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you're dreaming LuckyLuciano, firstly the RNS has told us 250k per quarter, so that's 1m a year not 2m, and also the CEO warned that the $14 a carat was not run of mine pricing. IT remains to be seen what the rest of the carats sell at. it could be from $3 a carat up to $14. we have to wait and see…but your figures a dreamland.

the parcel sold during late September at US$14.3 / carat was a customer specific parcel and does not represent run-of-mine material………ok, i"d be eager to know what this means exactly, and what could be expected from the regular run-of-mine material.

he parcel sold during late September at US$14.3 / carat was a customer specific parcel and does not represent run-of-mine material………ok, i;d be eager to know what this means exactly, and what could be expect from the regular run-of-mine material.

CEO says demand for Gemstones. Is growing . Decent report .

the price of FE 65% pellets is at an all-time low. But again, this is partly offset with 1, the dollar has strengthened so much since last year, 2, the local ukrainian currency has weakened helping costs,3, oil prices are on the floor making production cheaper. So its calculator time. ….meanwhile no word on the banking nonsense and no update,

clearly the banking fiasco has not hampered production in the slightest ….best production month ever. !!!!

coming soon/ now that's production

as majority share holder he won't fire himself .

The CEO has to walk the plank. He invested , sorry used, our money to prop up his own side business, the bank. In the process nearly wiped us out with him. I doubt he will resign but he should.

Profits…. I'm really looking forward to the next RNS. The frustrations of last year and this year will be cast aside. Hopefully we will indeed be making profits month on month by December.

me too, holding my entire stock here. but good lord i am down 50%. but most here lost a much higher percentage ?

Overall a reasonable RNS with costs clearly well under control and the mine commencing solid production with figures coming next month for both sales and production. The online sales created a profit of $78,000 and shows the enormous potential it offers. I'm a little disappointed that the sales figures and production news wash;t more revealing, but I suspect they have just entered into proper production and to release figures today would have been premature. There has been a serious amount of drilling in preparation with 600meters of holes bored, so lots of data and details so let's hope they get off to a good start. Plenty of cash in the bank so no nasty placings in sight, production and sales underway. I see the plant's capacity has been reduced by 33%, this actually is NOT an issue as that plant has an enormous capacity at any rate and was more than enough for requirements in the first place, but clearly it has been frustrating them. Very exciting days ahead

i wonder when we will have news on a new ceo.

read the interview earlier, the billions is in local currency so its more like tens of millions. I thought the interview was very unusual and left more questions than answers at the end. she did confirm he gave personal guarantees, which will be good news for her Deposit Fund…. standing at the top of the creditors queue.

thanks Rich, I am not 100% sure on our debt , I thin we could be higher than the $700 I penciled in. Could be $850m. but even so that still leaves huge upside here.

This is becoming a Panto, The VW CEO was gone in days, these guys haven't even released an RNS. For me there are two types of bank insolvency 1-when the bank becomes illiquid and cannot function and settle its payments. This is not strictly insolvent because with assets as collateral the bank can raise finance and move on. and the second is when they simply cannot raise money and the curtains must close. BUT……what happened here, the man agent were satisfying day to day payments, It seems that the Deposit Guarantee Fund stormed the building and said ' HaNDS UP , we are taking over, WE deem you insolvent , not because you are illiquid but because you breached a funding arrangement we had. No No that is not how things are supposed to be conducted. clearly the CEO had serious assets behind him. I hope they challenge this in court and get this reversed before the Deposit Fund do any fire sales of the loan book assets, to rival banks.

under AIM rules we will have to have the results by Wednesday 30th Sept. I hope they are comprehensive because this is a startup mine and the more information the better. can't imagine much doing until then but a strong set of results coupled with a detailed report on production will set this up nicely for 2016

reading the legislation of the Ukranian Deposit Guatantee Fund is very disturbing reading indeed. I would suggest that this legislation and the accompanying powers are by their very essence potentially unconstitutional . The powers entrusted are open to abuse and without arbitrary . This bank of Finance and Credit ' was commandeered in a warning-less raid. There was no due process here. It strikesme they operated a 'one slip and your out ' policy . The law of placing themselves at the top of the list of creditors in banks it siezure is clearly a breach of constitutional laws assigning themselves pferrentisp positioning of priority creditors . What's the justice in that . And international investors get screwed - completely screwed . Remember the money in the bank is ours ... They charge , yes charge banks to be part of their ' guarantee fund ' so they are already paid for theiir risk . I think they should line up behind us - not before us. It's a disgrace . The company must challenge this in law .

i calculate at $827m/ seems that $150m got paid off, still steep.about $920m in debt. Buuuuuut….we could have $350m in EBITDA, and $176m in free cash flow. they'll need to keep the money flowing.

nice to see it rising. Lets presume the $174m cash is gone and lost forever. what's the company worth. let's take a quick look under the bonnet at the last accounts. EBITDA of $176m and free cash flow of $88m. with debt where it is here I am glued to the free cash flow, commonly referred to as ' the bank manger's profit'. as opposed to the accountant who thinks the company is making money even though it has no cash. So taking the $88m, surely the multiple has got to be at least 6 times this. I'm not forgetting that debt is aggressively being paid down.but I;d rather see that as safety net bonus. if we continue producing $88m a half thats $176m a year (bankers profit) x 6 times and we have $1,056m. or £681m. …… but for EV ( enterprise Value as many in this industry prefer.lets look …Ok we have annual profits of $350 and lets multiply that by 6 times earning $2.100m less the debt here $700 ( it seems because it was reduced ) $1,400m add on the cash $1,500m and convert to £. = £967m Market Cap, so it seems to me this company is surely worth much much more than the market is pricing in. No question there is a Q mark of the CEO for the moment and Ukraine itself, not to mention its Central Bank and its deposit guarantee fund that liquidate banks for fun. this company has completed its Capex spend in 2014 and the high grade pellets are a success. at these levels this is a strong buy in my book. GLA DYOR