Member Info for BobZim

Thank you for your email below, I have now taken the opportunity to look into this further. You will note from recent news that BP is expected to be placed into administration, imminently. As such, a moratorium will be put in place that prohibits any legal action being taken. In addition, due to recent adverse publicity, were there to be a sale of BP’s business and/or assets, we would expect that this would be at a significant discount. I believe that we will know more about this over the coming days, as the position crystalizes. As you will be aware, in order to pursue such litigation, there will be significant costs involved. For that reason, we have held preliminary conversations with contacts in the legal funding industry: although it appears that there is no litigation currently being brought in this area, that does not mean that actions may not be brought in the future. (However, we are likely to be required to provide concrete evidence that BP’s actions created demonstrable and measurable negative effects on the Company). As you are aware, at present, the Company has no physical assets and the Joint Administrators are waiting for any potential realisations to flow from the future sale of Lace Diamond Mine, which is currently under business rescue procedures within South Africa. The quantum and timing of any future realisations remain uncertain at present. For all the reasons stated above, we do not believe that there will be any commercial benefit in pursuing legal action, at present. Please let me know, should you have any questions regarding the above. Yours sincerely For and on behalf of the Company Becky Withington For S Cork Joint Administrator

DiamondCorp Plc – In Administration (“the Company”) Thank you for your email, I apologise for the delay in responding. Given the level of indebtedness, I can confirm there will be no return to the Company’s shareholders. Any shares presently held are, therefore, of nil value. You should seek independent tax advice with regard to the available losses and the appropriate timing for writing down. Should you have any queries, please do not hesitate to contact me. Yours sincerely For and on behalf of the Company Becky Withington For S Cork Joint Administrator

...Becky acknowledged my email yesterday; saying she will reply in due course etc. I will keep you posted. Enjoy those last few precious hours...! ATB

... BeckyWithington@corkgully.com She replied to my initial email concerning tax matters; but is yet to reply - or acknowledge - my last missive. I would hope that a fair few have been in contact with CG, it seemed the natural thing to do for me. I guess some may just wish to "forget" and move on, and see no benefit in lingering over a dead carcass! Cheers

...and BP will struggle to survive; key clients are running for the hills! I have written to Cork Gully today expressing my deep seated concerns. I also asked for their considered opinion re the possibility of legal recourse. I will keep you posted. Just a thought, if we ever lose this LSE comms link, my private email address is johncknowles@yahoo.com Now try and switch off and enjoy a few beers.... having successfully escaped the asylum... albeit for only a few weeks!? Cheers BZ

...any "news" Valency? Thanks as always....BZ

Hi Valency. As always a very informative post. I believe Bell was Mrs Thatchers "right hand man" in days gone by? Its all so desperately sad. I have lost an arm and leg......like so many others Im afraid. Cork Gully confirmed to me today that the shareholders will receive nowt' as DCP are so heavily indebted, hence for tax purposes of "no value"! Lets hope BellP are forced into full disclosure and light shines into all corners of their nasty crimes. ATB

...for the link to Companies House, and the DCP filing history. The administrators report offers grim reading. My interpretation is that we [shareholders] are stuffed. I also note that "preferred creditors" are being told that there will be insufficient funds to distribute. I will contact CorkGully [beckywithington@corkgully.com] to receive formal confirmation etc. The end is nigh....

....as you Jaf - unfortunately! I honestly thought I was a half decent judge of people, and having attended all AGM/s EGM's GM's etc this past few years, I really do struggle to believe that PL - and the new Chairman - would shaft us in a pre-meditated and callous fashion. That said, the silence is deafening, and my glass half-full attitude, is almost running on empty !?!

Banksman....another for your list Name - BobZim, Education - Leicester University 1978, Status - Retired [north London] Reading then - Geophysics Reading now - The Art of the Investment !!

....hopefully the immediate termination of all employment contracts will provide our friends at AMCU with one final look at reality - and final chance to secure a compromise - is the way I read it. Or is my glass now actually half empty and my natural optimism should be slowly seeping away? I sincerely hope that this is one last throw of the dice - via public humiliation of AMCU - to sort this mess! I guess straws are being clutched!

....they say - although I am beginning to fear the worst. Hindsight is a wonderful thing! No words from Valency for a week or two - always a reliable and fair minded source of positivity. I [we] need a dose of your reassurance!

....to clutch at? Undoubtedly todays RNS is grim reading. But I do think there is an element of naming and shaming AMCU in the full glare of the public domain. Will that change their posture ? Who knows. AMCU are capable of shooting themselves in the foot no doubt! I also sense a hint of a political stand-off between Deloitte and IDC? Deloitte will be proposing something unpalatable to IDC - and stressing the only other option is Administration. Take your medicine. If there are political tensions and posturing at play, then complexions can change quickly. One vg reason why this stock is suspended right now! If Administration is the outcome - clearly nobody wins. Finally, I understand that discussions are taking place at the "very top" of IDC and AMCU - and that DCP have all hands to the pumps to try and resolve this mess. Was todays RNS a draft obituary? Or will my [diminishing] optimism finally pull through?

T123 - your straight talking does not offend; it simply does not chime entirely/perfectly with what I heard and sensed in the same meeting. Just curious - Did you ask any questions at the meeting? Or discuss your thoughts [after the close - more informally] with the parties represented? Lets see what transpires. Perhaps next time we should introduce ourselves - go for a beer - and agree our respective conclusions?!

I attended todays meeting. I met with Alligin [how I have been christened "small caps" is a mystery?!]. It was I that was rather robust and direct with CE as it was I that PL "comforted" 6 months ago at the last AGM re the small matter of funding etc.....and regrettably reported that [good news] back to this board. CE came across very well in my view. Thoughtful - considered - thorough - inquisitive. He gave me the distinct impression that the mindset, approach, culture of the BOD would [and must] change - a natural consequence - as these new faces bring their individuality and "styles" to bear. Alligin has summarised well. The central message and underlying theme was loud and clear - we are in the last chance saloon - lessons MUST be learnt - we should not exit this suspension period without a coherent, robust, fully funded, realistic, operational plan that would not be derailed by minor hiccups, bumps in the road etc. I left the meeting mildly heartened by what I had heard from CE. Perhaps there is a glimmer of hope?

Just wondering what kind of average these guys are sitting on? 5p ish? And hence their target price? Or they just want rid / at the end of their tether?

Traderman.....I know my contact details were passed onto EW last Thursday morning. No call as yet. So I guess they are blessed with options? We urgently need an FD and Chairman conditional to long term funding.

Am not as depressed as I thought I might be! Lets hope these "advanced negotiations" are concluded rapidly and successfully......it is the only way out! And with an increased "asset base" as postulated......who knows we may re-visit the dizzy heights of 5p in the coming months!!!!

spike501 - thanks for the input. Am intrigued by your dismissal of both options as "highly unlikely". What else can they do to help their current plight? Do you feel Apollo will continue to work constructively with Caza in the medium term [I am told they have been to date]? Cheers

jmr1980 - Thanks for your MGW views.....I wonder if he has met Caza in the UK yet? That was what he said was on the cards shortly after his return from Houston....or was he merely buying time? I hope not. I do find him credible on the whole but he appears to have gone awol re Caza?