Member Info for Lamps56

Mate, if you followed the public statements from Dennis, most recently at Mining Indaba, you might have a bit more perspective. The HMS sales require more product purity, which is being fixed. Diamond sales are exceeding expectations. The mine sale is under wraps as it is being negotiated. 2A licence will be granted soon. Follow the trail.

SP fall is entirely disproportionate to trading action.

Gord, you really have it in for Dennis don’t you? How has the ‘sands contract gone pair [sic] shaped’?

Don’t mean that in a patronising way, but having faith in the CEO is a big part of the risk analysis. And I have made some errors on that for sure.

Sure, but if you don’t believe what the CEO is saying, it may be time to look for another investment.

Anybody here ever tried to build a mining business? It’s about real world challenges involving large amounts of hard things. Doesn’t happen quickly. Hold fast.

Re Aftan, Dennis has stated, on several occasions, that the negotiations are ongoing with several interested parties, but are commercially sensitive i.e. no names and numbers at this stage. Not sure why that is hard to understand.

Always positive for an insider to increase their holding. I do hope that we will get a material RNS on Monday or Tuesday prior to the AGM. Some chunky buys over the next days will be the best indicator.

Re share price movements, there are currently 1.1 Billion shares in issue. On any given day only a few million are traded. The retail market is a self-licking lollipop and the Board won’t get too excited about it. The most important thing is the sustainability and growth of the business, and we need an update on that.

Thanks Basher. All scenarios possible, but getting any cash from Hebei in the near term seems less than likely. Can’t get blood out of a stone. But with the mine as an asset there’s a deal to be made, and it is all upside for the sustainable business model based on HMS and diamonds.

Those background sales have caused the drop - no reason to crash 6% on the minimal retail volumes. We need a bit of reassurance from management.

Must have had the office party last night.

That’s 2 days in a row that a 10k quid Buy has been registered, albeit a black trade. In the current trading wasteland that offers a bit of encouragement.

Wouldn’t know where to start with that rant Gord. You’re just going to have to do a bit a reading in. My view is that this is very much a going concern, the risk is low, and the growth potential excellent. My only worry is that sand mining business isn’t s*xy enough for the retail market, and punters are looking for shinier things. Despite Dennis’s best efforts on Stockbox, the volume is really poor. Hope the institutionals are smarter. They usually are.

So are some folks selling now in order to buy back in at 1.5 and take advantage of the warrants?

The lack of buying interest in this company on the verge of transformation (that overused word, but quite applicable in this case) is quite extraordinary.

Me neither, although it was clear that something was holding it up. Pleased it wasn’t brown envelope nonsense.

More to do with investor (speculator?) patience. Folks are seeking quick wins, and flit like butterflies to the next bright flower.

Don’t understand this comment Steven. Dennis has stated several times that diamond sales will largely fund other operations, and the income from diamonds will exceed previous estimates. HMS is already generating revenue. He also said that Hebei debt was effectively a windfall. The mine remains an asset with no rush to sell until the deal is right. The fund raising decisions will be made when the mining licence for the new plot is awarded, although no doubt the options are being explored now.

Good example of complete ignorance of the commercial confidentialities of the Alexcor deal and the way the sale pricing of HMS works. Wait for the audited financials, or if there is no patience for that, sell up and move on.

Getting better every day, although I note that discussion on the Hebei debt is off limits. Kinda get that as the lawyers must be heavily engaged. Everything else indicates continuous improvement, and as ever, Dennis is clear and consistent in his messaging. And wrt numbers, he did explain why they cannot be released yet. Onwards and upwards.