Member Info for Disruptor

I note that Binvic (Pty) Ltd was appointed on the 21st May 2021 as project managers to assist Gus Simba. Gus resigned recently and Binvic somehow managed to bill BRD £579,514 over a 10 month period. Nice work if you can get it!

Hi mil09,
I echo your post 100%. The present setup is too incestuous what with Houston having a 10% share in one of Teichmann’s subsidiaries. We have yet to be told the reason for the DMRE stopping all production at the mine in November. My feeling is that Gus has been made a scapegoat for whatever occurred but we, the shareholders will never know. I would have thought by now that we would have been granted an Export Licence which would allow us to sell our rough diamonds on a weekly basis in `Antwerp.

I noticed that there was no reason given for the closure of the mine by the DMRE on the 19th November. Surely the shareholders should be told the reason for the closure. I wonder if there is any connection between today’s announcement about staff departure and the mine closing.

Just noticed that they have not even updated the site from 2021 to 2022. Worse than useless!!

Just watch to see how long it takes for this underwhelming RNS to be posted on Bluerock’s own website.

Got this instinct that the year end results will be better than expected. As for next year - barring another lockdown for whatever reason, I expect to see that the board’S expectations exceeded.

I hope that the present BOD are better informed than Bluerock’s own Home Page. In spite of the announcement that UBS have acquired a 5%+ shareholding, the home page has not been updated to show this substantial shareholding. This shows me that there is either a breakdown in communications between the company and its PR company or a simple lack of respect for their smaller shareholders. The other worrying point as mentioned by other posters is that the company is having to look very carefully at their present financial position even though they they only lost 5 days worth of production. Things must be vey tight if 5 days lost production can cause such a problem.

I was led to believe that there were never any diamond auctions in Kimberley in December. Which leads to another question: how can the latest update still state that they are on course to hit 22,000 carats this year when they cannot sell any diamonds in December?

Under the Heads of Terms, the initial loan will have a short term expiring on 31 August 2021 and a coupon of 14.5 per cent. per annum. It is expected that the initial loan will be refinanced through the future issue of the CLN to Teichmann, the CLN totalling £1.61m will have a strike price of 40p, a three and half -year term and a 14.5 per cent. coupon compounding annually. Interest will roll up and be paid at maturity, repayment or on conversion. The CLN will be convertible three months after issue at any time by Teichmann and by BlueRock if the Company's share price is above 60p.
So, as I understand this, and I obviously must be wrong, even after the CLN are vested and the Teichmann Group have increased their holding to 49%, BRD will still have to pay them some £930k in interest. Is this correct are am I totally wrong. If I’m correct, why wasn’t there a standard rights issue offered to all shareholders offering them the same terms?

Has anyone else noticed that they do have a habit of putting doubt into shareholders minds on what is going on which dilutes the positive news on sales of the stones!

The M’s & Art’s state ( I’m led to believe) that even is a bid is forthcoming from the main shareholder, they have to have over 90% of the outstanding 51% shareholders agree. So it isn’t just a walk in the park or a back door cheap takeover.

I think that this clause sums up the present situation pretty succinctly: RECOMMENDATION
Should the Resolution not be approved at the General Meeting then, in the absence of alternative funding arrangements being made available and based on the current
anticipated cash flow requirements of the Company, the Directors believe that current cash resources of the Company are only sufficient to enable the Company to continue trading for a maximum of a further one month in particular as the Company will be required to redeem the Simple Loan Notes in accordance with their terms.

I can only assume that the recent drop in the SP is the punters who bought in at the last cash raising exercise at 40p are selling having made a decent turn.

My worry is twofold: with having such a dominant shareholder we are open to, as you say, a lowball offer and with the recent problems in Durban which is a port city, how much of our orders relating to the commissioning of the new plant are being held up and how long the delay will be.

I have read in the press that S.A. Is now experiencing a massive wave of Covid. Hopefully with the mine some 120kms from Kimberley, the guys working the mine will have some measure of protection and we don’t have another lockdown.

From Mining Review Africa: “ AIM-listed diamond producer BlueRock Diamonds, which owns and operates the Kareevlei diamond mine in the Kimberley region of South Africa, is on the cusp of completing a major expansion.

At the heart of the expansion is commissioning a new and improved processing plant, writes CHANTELLE KOTZE.

The expansion strategy at Kareevlei is aimed at increasing annual throughput to 1 Mt and extending the life of the mine to a minimum of 10 years, says BlueRock Diamonds COO Gus Simbanegavi, who is also the CEO of the local operating subsidiary Kareevlei Mining. Simbanegavi, who took on the role in mid-2019, with an initial focus on increasing production levels at the mine, is spearheading the execution of the expansion plan.”

Bmeister

I think that you have hit the nail on the head. I would anticipate a takeover bid in the next few months. Question is at what price? The long-standing shareholders who have seen their share values staffed up the wall will certainly not be happy with £1 offer. Fun & games ahead!

https://presentations.investormeetcompany.com/investor-meet-company/BLUEROCK-DIAMONDS-PLC-Investor-Presentation?auto_enter=cancelled&_redirect=webinar_end

Mil09, be sure to ask him on Monday.

https://www.investormeetcompany.com/bluerock-diamonds-plc/register-investor

I don’t know that anyone noticed but this is the first time that I can recollect that the chairman, Mike Houston, has taken up near £50k worth of shares in the rights issue. For me, that’s a vote of confidence providing there’s no further lockdown or floods or a plague of frogs or................../////