Member Info for einvestein

could be big growth ahead with this company especially when they are getting clients outside the UK. Cutting costs by employing tech staff in cyprus. No debt financing ... will save £700k this year. Seen a lot of advertising being done.

IDC are out to loan money and its hard finding clients... old article http://www.idc.co.za/wef-business-plan/free-state/building-trust-in-free-state.html Reading Valency's posts regarding IDC and its roles in SA and the reply mr positive got from PL about some form of compensation IDC will require suggests that it will come good. What are the chances that a bank will call in adminstrators when all that is required is a 'bit of extra time'.

dcp is the largest creditor. They loaned money to lace via idc. So shareholders and idc could get equal share.

mr positive, I wouldn't send too many emails to PL as you could easily lose the privilege of the special contact. It shouldn't be too difficult for PL to agree on some issues related to director obligations. Both parties must come to a compromise. If all fails, perhaps PL could simply raise £16 million via a placing of 400 million shares and pay back to IDC. IDC appear to be acting like rasmala now?

some progress and new 4p share issue as expected. I dont think any of us pi's will be able to get these. The main part of the restructuring is still outstanding, i.e, how much debt will they convert to shares. The good part is that if they decide to raise £20 million its going to be roughly 1 billion shares valuing the company at £40 million. It looks like shares will be reopened sometime in april or during May at the latest... when the 2nd share issue is carried out .... at an open price of 4p?

deal done .... LOL. could also mean someone is bidding for 555k shares to get in before tooooo late.

funny how keaton is valued at just nearly £20 million. Obviously bid is already out to those few. I think CZA has a chance of being the chosen one as others are not nearly as desperate and keaton board know that this will go through as BOZ suggested financing in place.

I think dcp is paying 10% on the original $16 million loan and it is now $18/19 million. Adding a further $10 million facility will mean nearly $3 million on interest payments alone a year. So I think it would be more beneficial to get all the money via a share issue and reduce the total idc loan. I am not sure if that will even be allowed by idc. However, bondholders could easily be converted to shares which is currently only $4 million. Valency did mention that PL was looking to convert 20 million of debt (dollars/pounds). So that would be brilliant.

indeed it would still be a brilliant investment. The large pink stones are still there and hopefully they can generate the £20 million profit by 2020. Thats still 2p eps which in longer term could easily give 20p per share on 10 times earnings. Maybe 2017 will be the turning point for dcp with extra large pinks and hassle free production.

as Jaf pointed out, its pointless to post anything but at least it keeps the bb a bit lively. I highly doubt of a 1p share issue. We know from valencys meeting with PL that we can expect a share issue at a significant premium to the current 2p mainly because the new DCP will have very little debt and fully funded (yes, we heard that before) as well as in 'full' production. DCP has assets of £39 million and liabilities of £28 million. The number of shares issued will depend on how much to convert that £28 million into equity. For example if they agree to convert total of the IDC loan totalling around £15 million and also raise an additional £5 million, they could issue 500 million shares at 4p. So we will end up with a billion shares and a market cap of only £40 million matching the Dcp assets. I am not sure what a substantial premium is but a £40 million market cap for a new dcp with no idc debt totally wiped would be something...

is back ... part 2. I thought he was keeping it for xmas.

many thanks Val.

I hope you are able to visit lace. I remember you were planning for 25th? I hope you are able to see PL and give us that reassurance that he is still and will be there.

thanks for the info traderman. What were the difficult questions that were being avoided.

a BIG thank you to both of you for providing all this info. It looks like a generous sized debt package is on via idc. I remember aureus mining doing this using half debt and half share issue http://www.lse.co.uk/share-regulatory-news.asp?shareprice=AUE&ArticleCode=2sjlprwd&ArticleHeadline=US215_MILLION_DEBT_AND_EQUITY_FINANCING

"be patient as raising funds take time and shareholders are reluctant to give more so they need to get cash elsewhere." cheeky ba*******. They already gave more than 60 million pounds. The only reason the sp is stable is because of higher coal prices and they have that 10 mill cash. Just start vele with that cash u fools.

All resolutions passed. PL now has authority to raise a lot of money. I say just do it once and try raising $13million by issuing 500 million shares at 2p. We will have a billion shares, but better than all this cash flow cr@p Banksman, there are more than 10k carats in the inventory. 5000 marked for rasmala and 5000 for sale

what effect does business rescue have on shareholders? “During business rescue proceedings, an alteration in the classification or status of any issued securities of a company, other than by way of a transfer of securities in the ordinary course of business, is invalid except to the extent that the court, or the business rescue plan, directs otherwise,” notes Stubbings. http://www.fin24.com/Entrepreneurs/Resources/Business-rescue-explained-20150119 Lets hope that they get a new $10 million loan to complete everything.

some systems probably only display the last trade price or sell price. computer is just confused and cant obtain the real price. It really doesn't matter now. If everything is sorted, the opening price will be much more than this. I wonder if we can find out from PL tomorrow how long we can expect the suspension ... december, when rasmala debt is also due?

could you please find out whether rebuilding would be covered by insurance, at the agm.