Member Info for discopablo

No problem. Also remember that the auditors will be sceptical and so the book value per the accounts might not end up being what the proceeds are.

Yes absolutely, provided the auditors were satisfied that:

A) future benefits would arise from ownership,

B) the asset was definitely owned,

C) the value could be measured reliably.

You'd like to think all these tests were passed.

Just a thought....

Although company year end is 30 April, audit report deadline is 31 October I believe. Auditors are interested in going concern assurances as at date of balance sheet (30 april) AND as at date of audit report. Usually the audit report for this company is signed off pretty close to the deadline date of 31 October. Perhaps the auditors needed to see the cash (or at least firm promise of some cash before 31 Oct and some after) before they felt comfortable signing off the accounts as a going concern.

If that is the case, then due to diamond sales being after the 31 October accounts filing date, AP might have been boxed into using the only possible route of getting cash from a placement.

The fact that he's had to resort to this if the above is true leaves a little to be desired from a time keeping perspective (!) but the flip side is also that we should have confidence that such a large raise was able to take place.

Just my musings, as an ex-auditor of 15 years.

AmyStake at 10.54 - probably the most sensible post of the day.

I'm with you Joey, if you ignore the share price impact ha.

A placing was clearly coming since we fell into the 20s. At least now we know. I'm just a bit gobsmacked by the number and price, but at least the info is out now.

How much are they worth Goldielock?

In the interests of balance, we could do with an update though even if it's just an update on the benefication process.

Looks like 3.25m sold and 29m bought today.

Buys outweigh sells by such a large amount today that it's difficult to see the drop in recent days as anything other than MM manipulation.

Still a large fall compared to the value of trades/ sells. Only on AIM.

Dividend announcement can't be far off.

Good luck guys - happy to get out of here today for over 29.

I would tend to agree with the last post on here. Really good analysis from Oak Bloke and I don't mind saying I bought 40k more yesterday.

Director dealings is not the be all and end all either. I can't see us dropping much lower than this. Cost control seems very good and net cash was 73m, more than current mcap.

Certainly seems that way. Not as if it's losses going forward, 'just' a hit to revenue and GM.

Net assets still around 200m, plenty of cash.

Just sold the last 100k of mine at 29.88. I used to trade this one between 30 and 33, but am not sure how the results are going to look so figured I'd get out now with a 4 figure profit. Good luck to you all, will be back at some point. I usually call it wrong so don't sell!!

Mcap now appears to be the same as adjusted net cash so the drop looks overdone to me. Only been watching for a few weeks though. Bought in at 31.

Can't see this happening any time soon and also in my opinion it would not be a good use of cash at the moment.

Pretty unlikely given 1.6m quid has been raised in the last 3 or 4 weeks through warrants exercise.

Agreed, just got another 3 million. Rude not to at .41 and .4098.

I don't think you'll be waiting too long before you hit your buy in price. Too much good stuff around the corner now and plenty of cash in the bank following the exercise of the warrants.