Member Info for MisterPositive

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 ?

Email sent today. Yes I know RAK, Fujaira also. Sorry rushing into a meeting. Will catch up bit later.

http://www.cnbc.com/2017/04/04/pink-diamond-auctioned-for-record-71-2-million-in-hong-kong.html Do we think Lace Diamond mine has large 59.6 carat Pink diamonds ?...probably in the deeper mine area.

CRB, are you in Dubai or Abu-Dhabi ? I know Valency is in Dubai.

Valency, Have just seen your latest post and picked out key points. Have made notes, but not drafted the email yet. Will send it later tonight. Want to make the content razor sharp, yet penetrating enough for PL and Deloitte to see the options / suggestions presented in a clear and simple to follow manner. Like you said, this race is not over yet, we have other horses in reserve. CRB, Valency - will hook up with both of you once this thing is done. I will contact you nearer the time. Best wishes all.

Thanks folks. Saving DCP (for all of us) and to restore it to its true glory has now become a challenge for me. Not letting go of USD $2 Billion worth of diamonds without a fight. I have a certain turnaround vision for DCP and see this a 50p stock in next 2-3 years subject to successful implementation of the plan. I will draft an email to PL today, putting forward the suggestions discussed here. Will also throw in the "Rights Issue" alternative option if that can be done after the latest developments. Want to give him different options to think through that he can also discuss with Deloitte. Will give it a few days for a response and take it from there. Will plan a 2 week trip to the Mid-East after a response from PL. If I can get a meeting with SWF contact, I will still need to convince them and present very attractive risk / reward scenarios hopefully that they will accept. Only then we can relax. Good Luck all.

Valency, yes it's good that you recalled your Nov'16 chat with PL. Most certainly contractors cost will be lower than AMCU demands. Can see following benefits: * Immediately available (subject to requisite skills needed) * Contractors can be recruited directly from the Labour market (quick hire turnaround) * Can hire them either on Daily wages Or Fixed term contract for say e.g. 2 months until restart of mine. * Can also offer contracts on Temp-to-Perm basis; creates certain level of loyalty and provides some incentive for the contractors to work hard and secure 'Permanent' employment with the firm with no AMCU membership, etc. Once labour issue is resolved, IDC loan and Bond re-structuring can be bolted on as they had already agreed in principle and were simply awaiting outcome of the AMCU talks. Now if Deloitte take AMCU out of the equation and replace the "Contractors" as the labour force needed to help with care & remediation work, then surely BRP rescue plan can be published before mid-May along with PCF funding sorted also. Definitely should be proposed to PL. Makes lot of sense to me. Thoughts welcome.

tozerk.....LOL.....no i'm no Henry Kissenger....I have a big holding here myself. Let's just hope I can arrange a bl00dy meeting with them lot......no guarantees, hence want things to solve via normal route in the first place. Most importantly hope they recognise me after all these years if those buggers are still in the same office.....LOL

MS, Yes, it's a shame that the SA Govt. have presented themselves as highly incompetent. Labour Union laws should have been overhauled 5-10 years ago to create the right balance in order to promote Foreign Direct Investment into SA.

Yes, frustration is mutual all round. AMCU shamefully have dragged this out far too long, otherwise Lace diamond mine could have been very close to up & running by now. Another 6 weeks of suspense to go through till mid-May before final conclusion. I actually thought we would have a deal agreed by now, but enough of this nonsense. I am going to try and make few calls to some of my old friends in the Mid East and may be politely ask one of the Sovereign Funds to invest $50m - $70m in here and pay off every creditor to become Debt-free. Will only try my best to broker a deal if I can. So that we can restart mining operations ASAP and take LACE mine to its glory.

...continued... 5. Constitutional Court (imho) would not simply send Lace mine into Administration just because being stirred by the AMCU shenanigans, while majority of other parties & stakeholders work towards a mutual solution to recommence mining operations at Lace. Look at 22 Feb 2017 Constitutional Court ruling against AMCU vs Gold miners. https://www.businesslive.co.za/bd/companies/mining/2017-02-22-constitutional-court-throws-out-amcu-strike-appeal/

Well, not the kind of RNS we were all hoping for. Despite feeling little depressed for now, still think there is something going on in the background. Some folks today have made some good points that I also share. My own thoughts are below : 1. Why appoint another BRP alongside Deloitte?...if the company was headed for an outright Administration? 2. AMCU - Retrenchment effective 3 Apr (today) means laying off all employees with some compensation. Corporate retrenchment normally occurs when company is looking to reduce payroll or cut down expenditure. Now that AMCU is taken out of the equation, can the company not employ other workers for the 'Care & Maintenance' of the mine to commence ? Finance needs to be in place before the Business Rescue Plan is published and implemented. 3. IDC and PCF - AMCU talks breakdown affected IDC loan agreement. May be the new BRP along with Deloitte will now have to either rework the PCF calculations ASAP and / Or may be call upon the 'Strategic Investor' to step in on agreed terms. Revised PCF (funding) figure will now probably include employee compensations to be paid out depending on existing cash balance in the bank. 4. Debt-restructuring should not be an issue, as parties previously had already agreed to roll it over. Going forward (if all works out), DCP will be better off without any AMCU overhang once care & maintenance of mine commences before Production ramp up. imho.

Well we might still get an update by Fri 31 March? Or may be next week......