Member Info for JulianM

Nearly two months gone by since last conversion.Are they waiting in the hope that the sp falls further so as to improve their return in terms of shares issued to them? Presumably they are by now out of shares and unable to influence the sp but I defer to GB33 on this point.
Alternatively and this is the outcome that I do wonder about,are we about to be presented with another loan restructure with another further advance included ,so as to provide working capital?

The finance is described as a "facility" suggesting an initial payment with the possibility of future drawdown, no doubt subject to terms as per Mercuria.Presumably the initial payment will be enough to pay off Mercuria and fund BP.No doubt warrants will play their part but will we avoid a convertible element,which could be very dilutive? And will it be the Swiss Bank or another funder?Much to be revealed

There is another point to make about Institutional Investors which has been all too evident with HZM.I bought into the HZM story having been impressed by JM and also the level of Institutional support.The sp rose to a high of about 5p in December 2017 and all looked good until one of the investors with a holding of about 11% (Lombard )decided to gradually reduce its holding leading to a steady decline in the sp to about 3.7 p at the time the BFS was released nearly a year later.The BFS evidently did not impress the market, the price declined to about 2.5p and about that time another Institutional Investor whose name escapes me had to carry out a fire sale of all its holdings including HZM and down went the sp to 1.8p and stayed there for a while.
Despite RL commenting that even at 2.5 p they were "a steal" I admit to eventually losing faith and selling a chunk of my holding.Bad move of course because they have recently gone up significantly but the moral of the tale is that having Institutional Investors on board is fine until they decide to or have to sell up.
I agree with TDT that the Riverfort situation gives us the opportunity to buy more at a very low price and in so doing it it a question of ignoring existing paper losses and keeping the faith which I failed to do with HZM ,to my cost and will not repeat the mistake.

Thanks GB33 but a little sorry to hear about the 3.5m "war chest" So we continue to just wait(and hope) and I suppose expect another conversion soon

The 3rd October RNS does not give the exact date of commencement but if we assume it to be the 3rd itself, testing has been underway for 5 days. Are they likely to have learned anything during this period,I wonder, or is it too soon?

Longest period since the loan restructure without a conversion but I suppose they are merely holding off as long as possible,given the falling sp,so as to maximise the number of shares issued to them.In the meantime no obvious significant level of Riverfort selling ,so perhaps they are out.

Hi FTB Thanks for mentioning the retweet and I think that the purpose of it is very much to confirm that we are in and I wonder whether the response to my query "nothing finalised" can be taken as suggesting that once Vast have finalised their Agreements a formal Agreement will be concluded between Vast and BOD to supercede the current arrangement.

FTB I will share an exchange of emails that I had with the Company yesterday which features some erudite (to say the least) responses from the email address of John Teeling

JM
I am a shareholder and suggest it would be helpful if clarification can be given regarding the current status of the Agreement with Vast.,given that Vast appear to be on the cusp of finalising their Agreements which will allow them to mine the amended concession area for diamonds.
Their is speculation that the Agreement between Vast and Botswana Diamonds has lapsed and no doubt the lack of share price reaction to the significant news announced by Vast is a contributory factor as far as such speculation is concerned
If you can clarify the situation this would be much appreciated by myself and other shareholders
JT
Nothing finalised

JM
Thank you for your response from which I assume that there is no ongoing Agreement with Vast at present.
Can you please advise whether another Agreement is anticipated of whether the relationship between the two Companies is at an end.

JT
Just read our RNS on Vast

JM
I have read all of them and am I right to assume that you are referring to the RNS of the 14th February in which case I assume that the current position is in effect "watch this space" as far as shareholders are concerned

JT

Yes

TBTT I find it difficult to be as negative as you are about the Vast RNS and the markets have taken it well.As per the Proactive interview with AP the concession area includes part of the original area and Vast are happy with the result.The deal will be signed off on behalf of the Government shortly and funding is evidently in place.As to BOD, although the Vast announcement has had no effect on the sp I would have thought there is every likelihood of Vast wanting the benefit of the expertise of JC and the data held by BOD, the sharing of which was part of the Agreement signed in 2018 and any confirmation of this will be beneficial.Case of watch this space I suppose

Our longstanding contributors for some excellent analysis and discussions over the last day or two at a very interesting time, I feel, for our company.Much though I enjoyed at the time, our brief rise above 3p the downside was attracting a few rampers to include ,albeit briefly, the somewhat notorious Mister Positive

Noloss.Like you I wonder how much we need to raise to take us to the end of 2020 and how are we going to find the money.Strategic partner best option but if not possible its difficult not to be concerned that with his track record of raising funds without much regard for the effect on the sp RY might be inclined to approach Riverfort again.Having said this the game has changed now that TB is on board with 1% of the shares and perhaps he will have other ideas which will not lead to a significant reduction in value of his own holding in the Company

Hi GB33 Thanks for your analysis and having quickly looked at the conversions I agree that they probably have no more to convert, having taken the opportunity presented by the low sp to convert all that they could on the 2nd September which was the largest conversion in the last 4 months.

GB33 I assume you are referring to the 2nd September conversion shares.Is it your view that before that conversion Riverfort had sold all their other shares ? If they had,a "war chest" of around 7m shares does not give them too much firepower,although I accept that if they want to be aggressive they could convert more. Would be good if they are reasonably content for the sp to remain at the current level, in which case we have a new base level for the sp .

On the basis that this mine will be built and this does seem increasingly very likely,I wonder whether there is any possibility of construction starting next year,presumably asap after the end of winter.Those with a far better knowledge about this subject than me (of which there are many) may be able to comment as to whether this is feasible if finance is sorted,in terms of everything else required eg permitting ,awards of contracts, requisitioning materials etc or realistically is a 2021 start more likely.If next year is at least a possibility what is the latest time by which the finance must be in place so as to move the project forward?

Thank you Henners. The willing seller being Riverfort I presume.

Hope you are right Geng as it gives them less "in the kitty" to sell

Henners. Could I please trouble you to advise how you know that this purchase matches the sales for 300,000 less shares carried out earlier in the afternoon.

Assuming this was Riverfort cashing in again and given the lack of obvious sales by them during the previous couple of days best hope in my view is that they were forward selling following the conversion of yesterday

Conversion as expected .Annoying

I agree TDT and what I had in mind is that assuming they do intend to convert,the higher the sp the less shares they receive