Member Info for MisterPositive

Mr.P............................£20k Otherwys..................£10k Note: Please copy and paste old list, then ADD your name and £ figure.

Folks, wanted to use this weekend just as a guide to how much we as "Private Investors" can commit if the DCP were to propose 'Rights Issue' next week available to all shareholders including Rasmala & Majedie. I will start the list with names and £ amount against it. Please add your name and £ figure next to it. It's just a hypothetical 'Total' amount at this stage. Will call Panmure Gordon on Monday to get an idea as to the requirements / process for the Rights Issue if DCP were to propose it. Whether they will need to issue a prospectus ?...etc. or simple RNS will suffice. Thanks ALL in advance for your help.

Proposal: Open Offer Or Rights Issue: 120m shares @ 2 pence = £2.4m (USD $3m) It's more of an Example to get to the target USD $3m fund raise. Qty of share issue & offer price can be modified to get to the $3m target. Personally I would raise little over $3m as a buffer.

alligin....I quoted 2p as a hypothetical figure to keep it attractive enough for sufficient take up of rights. Proposal: Open Offer Or Rights Issue: 120m shares @ 2 pence = £2.4m (USD $3m) Final details will depend on target fund $ raise....from what I have gathered so far USD $3m is the immediate cash amount needed to restart operations at Lace for de-watering, repair, maintenance, etc. Don't know if that includes the £1m that was raised earlier pending admission of shares to AIM. More detailed projections for the Capex for next 3 years might be published in the Business Rescue Plan by the practitioner (I spoke to her briefly today). She is waiting for reply from PL. In the meantime (over this weekend), I will just try to get a list going for all us Private Investors who can commit certain amount of funds for the take up of our 'Rights Issue'. Don't know if it's going to be underwritten by Panmure, etc. I called PL today but he was out of office. Will drop him a note tomorrow to get his thoughts on the 'Rights Issue' or an OPEN offer for both existing and "New" investors to participate.

Yes, off course VED produces: Aluminium, Copper, Silver, Iron Ore, Zinc, Power. Oil & Gas - Average Gross production: 184,585 boepd.......(Q4 FY 2017)......11 Apr RNS Zinc stood out the most, especially after today's stellar "Hindustan Zinc" Q4 and Full Year results RNS 🙂

Aluminium +2.3% Nickel + 1.4%

http://www.investegate.co.uk/vedanta-res-plc--ved-/rns/hzl-announces-fy2017-results/201704201146568730C/ Hindustan Zinc Ltd. "All-time high mined metal & silver volumes; record EBITDA and Net Profit". Just had a quick look at Financial & Operational highlights.....quite amazing results.

http://www.reuters.com/article/cairn-india-ma-vedanta-idUSL3N1HJ4H7 Indian metals and mining group Vedanta Limited said on Tuesday it had completed its buyout of oil and gas explorer Cairn India Ltd. The deal gives Vedanta Limited, the Indian unit of diversified energy group Vedanta Resources PLC, access to Cairn's $3.5 billion cash pile, boosting its finances.

I am guessing here but could the....'Strategic Investor'....be one of the interested parties who made a cash offer for the company back in Oct / Nov at a premium...

Got half the picture so far....after getting answers to my pending questions from the practitioner, might get the full picture by Friday. Good Luck All.

Some more update below from Lebo. Have asked some more specific questions, awaiting reply. Let me lay out key points so far, then people can jump in with their thoughts and to gauge participation and next steps. 1. Rights Issue Can be done during the Business Rescue process. Immediate requirement is R40m (c. $3m) to cover the dewatering of the plant, overheads and repairs and maintenance costs to restart operations. She needs to prepare a business rescue plan and get it published. Once adopted by all affected persons we can implement the rights issue. (I have asked at what stage does practitioner plan to publish the BR plan?). Practitioner will need more clarity and certainty whether 'Rights Issue' will be taken up in Full, by whom, how much, etc. (this will be us Private Investors offering our commitment to the broker to participate/ subscribe for any proposed Rights Issue, e.g on a 1 for 1 ratio). Have asked few other questions, whether Prospectus is needed or just simple invite via RNS will suffice? 2. Block cave mining USD $40m investment will be needed in future months / years to get to the 'Block Cave' mining level, to extract the more valuable & precious diamonds to reflect true value of the Lace diamond mine. Source of funding to get to this stage needs to be described / published in the Business Rescue Plan (my guess) as a viable plan for the company to operate profitably going forward. May be the Strategic Investor(s) will put up the $40m investment needed here ?...have asked the question. 3. Strategic Investor Discussions are ongoing with few interested parties with hopefully firm offers to be received by end of April. In my opinion, practitioner or DiamondCorp will announce the outcome as soon as the investment details are finalised. Let's hope it's sooner than later. My thoughts: Will get better idea, once I get answers to my latest questions. In the meantime immediate cash need seems to be for USD $3m (£2.4m) to commence mining operations at Lace. May be a Rights Issue of 120m shares @ 2p? ......thoughts welcome. May be in the meantime we can work out how much we can participate, e.g. I personally would take 1m @ 2p = £20k.

I don't follow them as hard n fast....but just to get an idea of trend reversal. Have seen similar patterns on other stocks, mostly after 3 Gaps down, a Buy signal is triggered. Let's see. Might see that 'Buy' signal after tomorrow's close....who knows. Price looked attractive enough to me, so added some to my portfolio.

https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=ved.l Last Pattern: BULLISH THREE GAP DOWNS Pattern Description This is a four day bullish reversal pattern. It consists of three consecutive days each gapping lower on the open. After Three Gap Downs the market becomes extremely oversold and ready for the reversal of the current downtrend.

Spoke to Ed Dyer yesterday, who said new BR Practitioner (Lebogang Mpakati) is dealing with things now. Called Lebo but she had left for the day, as it was bit late in the evening, so I sent her same email that I sent PL few days ago. Got a reply but still few bits not answered. Have asked for more specific details....awaiting reply. Bottom line is they are still pursuing the 'Strategic Investor' and hoping to get firm offers in by end of April. Funding is still needed - I have asked for specific $ amounts to get a better idea of the funding gap. Again asked for the 'Rights Issue' option as a quick route to raise funds and re-start mining operations. Will report later once I have more details.

http://www.mining.com/iron-ore-price-free-fall/

Hi Valency, Not yet, planning to call them on Tue after the Easter long weekend. Will keep you posted.

Valency, Agree. I had same thoughts about the second practitioner, being a local chap, might have more sway during negotiations. As long as we can get a deal done, so everyone can move on. Constitutional court seems to be playing a more positive role here (as you would expect) in trying to make the right decision in the wider interest of ALL stakeholders involved in this genuine Lace mining operation.

tozerk, there might be an update next week or may be after the long Easter weekend when UK market opens on 18 April ?

Yes, looks like the interest due on 14 Dec and 14 Mar (along with any penalty interest) will be paid only after the Business Rescue Plan has been concluded. Might get more specific details in an RNS, e.g Outstanding interest that is being accrued OR could it be Capitalised and added to the Principal amount ? Also whether it means once Business Rescue plan is actually implemented (not just published). I would expect more clarity to be provided in coming weeks. Today's announcement was just a very 'High Level' notification of a successful rollover. imho

Dropped email to PL today covering following headings with all the suggestions & feedback discussed here. 1. Rights Issue 2. AMCU / Retrenchment 3. IDC and PCF 4. Debt re-structuring 5. Strategic Investor Have asked PL to forward it to Deloitte also or share the contents with them. When is the Bondholders meeting ? .......is it sometime this week ?