Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
There were a few buys coming in after the RNS, but it was "only" a single $70k stone, the last big one was 12 carats and worth $100k+
To me this shows good progress, larger stones are being found as expected. What the market wants is proof the company is now profitable and that should be clear soon, hopefully Q3 production will be announced soon and that will probably be a game changer if all the hints coming from the BoD are correct - 5 cpht, larger stones, increased ROM of kimberlite and not mixed with overburden.
All looking very good IMO.
I hope the BoD have something good to announce soon. I am getting a bit tired of 6 monthly placings at the same level. The company needs to get a project to the point shareholders get some value on their investment. Marsfontein should deliver that - shame it has been delayed due to covid, (bit like BlueRock) but it looks good for the future IF James C can deliver a project to the point a JV or sale can be achieved. I am positive about BOD, the assets are so undervalued and diamond prices recovering - good time to buy (as I did today).
The good point about the placing is that it went to directors and those close to them - so there won't be any flipping I hope.
The MC is only around £4mil, cash in bank was around £2.4 mil in July - I think the s/p is probably a bit low ;-)
Agreed perroverde, should be the start of some very positive newsflow over the autumn,.
I seem to recall they stated they are making a profit stringer and have been since the start of Q2 last financial year - just unlucky with CV-19 this year - not saying the previous management didn't mess up but....
They are very excited about the future - they just don't sound it :-) http://www.bluerockdiamonds.co.uk/assets/GMT20200720-130115_BlueRock-S.m4a
I think they are being conservative and you can understand why, but it only needs one big stone or actually delivering on production targets and BRD will multibag - I am prepared to take the risk, they seem to be a safe BoD now.
Just doing some research on the Roper Bar Iron Ore Project held by Nathan River Resources (NRR) - AMC will acquire 19% on conversion of LN's in NRR.
From the following article dated Sept 18, 2012: https://www.reuters.com/article/us-westerndesert-resources/chinas-meijin-bids-457-million-for-australia-miner-western-desert-idUSBRE88H06420120918
China’s Meijin Energy Group has bid A$435 million ($457 million) for diversified miner Western Desert Resources Ltd the original, and now bust owner of the Roper bar mine, it was their only asset. 19% of that is $86 mil - not bad for a $4.67 mil investment!
Drop overdone IMO
Hi Capricorn - good plan re. the Chancellor, the FCA are not fit for purpose IMO - why the put SVS into admin over some of their funds investment policy is impossible to understand baring in mind all their clients who have had no access to their funds for a year - they signed ITI off for this and ITI are not fit to take on the SVS client base as we are a month on from handover and still no access! - I think Leonard Curtis are giving you a load of rubbish - many brokers would have taken delighted on all SVS clients - makes you wonder why they picked ITI who have no operational brokerage in the UK (to date!). The whole process sinks from start to finish IMO.
CV-19 not 10 - another thing I feel leeds to illiquidity is the stupid consolidation they did , it should be 3.8p not 38p - put's AIM punters off if they have to pay up for shares IMO.
The BoD is also clueless about PR and interview like several corpses at a wake - sorry if you read this BoD, but try to get a bit of excitement in your podcasts please!
I do think they are doing all the right things though and I have been seriously buying this year.
Mr Nation, the share has tanked due to poor management in the past and some bad luck this year with CV-10 However I believe BRD has turned the corner and later this year the s/p will move up significantly. There are many (if not most?) shareholders at a significant loss (the s/p in 2015 was an equivalent of £165.00 per share, that is significant even by AIM standards!).
There are many just wanting out and until the company delivers on something substantial will feel the same way IMO.
If they do deliver what they are aiming at 100mil tonnes per annum by 2021 at 4.5cpht and cost of $190 and sale value of $400 a carat by early next year then gross profit for 2020 should be around $9mil - so with a current MC of just under £3.5 mil BRD is a very strong buy for me.
There will be a significant increase in reserves of ore announced in Q3 and sale of some large stones, it may take a few months but by middle of next year (if they do what they say!) the the s/p should be at least (even in SA) 3X gross profit so $18 mil or £14 mil or 4p s/p ish - could be higher, or a lot lower of course - that's the judgement you make buying shs.
Capricorn I have had an SVS account since around 2011 - I opened a Beaufort account a couple of years after that - I like to keep a few accounts for the very reason we are discussing - I just picked the wrong two. I also use IG and Spreadex.
I have heard ITI are going to allow trading next week and a friend has actually sold stock and been paid by ITI - so it should happen soon - I decided it was better to wait for ITI to open properly so I don't miss out on opportunities that I may miss if I transfer - though I could have sold some stocks at multiples of their current value had SVS remained trading - I am very unhappy with the whole process inc. the FCA/the administrators and ITI - all totally useless!
Sorry for the OT posts will stick to BRD now
I didn't state VAST was a mic cap, I was stating VAST is way undervalued. The company may be a mid cap in a few years with Remin mines, Zagra, Blueberry, Marange, Carlibaba. The potential is massive and VAST has copper, gold, silver, zinc, lead , molybdenum .
Way undervalued - look to the future.
There seems to be a lot of talk about a placing next week - I understand this after 3 placings in 3 months which I admit was not the apogee of the VAST BOD's tenure.
However the company have stated they have enough cash through to first sales and I don't see why not.
After 6 years of owning BP VAST is finally ready for first ore sales in early September , I for one (who have been invested in VAST from before BP acquisition) am excited.
For a company going into production with a mine worth at least $60 mil (to VAST) the MC of around £24 mil would seem low - add in the other assets and it seems even lower - there are of course the usual suspects deramping this VAST as per usual and I'm as usual positive , for one reason only, the assets VAST holds are world class.
Even Fantasy thought the MC at £31 mil was cheap before we got the BP licence. To quote Fantasy, he said in April 2018 that "In nutshell - Vast shares are worth 1.28p each without BP licence... told this before, UNDERVALUED is an understatement... bonkers" - we all know Fantasy is correct about all things - so why is he deramping VAST at an MC of £24 mil?
I learn two things from this, VAST is cheap according to both me and Fantasy and Fantasy is a complete hypocrite.
VAST is a strong buy IMO MC $60 mil on BP alone is low, that is £47 mil, current MC about £24 mil.
Hello Capricorn I have been in the same situation as you with Beaufort and now for my sins SVS - the Beaufort administration seemed to completed in around 6 months and there was a seamless t/f to some good broker, with SVS it is not far off a year and the brokers they picked to t/f shs/cash to are not prepared or even up and running as of today - we were assured we would be trading (or able to access our cash) 2 weeks ago with the new broker ITI Capital. I think it may take a week or so to t/f your holdings to another broker as ITI seem ill prepared. The whole ITI platform is being built before my eyes, I log on every day and a little bit more is done. Apparently ITI will be tradeable by middle of next week so fingers crossed - the whole SVS debacle should be looked into why the FCA had to deny thousands of small private investors of their funds for nearly a year due to some irregularities with some funds SVS managed is beyond me. I doubt complaining will help but when I do eventually get my investments back they will be getting a very long tirade by email from me!
Good luck with your transfer.
They are aiming for 1mil tonnes production per annum by the end of 2020 if you extrapolate the revenues based on expected costs per carat for 2021 of $190 and rvalue of around $400 per carat and grades of 4.4 CPHT you get around $9mil gross profit - the build up to that has been going on since restart of mining following lock down fe CV-19 in early May. The BoD seem to struggle with PR, the figures will win out despite this.
Should the irony of this be lost on you the current MC with BP in production is around £25 mil - so even you must think VAST is undervalued!
This is your post on 23 April 2018
"BH flashnote says it all..
Current MC - ?31m
Enterprises Value - ?66m
In nutshell - Vast shares are worth 1.28p each without BP licence... told this before, UNDERVALUED is an understatement... bonkers..."
Oh how you have changed, pot calling the kettle black - except I always back my s/p potential posts with facts. - lost money have you? - AIM is like that - VAST has great assets and will come good, but you have been ****ging it off for nearly 2 years .
I have had many problems with VAST over the years, but the assets are good and AP will deliver them - that is why I am positive and still have many shs - sure I sell some on the highs and buy on the lows. If you still hold shs why do you consistently dis VAST? - you seem to have a problem old boy - you love trolling people who are positive - well if it gives you a thrill go ahead, but I'm in it for the investment.
rotten - you said "People have suggested before AP only tends to pump out the news when a raise is due. Given the fat we are producing it feels like something is amiss." - so according to you robbie AP not pumping is good then?, yet you say it is bad? . Stated in the last RNS updates regarding mining will be made over social media - looks like they are mining to me from video 24 July https://www.youtube.com/watch?v=B_6FEwXjI7Y&feature=youtu.be First concentrate sales due end of August, refinance soon after IMO GLA
I can understand the negative sentiment, however there are many positives going forward.
Namely:
Current MC just over £3mil with £2.4 mil in bank (Debt - £925 LN 50% maturing Oct 2021 then the rest Oct 2022) - fully funded for the expansion of production by the end of 2020 and already profitable with costs reducing and production up. Recovery of diamonds from 70 to 90%
Production target for 2021 is 1 million tonnes and 45,000 carats at a potential sale price of $400 per carat, cost $190 per carat, so potential gross profit around $9 mil per annum for 2021 and beyond.
CPR of mine due to be expanded "significantly" in Q3 - they think there is a lot more mineable Kimberlite than current CPR.
Diamond sale due in September inc several large stones with potential value up to $100k each.
Diamond sales hedged to achieve maximum price when the market recovers.
Likelihood of large high quality stones increasing as they get deeper into the pipes and up production - everyone likes a big spivvy diamond!
If the BoD delivers even half the projected production/profit then BRD will be worth many multiples of the current MC/SP - so huge upside from here IMO.
The way the company has been run in the past was obviously poor, but IMO they are getting it right now GLA.