Member Info for Castaway

If you want to get an idea what a small kimberlite in that area can be worth see the following pdf of Marsfontein:

https://www.thediamondloupe.com/sites/awdcnewswall/files/attachments/marsfonteincasehistppt2005-190228162000.pdf

The financials are from page 25 and are impressive to say the least!

Also Vutomi the jv partner on Thorny River pay the bulk of the drilling costs BOD are still a junior partner with a right to about 70% of the project eventually (from memory) - BOD have paid cash and given Vutomi shares - it's all in the RNS from late 2016

I bought in last October (ish), for several reasons:

1) IPO price was a realistic value, and it was over 70p.
2)I can understand why the s/p dropped to a low of 8.5p due to many of the original shareholders from pre IPO selling as they were in decent profit and had wanted a liquidity event to make some money from a 10 year (ish) investment .
3)The asset is probably the best Vanadium play on the planet by size and production cost.
4)Battery metals are in vogue

From my initial research I thought FAR would go to 70p+ this year. This is IMO confirmed yesterday's RNS .

There will be no need to raise prior to DFS and I am sure Sir Mick will be able to raise the piddling $100 mil for phase 1 which will be paid back in 12 months (stated by CEO).

I understand why the s/p was >10p but I also see why this was a crazy valuation. I am amazed how quickly the s/p has risen, but there is way more to go also.

Yes I think this will be a good year for BOD - Thorny River results near term and I am sure Burgundy will not be messing around for too long before they start exploring the BOD licences. JC has been all over the place recently (in Botswana/SA/Zimbabwe) and I know travelling is difficult in southern Africa right now due to Covid restrictions - he must have travelled for a good reason.

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.