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is tomorrow. BRD could be earning near $1m on this first month with 2200 carats on hand to sell.
However, because of omicron if there will be less participation of buyers impacting the selling price, then it will be similar to the last December sales where selling privately result in losing around $50k that could be a salary for quite a few number of people working there.
When conducting last December sales, Facey should have interrupted the private sell and should have advised to go with Delgatto Finance if the diamond market will continue being buoyant like what Mike Houston has been putting remarks on the report.
Finance Director David Facey should be ashamed of his position doing no credible input to improve the finance of the company as he is just the puppet of Mike Houston who has a monopolistic role in BRD. It should be Facey stepping down, not Gus. I believe Gus may have realise that he is just the CEO by position of Karveeli with no power to make decision. No, wonder anybody will give resignation in that scenario. But, my GOD. David Facey, very impressive.
Keras share price is having a free fall and hope our BOD are not acting as if like that they have done their job after buying few shares to make us feel comfortable on our investment at Keras with their skin in the game.
I am sure operations at Spanish Fork plant has been halted for over 3 weeks or a month by now despite rns on 5th of Nov. Although, Russell told that they are working to find the solution, it looks like a far cry for him.
We can forget that Keras has investment in Togo too. I hope Mr. Gozan and Russell are working on it and not waiting for Faure to approach them with his signature and stamp of certification for license.
It would be great if Russell could update us with information on the way that he is processing to bring the halted Diamond Creek on operation and the necessary steps that he is taking with the help of Country Manager and Togo Government delegates to obtain license to mine manganese in Togo.
Mike Houston has signed an agreement with Teichmann Group for £1.6m loan note subscription and another few hundred thousand pound still to come from placing. They can request Teichmann Group to revoke both the instalment basis agreement and instead ask for that money at once. Also, Teichmann should understand the financial difficulty that BlueRock is undergoing.
It is getting hard to understand how that Mike Houston and David Facey (Finance Director, the one who is always looking as if he is about to go for sleep in all his interview) is dealing with the company financial matters. They should both give RESIGNATION immediately, one for bringing the mine into closure by not following health and safety rules and the other for not implementing prudent financial planning causing financial distress in the company.
They have not even become successful in fully repaying few hundred thousand pounds loan (hefty interest charged) borrowed from former directors despite numerous placing and millions of pounds of earnings. On top of that, they have recently signed loan agreement with Teichmann at 14.5% interest per annum. Now, they want to use Delgatto to pay another 15% interest per annum. If they are going to use Delgatto, they will end up continuing paying interest for many years to come considering their working patterns.
Is that what David Facey is advising as Finance Director? Bull****!! He has been in this company for too long now and it's time for his replacement so that new one can come up with better ideas and initiatives to improve BlueRock financially. Otherwise, he will continue advising and supporting lousy financial decision with the help of Mike Houston and deplete the valuation of the company. So, they both should give resignation as they are no fit to run BlueRock Diamonds anymore.
Mike Houston should no doubt give immediate Resignation. Despite earning millions of pound through sales of diamonds in the past months and more money from placing, he is still creating doubts about the going concern of the company saying it could be hand to mouth to meet the working capital because of no tender on Dec.
Teichmann still need to pay Bluerock of the placing money. They can asked them to pay early considering the situation of the company plus Teichmann should know inside out of the company business being a contractor by now.
The best option for BlueRock is to sell the mine. The upgrade is almost done. I believe Karveeli mine will receive many multiple times offer the current valuation of the company. That is the only way shareholders values can be created. If they continue to mine, the operation will be only to pay their salary and for continuous placing eroding the value of our investment.
Department of Mineral Resources and Energy will not without any reason enforce them to halt the operations. This can be seen as another intentional non-compliance in health and safety rules from the company management (esp. Mike Houston) in order to bring the share price down.
BlueRock should have CEO running the company, not that Chairman. He should immediately give resignation because of numerous reason such as continuous raising of funds at lower price through placing and also giving favourable deal on every placing to Teichmann to pay on instalments without any interest on it, employing contractor (Teichmann) who does not comply with health and safety rules, buying second hand machinery equipment from its own company without doing open tender to get good deal from other companies, deliberate delay in the project completion and creating doubt in shareholders mind about company going concern.
I don't think this is the matter of FCA investigation? Mike Houston must be eyeing for a role in Teichmann Group once he become successful in selling BlueRock Diamond to them.
Both Mike Houston (as a chairman) and Gary Teichmann (as a contractor boss) should give resignation from the position at BlueRock Diamonds as they should be solely responsible for bringing the operation to halt by not ensuring the company is/were complying with health and safety regulations.
I hope they are conducting the necessary remedies to the mine so that they can bring the mine into operations as soon as possible.
Diamond sector fully recovered from Pandemic hit.
https://www.mining.com/alrosa-says-diamond-sector-fully-recovered-from-pandemic-hit/
It looks like both the sales of yesterday seems to be the one bought day before it. Hope they made the right investment decision to lose around 500 quid and make money elsewhere.
How about Don Houston and his team selling BlueRock Diamond mine? I am sure there will be competitive buyers in this buoyant diamond market where BRD could get good offer for it.
I believe Teichmann are not that much greedy to convert their Loan in shares while paying it on instalment.
Can this company remain under 50p until June 2022? I doubt considering the quality of diamonds they are finding and soon after that Q3 update along with starting of 1 million tonnes processing machinery with specially designed screener is published, who knows BRD can find bigger plus expensive diamonds to pay back that loan before that June 2022 (upon don Houston blessing).
Even with the arrival of small herd, BRD share price has the potential to leap forward.
I believe Teichmann will not be exercising its rights to convert its loan to shares when BRD share price reach 60p for a strike price of 40p.
Teichmann are lending the money on instalment basis (12 months starting from June 2021) and I think they will not convert until they provide the loan in full amount. BRD should have charged Teichmann an interest for allowing it to provide the loan on instalments plus for the share placings too in the past.
So, until June 2022, there (may) be no issuing of further shares. And with that in mind, when the BRD share price reach 100p will still make this company well below $15m.
Q3 2021 seems to be making of new record in the increase of revenue throughout BRD operations. We will definitely find out coming week.
Quality big Diamond are getting unearthed and October is estimated to start the planned production of 1 million tonnes per annum.
Directors must be busy preparing Q3 production reports trying to figure out the sort of information to include before publishing it which is soon going to happen.
Expecting some nice updates to be good enough to act as catalyst for share price to rise over a pound hopefully.
BlueRock Diamond will be giving rns this Friday to report the total sales figure for those four diamonds found in the last couple of weeks i.e. 9, 21.56, 58.6 and 14.3 carats.
There is probability as most of us has expected that revenue generation out of these four diamonds alone will cross $1m and when adding the August production, we could be seeing above or around $2m for this month income to BRD.
I hope there will be no going back to sleep anymore after full completion of project expansion.
There is no better time than now for Russell to start a dialogue with Faure when Faure himself is promoting Togo is open for business for international companies.
There is absolutely no need for Russell to think of anymore freebies to make an impression. Bribery is out of the tick box. So, it is now or never. If it is like many of us has speculated that Faure wants krs to give up, then there should be right compensation to krs for the amount of work, time and money invested at Togo manganese . If Russell can't have a dialogue with Faure, then he should make way for someone who can without hesitation.
There is an update on it at bluerock diamond twitter. Looks like there is a slip (always) on its expansion project.
Eventhough, after commissioning, we cannot expect massive rise in share price. There is a need for increase in carats production by achieving/exceeding the targets forecasted and I think early next year or after Q1 2022 would be the judgemental period, unless they started producing bigger and higher value stones like 39.34 carat Blue diamond that was sold for $40.2m (mistakenly by BRD) by PDL.
one of the reasons that can be guessed for Russell not willing to take action is the fear of suffering loss in his investment if it upset faure in the process. How long can he be waiting for the right time to make his move then? We all are worried about our investment but this uncertainty from Togo is rather causing negative sentiment the longer we wait for, dwindling the share price down. I am sure most of us would rather be happy to know the reason sooner for delay then waiting and suffering ... and still waiting.
Creating charity foundation, giving extra percentage for the country and appointing country manager, faure is not giving shiiittee about it despite him claiming Togo is the friendliest country for doing business. So, if fear of upsetting is the main reason, then he should step down and let the new comer mend the relationship with faure.
You are the one who keep howling you are sorted after getting good return out of calidus spin off. I think you may be happy from it. But not all shareholders are happy leaving their money stay idle in krs for years and years to come.
Maybe Young Blaize need to give 3 months notice before leaving his current job at Rio Tinto considering he is the Investment Project Manager according to his linkedin. Otherwise, he is taking KRS position as inheritated where he is not give a **** about it.
Russell himself is having good (may be bad??) time travelling sometime to Togo and Utah wasting money and taking a salary out of it plus giving a job to his wife on the expenses of shareholder money. I mean how could you take salary out of the company who is not even making a single penny. I bet that £1m raised must have become half by now and no new project is coming out of that money raised.
It would have been marvellous if Faure has mentioned about KRS as UK private business in Togo and if Boris was given a slight clue about KRS existence in Togo. Unfortunately, Russell may not have used initiative to contact Boris aide to inform on KRS suffering for the process of creating business in Togo. In fact, Russell may not have any idea about Faure plan to travel UK last week because he may be busy travelling Togo (rumours few weeks back) and USA (from the last rns - "It is great to be back in the mountain....".
for World Education Summit and will be meeting Boris to discuss on the prospect of Togo joining Commonwealth.
Will Russell take a chance to invite Faure to his house for tête-à-tête on the prospect of getting license for manganese mining ?
Unfortunately it was Petra diamonds who sold 39.3 carat to De Beers and Diacore for more than $40 million.
BlueRock Diamonds? Naaahh
Bull**** Ian Walker- make sure your story are correct before posting.