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Echo, your not alone in your view - the s/p tells the story. As a long term shareholder, I agree with you. The market for diamonds has been poor for a while, but it is cyclic and Burgundy are buying everything in southern Africa by the looks of things. I believe today's RNS is highly significant. BOD could never develop all their licences without a wealthy partner and now they have it. This years drilling season in Africa is nearly here, so if they want to do anything on the licence areas this year they will have to move fairly quickly. Fingers crossed!
This is what BOD needed, a JV to progress the amazing assets held towards mining and a return for shareholders. The company at the top is Burgundy and they look to be a perfect partner for BOD - https://www.burgundy-diamonds.com/vision
When a company IPO's " Initial Public Offering"(as Portage is), there is dilution of existing shareholders as shares are issued on the IPO to the market (to raise capital) - Hence the decrease in the shs held by FFWD - FFWD have not sold shs they have been diluted. The shares FFWD have will have increased in value however even though the proportion compared with the total has dropped.
If FFWD sell an asset they have to inform their shareholders
I was invested in Angel mining when they tried to build a gold mine and processing plant at Nalunaq. They didn't have the cash reserves AEX have or the buoyant gold price. No One should underestimate the difficulty (and expense!) of building this project in the middle of nowhere that is frozen a lot of the year. It would be impossible this year due to CV and also transport costs have increased by up to 10 times, hopefully next year they will have dropped. I only noticed AEX today and will look on with interest for now. GLA
Ditto
They only need $100mil to get the main project mining - that is not a lot of cash when compared with the NAV and it will be repaid out of FCF within a year according to the CEO - IMO they will get an offtake or some other form/mix of funding to do the full mine and if they do the s/p will be a few quid in a couple of years and 50p+ on that sort of news
Why March?
It is an amazing deal, with perfect synergy with the other kalahari assets and it has cost practically nothing - the potential of BOD is off the scale. we just need some value added to one of the assets to start a move up. Marsfontein should do that soon hopefully.
James Campbell is one of the most experienced and successful diamond exploration experts in southern Africa. The assets BOD hold are world class - we just need some of these assets to reach a stage where value is added. They are potentially worth $bn's - Mars is the start then on to Botswana and the off the scale kalahari assets - probably the most prospective in the world.
https://www.youtube.com/watch?v=V8Ks9fUh2k8
This Doctor explains the study
gemstar, I see Mark Mabhudhu's move to ZCDC as good, ZCDC are responsible for the diamond JV's in Zim.
I am still holding many VAST shares BTW and unlike some of the clueless trolls who infest this BB remain very positive!
buko, I thought you would have known the difference between a transfer between accounts/roll and two sells -if someone had sold 134mil or £215k worth of stock, do you think they would have got over .16? and the s/p would have held over .16 ?
You criticize others - but look at yourself first!
See the holding RNS Edale increased by 100k shs - sure it was a sall now David? ;-)
I think it was a print of a buyer, a MM has been accumulating for a few days and filled an order. If it was a sell of that quantity the s/p would have dropped not gone up.
The buying pressure dropped a bit yesterday as the buyer had finished IMO.
The plan is to increase ROM to 1 mil tonnes by end of 2020, costs should already be reduced as the CPHT has increased to 5.1 from 3. There should be a steady increase in production and profit for the next year hopefully. Recent podcast and presentation from July - good progress has already been made since these.
https://www.bluerockdiamonds.co.uk/assets/corporate-presentation-20-07-2020-d1.pdf
https://www.bluerockdiamonds.co.uk/assets/gmt20200720-130115_bluerock-s.m4a
Production building up to 1mil tonnes per year, latest grades 5.1 CPHT, costs currently around $200 per carat, but that is due to drop significantly with higher grades and the nes power supply from the grid early next year.
The forecast ROM for 2021 is 1 mil tonnes per annum at grades of 5.1 CPHT and average sale value in excess of $400 per carat and costs under $190 per carat - therefor 1,000,000/100 = 10,000*5.1*(400-190=210) = $10.7 mil gross = £8.33 mil Potentially way more FCF than current MC (currently about £5.4 mil) .
All the funds are available after the placing to achieve this - IMO if BRD produce on their model then £2-3 is on next year.
https://www.lse.co.uk/rns/BRD/holdings-in-company-c35ptcnhx2t57mg.html
With regard to the FCA, you have to remember you/us as shareholders own the company, if you have a problem with the way your company is run then you have to deal with it, GM coming up - you have a vote use it! - the FCA is to ensure that legal due process is maintained and whilst it appears to you it is not, it probably is. Although a few posters on this forum seem to hate me because I have been positive about VAST if you look at my posts I have always been honest and backed up my posts with facts. I have been endlessly misquoted by several posters who just seem to like attacking me with little reason other than I see the potential.
My position is to back the company I am invested in and I continue to do that with VAST, I was not comfortable with the Atlas deal and several other decisions that have been made. The bridge failure should have been foreseen with the time VAST has had to prepare the mine for production.
Though I may not openly criticize the company, I make my opinion known to the relevant directors as I did when RP was CEO.
I backed AP as CEO for many reasons, I have not always agreed with his decisions, but if you back someone you have to let them the freedom to forge their own way. AP inherited a company on the verge of either administration or being taken private. VAST has a complex history which very few know - all the current assets have been brought to the company by AP and whilst he may not be the greatest CEO on AIM he has been vilified way too much IMO. IMO we will get the funding from the tier 1 bank and it is a game changer for VAST, IMO it will be about Romanian infrastructure etc. and boosting the Romanian economy. If VAST delivers this then we will get the Remin mines and that is pandora's box - $billions worth of assets. I also think we will get diamond assets in Zim eventually.
I do not post much here as I do not wish to get into personal attacks, it's pointless, though some on this BB seem to get off on it!
Anyway I hope this is the bottom s/p wise, if you look at the potential VAST is a great investment right now - just ignore the current s/p, it should be up soon if there are no more snags!
Also we have the enhanced CPR due any time, they have hinted that the licence area contains much more kimberlite than has been announced thus far.