to monitor the movements and actions of all stakeholders for a period of time. As soon as the resolutions are voted through they will announce they are no longer in an offer period. Seen all this nonsense about offer periods before EGMs before.

alligin - "no-one has kicked the idea into touch so far." No one has kicked the idea into touch so far out of respect for you. Unlike the rest of us you are actuallying trying to do something about this not just yakking. The reality of the situation is that a rights issue too expesive and time consumer. DCP pays about £200k per year in listing fees for the right to be able to issue shares as and when they deem necessary. What is required here is for DCP to revisit the terms being offered to Rasmala. From what i can see the resolutions amount to nothing more than an agreement to a SEDA (Death Spiral) fundingt over a shorter period of time normal. The funding arrangement doesn't allow for a fixed conversion price like say 2p it allows for a 30% to the prevailing price at the time. This is outrageous and detrimental to small PIs. The closing price today was 2.15p. 30% discount on that is 1.5p. The further the shareprice falls the further the conversion price falls but the higher the percentage holding of Rasmala. I do appreciate Rasamala are shareholders themselves but they are not the only shareholders small PIs are also shareholders. Small PIs are prepared to take haircut to protect their investments in the long term but the proposals put to them are unacceptable.

tozerk Focus on the company and its RNS statements. Don't be a twit like so many and ask why you here?. Whether my intentions are good or bad I will not determine the ultimate value of your investment in DCP. I'm not going touch on this subject again. Speak Later

einvestein It doesn't matter who holds the shares whether Rasmala or PIs the live issue here is at what price the conversion/new shares. We already know Rasmala have the right to convert at a 30% discount which is equivalent to 1.64p at Fridays close. If Majedie and others continue to sell between now and15/12/2016 goodness knows what price the conversion will take place at 0.5p? At 0.5p they could easily raise the required funding as there millions of PIs out there that would gladly mop the stock up. BUT WHAT ABOUT YOU AS AN EXISTING HOLDER.

jaf1948 - "Would you prefer to hold highly diluted shares with some value or lose everything ? This whole bloch discussion today basically comes down to that." No it does not come down to that. It is about standing up for your rights and what is yours. I for one do not believe DCP will carry out the threat of placing the company into receivership. The company legally has to be insolvent to be placed into receviership and not just short of cash. Unless I am mistaken I do believe the largest shareholder European Islamic Investment Bank plc with 11.43% holding is in fact Rasmala. If you accept the shareholders own the company then the company is effectedly indebted to itself of £400k. Whether £400k, £700k or £3.0m they are peanuts compared to commercial assets in the ground. DCP is a highly valued precious stones company fight for what is rightfully yours. As per all my previous posts these are just my personal views. Others will have different and opposing views.

einvestein - "whether we pi's vote yes or no wouldn't make any difference as more than 46% this share is held by ii's and directors." Where have you got this information from. The last update on the company website showed 86% of the shares were in public hands and 14% were not. The directors hold 2.56%. To issue the new shares at 2p the current share price for the days leading up to 15/12/2016 would have to be 2.87p as the agreement allows for Rasmala to receive shares at a 30% discount.

Inner-Harmony - "so ... last post here ... as you will most certainly be aware IOG SP is where is it due to 1. the prospective fields of Dornoch and Maureen being 'dry' and 2. an API of 11 on Skipper field - almost 'ultra heavy' oil - the CAPEX for which is un-economic in the current POO environment .." That is my whole point due to the lack of "economies of scale" the shareprice has halved on a series of poor results. There is no size to the company where it can operate profiably in the North Sea. Do you think the BP shareprice would plunge by 50% if it announce two dry wells and heavy oil at a third. IOG cannot operate profiably in the North Sea because of its lack of size, the cost of operating in the North Sea and the current low price of oil. The shareprice reflects this and it will start to return to the low teens next week. Before the year is out IOG share price will be in single figures. And you can hold me to that. This is the last post from me on the subject here.

Inner-Harmony With all due respect this is the DCP thread. If you make anymore comments about IOG or North Sea oil on it again I will report you. I note you have missed out the main statement I did make about IOG. I stated because of its lack of 'economies of scale' the share price was unsustainable and would collapse from the 30s back into the teens. Where is IOG shareprice today? Please do not reply here but on the IOG thread. Thanks in advance.

jaf1948 - "PL holds over 7.2m shares so would he be happy to wipe out his own holding ? Why did he not take the low offer and at least preserve some of his investment ?" I personally have never believed in AIM directors holding shares in their own companies as a sign they are commited to small PI shareholders. That is just my personal view. My comment about Majedie are justified. Below is a link to the Shareholder Information page. http://www.diamondcorp.plc.uk/investors-and-media/shareholder-information At 12/07/2016 or even 13/10/2016 if you prefer the later date Majedie had 43,871,088 shares. If you look at the RNS announcements you will note they only started selling down when the proposals for the financing were first announced and so have all the others. Conclusion The interim results clearly shows that production is moving up:- "The Company's current diamond inventory is 7,003 carats. It takes between 30 and 45 days for diamonds recovered to move from the mine to Antwerp and be sold. As a consequence, the October sale will be relatively small but monthly sales are expected to build up to the 9,000 carat base case in the budget by December. " Again this is my own personal view. As the mine moves into profitable commercial production forces will try to wrestle it from its rightful owners which are its PI shareholders. The Shareholder Information page shows as of 13/10/2016 86% of the shares are in public hands (which is you guys) the other 14% is not. The various dilutions to come will go a considerable way to reversing this trend. Is it a coincidence that as the company moves into commercial production all these operational and financial issues have surfaced ultimately threatening receivership. DiamondCorp is a valuable precious stones company. Try and hold onto your stake and the monetary value of your holdings. Speak Later.

tozerk - "What will the value of the company be when its producing regularly at commercial levels?" The value of the company will be multiples of what it is today that I am 100% certain of. The live issue for you as an existing small shareholder is not how many stones are coming out of the ground for you are never going to see a single one but to what extent the company is going to dilute your holdings to bring about commercial production. It is possible for the market cap to increase by a factor of 10 whist the value of your holding decreases by a factor of 10 due to repetitive dilution and discount share issues. Of the so called unacceptable proposals to the company I strongly suspect all have been higher than the current market cap but don't reflect the near term prospects and value of the assets in the ground. That's all well and good the directors refusing to under sell the company but not well good if your holdings are going to be wiped out to bring the company into commercial production. As is the case with so many of these AIM companies others end up as winners but not you. DCP is unique insomuch as it has a real near term commercial assets unlike most STAND FIRM.

That the company is going to prosper is not in any doubt. They have a real and valuable commercial asset. The live issue here is not the funding for that is a certainty but to what extent existing small PIs are going to make everybody else rich whilst being totally wiped out themselves. In one part of the RNS the directors said bids have been received but none were acceptable. Yet in another part of the RNS they state if the resolutions are not passed the company will file for receivership. WHAT THE FCK. Clearly if they had the slightest concern for all existing small PI shareholders an undervalued bid is preferably to handing the company and its diamond assets over to the receivers. Funding You are all mistaken if you think the purpose of the General Meeting was simply to allot shares to meet the £700k facility. The company has stated that it will need additional funding of £2.5m - £3.0m to bring the Lace mine to commercial production. In the event of a takeover, merger or external funding not forthcoming the company will seek shareholder approval to allot as many shares as required to meet its funding needs. Below is the said paragraph. "Consequently it is the Board's intention at the General Meeting to seek shareholders' approval to provide the Board with increased authorities to allot and issue further equity securities and to dis-apply statutory pre-emption rights in addition to those required for the purposes of the Facility. " Conclusion. There is going to be three lots of dilutive share issues. 1. Share issues to immediately pay back the £400k secured from Rasmala. 2. Share issues to access the remainder £300k facility from Rasmala. 3. Share issues to meet the £3.0m funding requirement. The agreeement if it goes through gives Rasmala the right to convert at a 30% discount to the prevailing shareprice. Here is the said paragraph. "The Facility shall terminate and becomes repayable on 15 December 2016 and is convertible, at Rasmala's option and subject to Rasmala giving written notice to the Company, into Ordinary Shares on 15 December 2016 (or earlier in certain circumstances as detailed below) at the equivalent of a 30 per cent. discount..." The closing price on Friday 27th October 2016 was 2.35p. 30% below that is 1.64p. This is assuming the share price does not go any lower between now and 15/12/2016. Do you see why Majedie and others are clearing out. You see as far as the existing directors and funders are concerned existing PI dilution is the best option. Its all free money at no risk to themselves or the company. As PIs we are never in a postion of strength but sometimes even at the risk of loss you have to stand your ground at the level treatment we receive from AIM listed companies. VOTE NO. The above is just my personal interpretation of the RNS and events no doubt some of you will have a different or opposing view.