Member Info for MattTheBrave

That would be nice. let's hope we don't follow the normal trend which seems to be spike up, and then drift back.....

So, 4mn shares gone through now - 7x daily volume on the first couple of hours. That will certainly have taken out a lot of the weak holders and shorters. Question is, how long will it take to get the rest out? We know this share can gap quite easily, so let's keep fingers crossed.

Ok, thanks.

Kind of insecure to react that way just because someone has slightly different view...? Let's stop now and agree to differ.

That's fine - I wasn't expressing an opinion, I was simply saying it wasn't written very clearly and seeing what people thought. This is a pretty useless Board if people can't at least ask a question without a flurry of daily mail- esque outrage coming back.

Now that's just mean. Picking apart the small negatives is what has saved me money. You should try it.

Try not to confuse someone with a more balanced view than yourself with deramping. My statement 'So, a good deal, and the stock looks very good value below 5p to me.' would probably make me the worst de-ramper ever wouldn't it? You've been spending too long talking to cats....;)

Well spotted Spreadbet, should have been 4% revenue share at Mothae in perpetuity, not Lemphane. Think it's all pretty spot on apart from that......I look forward to your forensic critique of my analysis based on your deep understanding of financial markets......

Firstly, great news, certainly put my mind (more) at rest, although I'll save the cork-popping till the financing is contractually signed (although I fully expect it to be given quotes from both parties). Secondly, there is dilution in 2 forms. (1) the convertible will create 93mn new shares which is 33% of the current outstanding issuance. (2) existing shareholders will be effectively diluted by the revenue sharing agreement with Acrux. Whilst the revenue share percentages looks low, remember that it will be a much higher proportion of attributable earnings (ie they get their share of the revenue, but exiting SHs still have to cover all the costs). That said, it's good to see that the revenue share figures fall over time (though remains at 4% on Lemphane for perpetuity it seems). Finally do we really think they have negotiated a $2mn discount on Mothae? You could read that statement as being that they have to pay them $2m on signing the finance followed by the balance of $6.5m over time. It doesn't seem very clear to me. So, a good deal, and the stock looks very good value below 5p to me. However, risks still remain until the diamonds start flowing, and we have had to give something away to get the required financing (which is to be expected).

....ie twaddle. You all know that I'm as cynical as the next man on this stock, but it's clear that the chap being interviewed is not very familiar with the story. Financing was always going to come with some form of dilution through a (deferred) placing through warrants/options/convertible etc, so this really isn't new news at all. In addition, as mentioned below, the financing is for the purchase of one asset and the development of the other, not purchase of 2 assets. Finally, he didn't;'t even mention the September deadline, so clearly isn't close to the stock. Financial journalism is (generally) pretty poor, and this is another good example of it. Only thing I would agree with is that getting the finance package has clearly been more difficult than expected, and may lead to higher dilution than we would really want as a result. Even so, upside on the price should still remain.

All this talk of short covering. TBH, if the stock doesn't calm down soon, I'll be covering my shorts with something as well...boom boom ;-)

Yep, this is pretty much where I am as well blue.

Well I can smell them already - and they're ours!!

...except the 7 day deadline extension. Can people please stop saying there'll be no dilution here. They cannot finance this wholly from debt, and frankly, as a shareholder, nor would you want them too - leverage would be too high. So the question will be how much dilution ie how much of the latent value will we as current shareholders have to pass onto the financiers to get them to invest and finance the whole deal? What would be really positive is if the dilution only occurs at much higher share prices ie above 7p, and perhaps as high as 9p or 10p. This would be a genuinely positive statement from the new investors on the Company's prospects.

The Others? Weren't they the 'baddies' in the TV Series Lost?

Funnily enough, I made the same joke about my moniker myself a few months back. Truth is, anyone who invests money in AIM stocks is brave - do some research on the average stock performance on AIM and how many companies go bust relative to how many are successful. It might be instructive for a big brave investor like you. I am continually concerned about investments I make in small mining companies with no revenues, and I continually question the investment rationale to make sure I'm still happy with the decision. What do you do?

As shareholders, we are the owners of the business, and the management are our agents, there at our pleasure. If you genuinely believe that any management is behaving with 'shareholders not being in the equation' as you state, you should sell immediately. No debate, end of.

Yes, but what sort of sensible management leaves shareholders hanging out in the wind till the very last second? Answer: none of them.....

......that the sp move is a rational reaction to a management who have consistently missed deadlines that they themselves set. PM needs to learn that talking a good game (which he does) is not the same as playing a good game (where the jury is still out). I agree with many here that the upside potential remains large, but let's not kid ourselves about the risks associated with AIM stocks, and mining companies in particular. The management needs to combine good communications with delivery, and on this latter point, they have not covered themselves with glory IMO.

What!!?? Extend a previously communicated deadline. That's not the sort of thing you expect from PRG/PM is it.........? ;-))