Member Info for LuckyLuciano

Yes if I remember right GEN sold shares in the Capricorn mine once realized that RLD outfit had intention to restart mining there. I suppose the Capricorn mine was one of GEM plans to diversify their gem variety, indeed sapphire is what they lack in production. I suppose is not out of the question that once production is established at Capricorn, GEM might make an offer for RLD, it would eliminate a competitor, and limit flooding the market with sapphire.....though i don't think this will happen. Anyway i am so tented to but more RLD right now, virtually the best moment price/news flow......

So all lie in the balance of the below statement================================================================== Paragon Diamonds Limited, the AIM quoted diamond development company, announces that it has signed a non-binding term sheet, to secure a US$15 million funding package with Acrux Resources Proprietary Limited, a private South Africa based company. Extensive due diligence has been undertaken and all that remains prior to release of funds is to complete legal due diligence and contracts=============================================== Extensive due diligence has been undertaken and all that remains prior to release of funds is to complete legal due diligence and contracts----- Apparently legal due diligence is the final hurdle then....... but what is exactly legal due diligence? My interpretation is that it will be just a mater to finalize the contract, from a legal point of view. The company stated that already extensive due diligence has been done presumably from Acrux Resources ofcourse, this is an outfit with lots of experience in mining I suppose, and unless they are in bed with PRG BoD to mislead the market, including Lucara Diamond, apparently it is only a matter of time for finalization of financing. On another note many people here talks about shorters affecting the sp. I would be surprise if any one if shorting this share ever....the risk attached to shorting Prg, and the fact that it is a penny share make it almost impossible to short Prg for anyone with a minimum of knowledge and commune sense. Is true though that there are many nervous investors out there, and that the market maker with its huge spread is able to move the sp almost has it wish ..

Agree with you Collins14 Indeed first sale from a new mine and in a new market could achieve possibly even lower than $2.5 per Crt. the thing is that nobody knows....What we know though is that the management is professional, experienced and the potential of the mine is great. This I think is more important than any other factor. In my optimistic view I was hoping for $10 per Crt. once full production is established and sale of cut polished and large stone are achieved, but if you take a look at GEM average price per Crt. achieved even $10 could be low. Ofcourse we are talking about 1/2 years time and once production is a full speed. Looking forward for first numbers....

Sure Collins14 my point is that been in ramp up prod. phase October announcement would reflect a pre production. More that quantity I will be interested in price per Crt achieved. We all know that more Crt are produced and higher is the price achieved, so initial small production from low grade ore will not reflect the true potential in profitability of the mine. On price achieved per Crt I was hoping for something much higher than $2.5,.......lets see first numbers what will reveal.

Collins14 wouldn't expect several million in sale, as first sale of gem in ramp up production, normally never generate high price x Crt. Still it will give some indication of the true potential in a year to come. I am delighted for a change with the BoD integrity and honesty, and the measured use of the company finances. If it carry on like this, there is every chance that RLD will become a very low cost very profitable miner, in due time.

Date/Time Subject Author 11:45 RNS luciano uk http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12517833.html -------------- Very pleased with transparency, cost control, and overall progress. Looking forward for October update, although the true sp potential will materialize in a year time I suppose. Nice 3.4mil $ in cash and no debit should guaranty no share issuance or dilution. A question mark on tonnage processing potential from 200LQM to 200 Tones max, still at 20Crt x Tone, 12 hours per day and 300 days per years it makes, more than 14mil Crt, much more than the 8 mil Crt as from feasibility study. I am happy.

Z2Z2 I will be happy if you can show/post this info you claim to have see.

Sorry about my paranoia but I was reading from 2014 Financials the following: ================ Notably in November 2014, a sale of diamonds taken from the 2012/2013 bulk sample programme was undertaken as an exercise to test market demand for diamonds recovered at Lemphane, ahead of Stage 1 production. The diamonds sold include fancy yellow stones which achieved values as high as US$2,500 per carat. (Chairman Statement) ================= This is confirmed by more detailed news on the 17th Nov. 2014 The thing is that in both statement it is not indicated the quantity and amount that this sale have achieved. More over I have not managed to find this income, on any financing statement. It is very normal practice the state how many carats and the amount achieved at diamond sale auctions. Further more I read the below from Accounting Policies of 2014 Financials: ======================== REVENUE RECOGNITION Revenue from the sale of diamonds is recognised when all the following conditions are satisfied: • the Group has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Group; and • the costs incurred in respect of the transaction can be measured reliably. Finance income is recognised when it is probable that the economic benefits will flow to the Group and the amount of revenue can be measured reliably. Interest is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts over the expected life of the financial asset to that asset’s net carrying amount on initial recognition. ========================= The above wordings make me believe that we shareholders, will never see or know, how many Carats diamond were sole and for how much. Still some hared asset not accounted for has gone from our company. It looks like this is a matter for the Financial Authority. In which case it wold be wise if we shareholder get together, to start the ball rolling.