Member Info for jscapper

I was trying to say that but you put it much better than I could.

LOL

Another incorrect statement. The company floated at £1.3 Million M/cap.
I really wonder why you continue to have an interest in this company. If you are an investor, which I doubt, then can I suggest with that you sell up as it will help your health.

250k on NEX

I think that could be a real bargain buy.

One sale to remember

"7.76 carats selling for $78,306 ($10,091 per carat)"

A 20 ct stone could easily see this figure around $25,000 per Carat. That would be $1/2 M for one stone.

I feel everyone's pain with this sp at the moment. I am tempted to buy some more but waiting for guidance on the finance plans. I suppose I am not alone on this. Would love to be able to participate in the fund raise. If not possible then will buy some more. I can see the plan and with the asset we have I am happy to sit and wait.

If you look at the number of shares sold as the sp has halved it is evident that the market is taking advantage of the uncertainty. Would love to see a clarification from the management about what there wish list is and the estimated cost involved. The sooner this is done the sooner the market will settle and we can concentrate on achieving the goals set.

Taking advantage of the uncertainty as to funding.

Agree PR that we have slipped on the stated levels. Think is an issue with the old mining circuit and the constant maintainance needed to reach optimum levels.

Just for the record I picked out these two sales figure on couple of large stones.

You can see the premium given to larger than run of the mill gems.

"We are pleased to have achieved $395 per carat in the July tender, including our highest dollar per carat valuation to date of $7,054 for a 5.5 carat diamond. It is particularly pleasing to be achieving such a high average value for our production without relying on large diamonds.

In November 2017, the Company sold a record 957.70 carats, a 56% increase over the previous month, and achieved its highest level of monthly sales of $387,059 at an average of $404.45 per carat. The diamonds included in November's sales tender had a grade of 3.63 cpht. The largest diamond was 9.07 carats and the highest value diamond was 7.76 carats selling for $78,306 ($10,091 per carat).

When the initial Z Star report was conducted the following estimated values for sizes of stones was given

For a 10 + carat stone value was put at $1526 per carat

Real value from an found stone was $5000 per carat

Likewise the put the average from the KV1 -3 at $141 per carat

Real value from an found stones is $340 per carat

Just shows what a world class mine we have.

read the Update

" A second largest stone recovered 10.58 carats in September 2018 with an estimated value in excess of US$50,000"
If you look at the Z Star report you will find a sliding scale of value against stone size also. I would think the estimate is also done on what they received for the last 10 Ct stone.
Lots of other good points to those who read it fully.

So virtually the largest stone we have found in the first blast from just below the 10 Meter level. And estimated $50,000 for this 10 Ct stone or $5000 per carat.
As you say, for me, this is an important part of this update. I wonder whether this has been a mitigating factor in the pushing forward to increasing production.
You can see the 4.7% mined has really been a trial to find true value of this project. Armed with the data from the last 12 months a new plan is being penned with the help of true professionals.
I also wonder what the plans going forward when this mine is producing at a very profitable rate. Will they be able to use Mike Houston’s experience to identify other similar medium sized pipes.

I think that is what this is about. Management have evaluated the production after establishing a first rate mine with lots of potential which cannot be unlocked with present kit. Spend a Million to unlock Millions. Sound good management to me.

Am I reading it right that the 10ct diamond was from KV1?
If so this broads well for this pipe when we start to mine the good stuff.

Looks like the management have now evaluated the project and are now ready to commit to grown up mining. Upgrading the present system needs to be financed. What would a plant that can take 200 tonnes per hour cost. Then do the maths as to the impact on the bottom line.

See they have not sold the 10ct stone yet. Not a bad estimate off value at $5000 per Ct. Would expect an increasing number to be found as they mine past the top layers.
Looking forward to having some meat on the bones of the development ideas. And the funding proposals. Hope it includes the existing shareholders being offered a stake.

Looks like they have big plans. Starting to look very interesting. £500,000+ made in Q3. That is 1/3 of present M/Cap.

Missed it by 2 mins. LOL

RNS

Really hope that the figures will show a steady increase from Q2. Still not expecting the world at this stage but anything around those figures would be a great result.

Q3 estimate on what we know.

75000 tones mined
3 ctht
$731,250 or £562500

Nice little top up.

On the cusp!
Hopefully a better idea of progress with this Q3 results.