The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
The Chief Executive Officer of state-owned Zimbabwe Consolidated Diamond Company, Moris Mpofu, revealed that the company plans to invest $32 million in exploration projects this year.
Such projects involve reopening mines in Chiadzwa, home to the Marange diamond fields, and other parts of the country, as well as launching new operations in the Save River floor and the Odzi river.
According to Mpofu, the final goal is to grow annual output to 4.1 million carats in 2019 and to 10 million carats by 2025. Last year, ZCDC produced 2.8 million carats, with sales adding up to $47 million.
The diamond miner’s CEO also said that he expects investment and strategic partnerships to increase in the next 12 months, given that the recent changes to Zimbabwe’s rules around diamond mining give ZCDC, Murowa Diamonds – a unit of RioZim- and two other companies to be approved by Government exclusive rights to undertake exploration and mining of the precious gems across the country.
Just always makes good reading
TBT
Whilst I admire your optimism I don’t see it.
I agree with clearing the decks of Mercuria and SSGI to release the charges over the assets but the company is surely going to require substantial funds for progressing??
Given the performance on timescales over the last year I have an air of pessimism around timescales, as much as AP and the board may hope to close in 4 weeks it is another stream of work that is well out of their hands. Approval for these sums will require plenty of diligence and I am sure terms are going to be harsh given currrently run of form
But worrying and pessimistic thoughts are not useful so I will refrain now from posting them on here. They are never appreciated anyhoo
I know there are plenty of positive expectations to dwell on and I am 100% sure the next update/podcast or Q&A will highlight these very shortly.
Best of luck
Still holding.... licking my wounds
Kew
800k at 0.00175 is 460,000,000 shares.
Add another 800,000,000 either post resolutions for working cap or Bergen T2
Further poor news.
Offtake delay. Can’t see a replacement provider coming through in less than 8 weeks. Prob more. Don’t believe AP assurances that previous diligence can simply be used to secure. My new provider will want to do their own
Diamonds not awarded to VAST. What a kick that would be.. cruelly taken out of our hands...
Bergen T2 not to be drawn. Not too bad in itself but the company needs cash. And their desperation has beeen shown.
Unknown operations issues. Just for soda law
Too much downside for me to keep buying. I am over bought as is and despite £0.00376 can’t bring myself to take a larger holding.
Good luck but I fear more of a slide. Ever hopeful I am wrong... certainly been wrong so far
Kew
MJ13.... really?
Look a tough previous podcasts and Q&A.
Nothing new that isn’t in the public domain.
I cannot believe will provide any new insight.
RNS only. Beyond that the platitudes are a waste of time.
Focus on the deals you need to do to secure the business
What happens when Zim award diamonds away from VAST
What then? He will prob have close to 3bn shares to play with.
Plan b or c.
Get deals done to secure cash.
Offtake nice but other than that look to the company assets and trim down.
Look at the company value now! Poor
MS.... to clarify.. poor was aimed at the additional commentary on pushing the application of an Exploitation Licence by 3 monthsend Q1 2019*
AP bought shares... are we to believe this is just discovered
Whilst BoD judgement is being questioned and I suggest there is a drop of information which is pertinent it feels like a miss... poor
Certainly some grades at minimal cores are encouraging ...
I hadn’t appreciated that the nominal value of the convertible was $1.575mm and of course vast received $1.5mm cash. The other $75k was a fee. But Bergen could convert the $75k giving them a double dip on the fee.
At 0.0028 that’s 26mm shares. Nice especially when added to the 68mm shares they picked up initially
Presume at the very Lease they would take those off the table?
morningsun. Been here since start2018. Feels longer!
From the interim results at end of Dec
Any draw down on this facility is intended to be repaid from the Mercuria funds, so that no conversion rights are expected to apply.
To be fair no conversion has taken place so still okay there!!
Also from interims
Eureka Gold Mine, which is planned to be in production by June 2019.A $30million debt facility is currently being negotiated to fund the development of Eureka. Wonder what collateral is asked for? !!!!
And I know he said update on blueberry completes to be issued first week Jan
All specifics. But I take your point regarding how vague he has been
What are the next deadlines?
Updated website by end of the month detailing progress and plans on all projects across all jurisdictions
T2 from Mercuria still required
EGM for multiple resolutions. Cannot see any being voted down
Start up plan from tech director on BP
Update on B.B. was due beginning of jan!
Any other I am missing
Excluded diamonds as as far as I can see that is not a timeline AP has set