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Good stuff; clearly Abu Dhabi govt will intervene. But in the meantime more drama to ensue. Never own a FTSE100 stock with such drama each week and needs so much attention. So many shaddy characters popping up like MW/Carson; Shaky Sheiks and Doggy Pledging Shetty. No forgetting shadowy characters like Krupa/Czech (Breakfast Red Beans) and Ghribi/Tunisia (Website forever down) who have fair share of their problems with local authorities.
What next week drama, and this is only season 1 ? Will doggy Shetty&Krupa ask for quid pro quo from Freeh to cover the amount of dirts unearthed? Freeh may bailed out due to mountain of overwhelming Filth. Or the whole board resigned for their hoodwink role to safeguard shareholders like me?
I am sure NMC need loans to carry forward due to the rapid expansion it has embarked since 2014. The financial balance sheet seems to mask large 1.5 bln (from just merely 1 mln 4 years ago) goodwill value which may or may not be true; although likely have been inflated. NMC is performing in terms of revenue but the whole board is a scam.
Never own such FTSE100 stock that needs so much attention each week. Doggy Shetty best end this saga by getting 3rd parties interest to take a huge stake or takeover the entire company. Now, relying on shoddy characters to make good takeover rather than lip services. Bracing for the next sp dump; below £6 is inevitable judging from the rate of dirt unearthed and very revealing.
Poundland once on brink of collapse; still performance better than PDL unfortunately. Just check the covenants looking at the past RNS which I have shelved looking at PDL past 4-5 months. Net Debt/EBITDA for Dec 2019 <4.25X. Easy to meet. If Duffy fails this; he is utterly useless. Next 30th June 20; that ratio becomes <3.25X. If debts as stubborn as it is for the last one year; PDL in serious trouble. Hoping to find big carats in his office sofa is no longer the solution. one big carat a year not enough to cover BEE and Dent interest. PDL must cut staff; as management level has been culled to further save cost. Retrenchment is inevitable. Assets sales is next to reduce debts. Unavoidable. PDL is turning into protracted Lonmin saga. Very likely run out of cash as Duffy Project 2022 has not really materialised solid result yet. Debt not reducing. Give him another 6 months as he has been peddling sales talk that H2 20 will see benefits on free cashflow.A sinking feeling he may have to make right issue called in 2021 to survive. Hopefully some company out there will be interested to buy over PDL cheap; 2 to 3 p premium. PDL can not afford major operational issues to survive; the 2020 project has not plan B; only one way street; either survive or collapse. vested interest; need to monitor H2 2020. Getting interesting.
load up and sell. Wait until next thriller runs from Shaddie Shetty and buy again.
Hopefully the CEO hold the fort and the entire Board plus CEO resigned like superDry.
That will be fund. Buy to sell on rise, and wait for £5.90 or below.
This RNS is a joke; pledge more than own. These are no longer major shareholders; all three shady characters just discovered they do not own any shares. They know it along time ago.
Looks like all the shaddy characters are in motion , shaddy Shetty will buy shaky shiekhs portion through shoddie krupo loan to gain control of nmc , buy stakes before the incoming bid. Market likes the resignation.
lack lustre, drifting directionless sp as early update sums it up. Nothing can be worse than already now. at most stagnant at 8p until April next reporting. This dog going to slumber again. Will not dream for another discovery in Duffy office sofa; discovery for GEMD does not seem to fly in sp; thus same applies to PDL. Only hope is diamond price drift upwards; how tinny winny small will be good.
The major shares holdings revelation today is ridiculous for FTSE100 company. Governance? Shetty has been playing hoodwink games with the shareholding reporting. I highly doubt he does not know and need a legal team to peruse the numbers. Both sheikhs must have been reporting the 20 millions as they % ownership. Shetty too must be reporting he has the 20 million as his % ownership. This hoodwink the company and all shareholders. If Shetty has 15% shares ownership before the MW attack; he would have 31 mln shares; but 20 mln belong to both sheikhs. Leaving behind 11 mln of which 4.6 and 5.1 man were pledged to Falcon & AbuD banks. Shetty now has on 1.5 man shares at most. This is serious misrepresentation issue whether it is 15% (31 mln) or 11 mln or 1.5 mln ? How much does Shetty really have. did he dig into the 20 mln of the sheiks to pledge to banks ?
With UK watch dog asking for answers, I am frustrated that the shares may/can be suspended as 20 mlns shares are missing/misreported. suspension is bad. The "BS" talk of shetty buying up the shieks shares, I am afraid be an attempt to cover up the missing/misreported shares that does not exist. All this has been surfaced as a result of the potential takeover bid; since proper shareholding % must be transparent for due diligence. Freech may know this; thus forced NMC to sound alarmed.
For KKR and KGI; would not provide any bid if these governance issue not resolved. Another slump in share price may come if shetty is being doggie in reporting. Frustrated as vested interest. Another doggie area is there is no necessity to get the 2.6a rule and enforced 9th March if bid only highly preliminary; not even a bid; which means enquiry and interest. Wait until Freech reporting is never too late. Everything seems to be push in a hurry to coverup the lack of governance; talk of shetty buyout stakes and takeover. Sorry of takeover bid circulating also have been written by Ben Harrington since 4 or 5th Feb but without 2 bin values or the predators. why so convenient over the weekend on the bid after shetty buy out talk ?KKR/KGI may just sit this out in view of this muddy shareholders ownership.
worried as vested shareholder.
This dog still sleeping, debts debts debts.
Duffy better buckup, cashflow all goes to support debts that is stubbornly high. Diamond price not helpful. Away 3 months, look at it recently, no much different after the spike at usual.
Wait for this dog to wake-up towards the next results. Hopefully no slow death drift to 8p.
Vested interest, waiting for another 6 months or more. Virus adding burden.
https://www.bloomberg.com/amp/news/articles/2019-11-04/de-beers-cuts-diamond-prices-by-about-5-as-crisis-deepens?__twitter_impression=true
Hang tied, back below 8p.
Agree with CD. Indeed coffee or beer weekend money. Just did some today.
There is hardly much interest/excitement, no large inst buyers to tip the scale against shorters.
All depends on diamonds prices with only hope Duffy do not mess up operations and fcf. Debts level remains disappointing.
Next two update will determine if Duffy is cut for the job in poor diamond prices. If diamond price recover 5 to 15%, he will comfortable claim victory.
Sp up side so limited currently, although massive undervalue. At this rate , 6p is always a good choice to wait.
Indeed clearly a ridiculous sp, being held down.
Good point on blue dia.
The A trying to do DCB trap. Set up a few small sell at 7.3p and sp goes down quickly. Going to retest 7.2p again, if fail due to many A, back below 7p.