Member Info for daramuda

It is worth studying the detail of the resolutions which are on the company's website. You will see that the directors are seeking authority to issue up to about 16 million new shares after completion of the current deal. That would give room for another deal should the opportunity arise.

and hopefully more news today following the EGM meeting at the broker's offices from anyone who attends.

I personally do not think that there is any conspiracy. If one buys at a price that the computer thinks could be a sale then the trade will show as a sell. I do not think that that fact is as a result of bad faith on the part of an MM. Do you want to go back to paper transactions which would only by the very nature o the same lead to a distortion in reporting? imo DJI is that if the board deliver, investors should do very well. What is nice t present is that hordes have not realised what a money spinner the company could be but in 2017. Also provided that a purchaser kept Mr Mercer on a consultancy (very well paid) the company could be taken out.

First things first. Meeting to authorise the issue the further shares (second part of the placing) on Monday at the brokers premises in London instead of Knutsford. Mercer should be there; I hope the chairman is also present. It will be interesting to see who else. After that two things to come: in no particular order the lifting of the suspension and the Nasdaq listing. A third possibility is whether there will be other deals.

Today's Daily Mail's Stock Watch names DJI.

Unfortunately the price of nickel started to come back down last week.

Your estimated price is feasible but there are plenty of hurdles to cross first. Do not think for one moment that I am being pessimistic but it is wise to keep the feet on the ground. A Nasdaq listing should release American money into the stock but it has to be an attractive listing and it must succeed for there to be an ongoing fillip for the LSE market. A lifting of the suspension of online lottery gambling (because that is what it is) will do good for turnover but then the DJI board have been wise to look at other areas where their platform can go to work and it is arguable that those areas have overtaken online lotteries as the main area of growth - other companies reliant on online lottery gambling who have not diversified have not benefitted like DJI. But above all the platform which is key to delivery (and I understand is reliable which has led to the recent deals) must continue to stand up to volume. We do not want another company with a more reliable platform pushing in. There will also be pauses with the advance of the share price of the stock. But 2 billion? Yes - a possibility. I put that at £12.5 per share but then who cares at that level? But I am not chasing the stock although I have added since we since exchanged views. GL.

I have some dividend earning stocks but also two AIM stocks in which I have more confidence that the board will deliver me good returns than the board of SRL that I wil see a return with SRL. One is a miner Berkeley Energia where the resource of uranium is of good quality and sizeable. The company is drilling for more. A DFS is due and the company will then imo conclude investment from a strategic partner plus do off take deals and get the finance to build the mine. Unlike Sisay, the CEO is continually promoting the company and the chairman turned a company, named Mantra which was not worth that much into a company which he sold for the benefit of shareholders for half a billion pounds. They want a return for themselves plus for ordinary shareholders (pis). The other company is a non miner DJI Holdings. Here the board of the company is exercising skill and connections and thus doing deals and bringing about returns. They have a proven platform. The share price is responding accordingly. What does Sisay do? In my view besides managing the workforce and being someone born in Sierra Leone,Sisay appears to do nothing. He does not promote the company and as I see it does nothing for ordinary shareholders. The recent placing was a placing for the benefit "of the boys". Ordinary private investors some of whom have been invested for years were deliberately excluded At least the easy options have stopped where recipients could cash them in at levels below exercise prices. It is a great shame that the company is housed away from the UK otherwise there would be an argument that QCA (corporate governance as summarised by Harbottle and Lewis soliciotors might be capable of being invoked. One of the QCA recommendations (and they are available on google) advocates good communication with shareholders. Have any of you tried emailing Sisay? I have emailed him and never had a reply to sensible questions. What a shame that there is not a collective 5% of shares that we can get together; otherwise we could call an egm and invite the removal of one or more members of the board and seek the appointment of someone aligned to private investors. The resolution would of course be voted down but it could cause a stir in the media.

I agree with you. Sisay told me that they were wanting to widen the shareholder base via an IPO and get the price up and move to the main market. By strangling the available shares available Pala have appeared to have depressed the price which is a point that Gibraltar was mentioning on more than one occasion over the past 6 months.

Not sure that I got the figure right yesterday evening.There are now 596 million shares issued so that 1% = 5.96million If they moved down through a 1% they should notify the company. If it is not Pala shedding the stock it must be another ii. The buys and sells are not being left to the market but are being agreed off market. Pala have hitherto been very good at reporting movements in their %. Sorry to confuse.

Pala crossed 294 million to 318 million on their last announcement unless I have it wrong. A sale of say 10 million would not need a statement as I read it if I am right.

I reckon that Pala have so far shed somewhere between 9m and 10m of the 23.75m they took on the placing. More to go? And if they are then over when will the brakes come off? When Gangama is commissioned or when Q 2 figures are released either before or just after the AGM? I agree with Gibraltar that the endgame is in sight. I am hopeful that, through that endgame, private investors will get their reward. In the meantime Pala can get a return on their share of the placing for which they were the lead investor.

I am not in Gibraltar's league with these but I have quite a few. Do not quite understand your post but ten.......A lot more shuffling today. If I am right and I may well not be and Pala are offloading their placement shares for a decent turn (and good luck to them) there is clearly a demand for the stock. We know that the placing was over-subscribed.

Yes - I am again guessing but it seems that the dealers have little stock so that if sellers dry up noticing that things maybe about to happen this year, any decent buys will move the sp up. Deals between iis off market so to speak will do little to move the price.

I had fully understood that you had spoken to someone at the company!! Whilst I speculate, I believe that Pala have turned another 500,000 placing shares.

I a not with you n that point. Two points. 1. The SRL turnover for the period that you describe did not imo reflect or impact on the price which fell. 2. There was a market correction which some might argue resulted from the price reaching the top of the cycle. Yes SRL want a stable market and there I agree with you but they would not keep talking about a hoped for increase in the sale price if they would not welcome it. With costs of mining at SRL so well under control and due when Gangama starts production to fall further, an increase in the sales price will do a great deal or profits. reckon the increase has stared albeit by a bit to lead to the latest announcement of fresh sales (my language). As Gibraltar1 has said those privy to the reasons and whys leading up to the placing know something that we humble folk do not know.

Reducing costs will improve margins but so will increasing sales prices. I do not believe that an increasing sale price for SRL rutile, given its very high quality, will drive purchasers, requiring quality rutile for their products, to buy substitute feedstock of an inferior quality. Pala will not sell down cheaply, save for the stock that they picked up in the placing which they can turn for a profit. Pala imo want a decent price for the 50% stock that they held prior to the placing and a higher sales price will help drive profits and thus the share price and enable them to sell the whole or a part of their stake for a much higher figure.

Reducing costs will improve margins but so will increasing sales prices. I do not believe that an increasing sale price for SRL rutile, given its very high quality, will drive purchasers, requiring quality rutile for their products, to buy substitute feedstock of an inferior quality. Pala will not sell down cheaply, save for the stock that they picked up in the placing which they can turn for a profit. Pala imo want a decent price for the 50% stock that they held prior to the placing and a higher sales price will help drive profits and thus the share price and enable them to sell the whole or a part of their stake for a much higher figure.

Reducing costs will improve margins but so will increasing sales prices. I do not believe that an increasing sale price for SRL rutile, given its very high quality, will drive purchasers, requiring quality rutile for their products, to buy substitute feedstock of an inferior quality. Pala will not sell down cheaply, save for the stock that they picked up in the placing which they can turn for a profit. Pala imo want a decent price for the 50% stock that they held prior to the placing and a higher sales price will help drive profits and thus the share price and enable them to sell the whole or a part of their stake for a much higher figure.

I was only teasing but.......could you explain what you meant by "so unless new shoot the lights out numbers...." - I fear something got lost. As it is someone who is in the mining business told me that he thought that Pala might effect a trade sale. He felt 2X their average investment which I put at between 15 and 18 pence for the cost of the investment and expertise given plus profit.