Member Info for Kintore

Once the grid connection has been confirmed I will be a lot happier that any price fluctuations are just the market and not due to a delay outside of the companies influence.

Any pictures available from your visit?

These shares were £4.70 only last month, the company was projecting 1.5m oz production in a few years and reading the info put out by the company on the Mara project this looked like adding significant additional value and diversity.
I am currently up 20% at £4.80 but would have held on for the long term as well.
The termination fee is quite significant for Yamana 'Gold Fields would be entitled to a US$300m termination fee' does anyone know what conditions would activate this clause?
Also does anyone know if the LSE listed shares will be convertible into the NYSE equivalent?

The recent information on mine geology from the company has been very reassuring, there seems to be a very progressive drive to understand the mineralisation characteristics of ore body.
Unless someone knows different or gold collapses this share will return 8-9% dividend (at last weeks average prices) throughout the next 2 years.
Most of the ongoing costs (cut back, grade drilling, underground development) over the next few years are required to get to the higher grade ore bodies and extent the mine life. There really is no other option and the management team have explained this quite well, especially when answering investor questions at the presentation.
I am hoping in 2 years time it will be difficult to find a 500,000+oz mine at this valuation and CEY will be back above £1.50.who knows?

Please do not let this thread degrade too much as I just hoped someone might have come across info I had not, perhaps the answer to my question is not available? so I will try to ask another way.

There is a lot of twitter information and a few RNS with inferences that this is a new Marsfontein but there is little detail in the public domain. Vutomi have all the leases in the area and 4 other possible blows are of interest, so who gains by giving hope without more detail?

The drone image on Twitter what is it? videos of visits to Marsfontein but no explanation to similarities in the Kimberlite types just a RNS stating in this region 61cpht would be expected, Marsfontein was 150cpht after the initial eroded/high yielding zone concentration was mined . No drone image of the surface obstruction etc that has resulted in the inability to drill between the two sites, knowing this type of information does not really have any commercial impact as I can see. (Vutomi have all the leases in the area)

To be honest I have sold down my holding to 10% of the original and if I can get some answers I will rebuild it back up. Although blind faith can be expensive I also hope over caution will not be.

Do any of the more positive followers of BOD have any information on the current financial state of Vutomi. Currently BOD have an agreement with Vutomi for 42% of the company but I am wondering if the share price has remained low because of a lack transparency perhaps (I cann’t find the info tho). The first link below comments on an example of royalties etc and the bottom document link gives the breakdown of Vutomi subsidiaries. Does anyone know how much BOD will own if this find is commercial taking royalties etc into account.

https://www.mining-technology.com/features/thorny-river-inside-a-cutting-edge-project-to-mine-diamonds-in-south-africa/

‘junior company Subterrane has teamed up with Botswana Diamonds as a larger corporation to find potentially lucrative kimberlite pipes …. Andrew Long retells that that they got in touch through social media after he offered the managing director of Botswana diamonds James Campbell a value proposition. The two companies are currently working on a direct fee basis, with associated royalties based on the diamond production from the hopefully successful project.

https://www.slideshare.net/JamesAHCampbell1/vutomi-thorny-river-project-competent-persons-report

Pages 25 & 26 gives breakdown of Vutomi in 2017.

And with the potential of the Mara project (56% interest) the price fall is even more difficult to understand.

Mike, This is the first BB I have posted on and I have no agenda here, I have posted because this board seems reasonable compared to others. I have about 1% of my SIPPs invested here. I started to invest from the first RNS indicating the discovery of the blow and have upped again on every bit of good news.
But having lost several times on binary bets/investments and I have been very wary of making the same mistake again.
I was only commenting on the fact that even without a great success in the current drilling campaign, the geology is very unpredictable, there is a good chance of some value with the current find as it is. The only value on my back of the cigarette packet calculation is that of cpht, but some diamonds were found in the drill samples.
All the best for next week everyone.

Best way to invest is not to lose money, which is hard when investing in AIM companies. Using the first pass model and RNS figures the hypothetical volume of the already found blow is:
80m x 40m x ~25m (depth) = 80,000m3 at a kimberlite approx. density of 2900 kg/ m3
giving 232,000 ton
Being pessimistic and assume BOD only retain 40% of Vutomi, using the bulk sample mining agreement from several years ago as a approximation, say:
25% royalty to mining company and transport
25% royalty to processing company
30% to vutomi
Leaving 20% to BOD e.g. 46,400 ton which if you use say the lowest grade at Marsfontein (diluted grade at lowest point of mine) 81cpht and say 250 $/carat gives:

464 x 81 = 37584 carats @ 250 = ~ 9,400,000 $
As this is the current approx market valuation of the company (This was the first attempt value, not fixed) we should not lose money if the source rock has 81cpht? hopefully!

I have not seen this report referenced here before, page 39 section 5.3 gives explanation of the diamond frequency between Marsfontein and Klipspringer mines.

www.slideshare.net/JamesAHCampbell1/vutomi-thorny-river-project-competent-persons-report

Report also has history of leases and BOD agreement with Vutomi etc

Watching the twitter feed has made this the most enjoyable exploration experience without actually being there, it is like living the excitement rather than just waiting for a RNS.
The area cleared for the current drilling site looks to be larger than 0.4 Hectares and the angled/inclined holes have been drilled after the vertical holes. (With the Thorney River first pass model all the holes were drilled at an angle and the blow looks to be within 5m of the surface at the highest point) In this case all the inclined holes have been drilled at the peripheries of the cleared site and it looks like they are drilled both away from the cleared site and at an angle to it. There is a real purpose to this system, planned after the verticals holes were drilled in central areas and hopefully after they have found something or rather I am trying to convince myself of this.

This is an interesting link to the Marsfontein Diamond mine history and is the reason I am taking a bit of a binary investment.

https://www.thediamondloupe.com/sites/awdcnewswall/files/attachments/marsfonteincasehistppt2005-190228162000.pdf