Member Info for MisterPositive

In my opinion Section 54 closures in DCP case came across as abuse of power by the DMR. There was no case for section 54 when only the truck caught fire, in my honest opinion. There was no case for total closure of mine operations. I wonder if these people at the DMR are even properly qualified OR understand the implications of such rash decisions to pump their egos. imho Section 54 closure resulted in unnecessary closure of mine and the resulting almost 50% drop in share price. This then caused the convertible Debt party to walk away from the deal leading to further drop in share price. I know DiamondCorp has a case against the DMR, but will probably not pursue that route due to BR priorities, which is more sensible. But company needs to be compensated for the ripple effects of that stupid section 54 closure slapped by the DMR. imho Any way rant over.....May be one of the bigger companies should face up to this bullying of the DMR and set the records straight....imho

DiamondCorp (LON:DCP) Suspended – DiamondCorp raises £1m DiamondCorp has raised £1m from investors. The placing is conditional on “Admission becoming effective and the Group concluding a labour agreement with the Association of Mineworkers and Construction Union that is on terms approved by the Business Rescue Practitioner, on behalf of LDM, and by the Board of DiamondCorp.” The new shares have been placed at a price of 4 pence per share and with one warrant per new placing share exercisable at 1 pence per share anytime between 1 Novermber 2017 and 30 June 2019. Conclusion: The placing gives new confidence over the company’s debt restructuring and its ability to return the Lace diamond mine to production. The company remains in a state of ‘Business Administration’ following the recent fire and subsequent flood which forced the closure of the mine. Closure of the mine during its critical production ‘ramp-up’ stopped cash flow generation when the company had spent virtually all its cash and was at its most indebted. We expect the mine to reopen shortly and for the shares to resume trading sometime soon.

Valency, appreciate your detailed analysis. My thoughts below on next steps : * BR practitioner will now list all outstanding payments due in order of priority, Secured vs Unsecured, etc. * Insurance claim funds will boost cash balance ; gives better cashflow visibilty and timing of future payments * Back Wages - full or Part payment ; Accrual of some of Back Wages will be prudent & can be paid after ramp Up * Standstill agreements - some were deferred to 2018 ; some till end of BR process is completed (whatever date?) * Labour Talks - AMCU will need to reach a compromise to secure jobs OR face total lay off of work force (should be no brainer.......but they will try to wiggle out maximum for union workers to look like heroes). Outcome of AMCU labour talks with BR Practioner will decide next steps in Phase 1 implementation. imho. Let's see when we get the wage talks update.

That's great. Yes I was there twice last year. Next trip planned for may be in Feb / March this year. Will let you know. Yes always need few Cold / chilled ones there. Will be great to catch up. Mr P

Valency, appreciate your thoughts. I have emailed some suggestions to PL for the talks. Agree, next hurdle is the labour talks & to reach an amicable deal with AMCU in order to restart mining operations, and repairs ASAP. Phase 2 fund raise should be pretty good. Have also requested PL to ensure 'Prospectus' is published for Phase 2 to avoid issues private investors faced during Phase 1 as I am looking to subscribe for about 1m or so. Best wishes all. p.s Where abouts in Middle-East are you? I visit that region almost annually, sometime twice a year.

Very impressed how quickly Paul replied to my email and in such a professional manner. Glad to have PL as our leader. Long & short of 'Placing shares & Warrants' issues that all private investors faced, was due to 'No prospectus' which is a requirement when offering shares to the public. To get prospectus would have taken 1 week minimum, time that company did not have. This is from response PL got directly back from Panmure Gordon.

Valency, no worries mate. Sent email....Besides disaster averted Company raised £1 Million today. Thank God for that. Best wishes all.

http://www.investegate.co.uk/diamondcorp-plc--dcp-/rns/results-of-placing/201701201600017681U/ DiamondCorp, the Southern African diamond mining, development and exploration company, announces the completion of the Placing announced on 13 January 2017. The Company has raised gross proceeds of approximately £1.0 million through the Placing of 25,412,582 new Ordinary Shares at a Placing Price of 4 pence per Ordinary Share with attached Warrants on the basis of one Warrant for every Placing Share issued. The 25,412,582 Warrants will be exercisable at 1 pence at any time during the period commencing on 1 November 2017 and expiring on 30 June 2019

ploudon@diamondcorp.plc.uk called the company they use .plc.uk

Valency, I copied and pasted this from your message....Is below the correct Email address ? ploudon@diamondcorp.co.uk

Folks, have today emailed Paul suggesting few things. Will report back once I get a reply. Also raised the frustration shared by fellow posters in our aborted attempt to subscribe for the 'Placing' shares & Warrants, incorporating your feedback. Let's hope for the best.

Valency, why does the broker have an issue with Warrants. We get FREE warrant attached that will only be issued by the company once our placing shares are registered. Today we are only applying for Placing shares @ 4p. Warrants can only be exercised @ 1p from 1 Nov 2017.....so if I am getting 300k shares @ 4p today for £12k......with my FREE 300 warrants sitting for next 10 months. Come 1st Nov only then I pay them £3k to convert my 300k warrants into 300k Ord shares @ 1p exercise price. As a transaction Warrants don't kick in until 1st Nov. Unless I am missing something here ?

CRB, hang in there buddy. I understand the concerns.

Valency, thanks for providing the email address. Will drop him an email in next half an hour or so. To any holders in SA, will appreciate feedback / thoughts on below please: * Is there no TV or Press coverage in Newspapers etc on the ongoing AMCU talks? * Why has SA Govt not stepped in to mediate a labour deal to secure jobs and also earn some browny points?

Going forward I would like to engage more with Paul Loudon but first need to get this mine up and running ASAP. Do NOT under estimate the power of the LSE boards, we can achieve a lot more than people might think. We should be able to take this company to 20p - 25p per share by next Christmas but only after the mine is back in operation. Have a plan that needs to be executed over next 10 months. Does anyone have PL email please ? IMHO

Valency, Appreciate your reply and update mate. Just need to get agreement / terms sorted with AMCU to move things forward. Best Wishes.

tozerk, Think its commitment by "Your" broker to 'Panmure'. When I spoke to Tom Salvesen at Panmure, he said just tell your broker how much you are willing to commit, Your Broker then needs to inform Tom at Panmure and confirm no.of shares applied for and £ amount etc. As per the 19 Jan, RNS today: commitment date..........................20 Jan settlement (payment) date..........26 Jan

I just read the RNS again......and in my personal opinion, Effectively the Placing shares & Warrants (combined) deal seems to be quite attractive: 1 Placing share @ 4p each 1 Warrant @ 1p each ------------------------------ 2 shares @ 2.50p ------------------------------ Effective 'AVERAGE COST' per share @ 2.5 each, IMO is an excellent entry price for both new investors & existing LTH. Given the prized asset this company has, Lace Diamond mine with USD$1.5 Billion worth of diamonds. P.S: You get the warrant attached FREE and pay 1p only when you exercise it into 1 new Ord share. e.g. if the Share price is say 10p in about 10 or 12 months, you are well in profit on your warrant (10p -1p = 9p Profit) or on a combined (Share + Warrant) basis (10p - 2.5p = 7.5p Profit). Scenario: Either way 'Investors' should benefit but ONLY if the mine is back up and running. For that company needs to raise £1m cash urgently. We don't know how much 'Institutional Investors' are willing to subscribe, lets say they collectively put in 900k, we will then be short of 100k. That's where we as PI's can help and chip in with say £10k - £12k each or whatever amount you can afford (there is no max limit) to make the shortfall rather than leaving it to chance. Deadline: 16:00 Hours, 20 January 2017 DYOR, IMHO.

Just spoke to Tom at Panmure. Have to call my broker now to confirm my commitment as how many shares i can afford. Apparently their is no limit. You can subscribe for as many as your budget allows. You can do it only via your broker. Next steps: 1. Contact your personal broker (giving them amount you want to subscribe) 2. Your broker needs to contact Panmure Gordon to place order & give commitment of £££ Panmure Gordon Tom Salvesen 0207 886 2904 P.S: If you want to get your hands on these at 4p (with 1p warrant) then need to act quickly before book building closes tomorrow. Lets do it folks. Best wishes & Good luck all. MP

KB....nice thought....but don't think it will work. Besides at present all seems to be dependent on AMCU talks, there might be no company next week, who knows. Might get more details by close tomorrow. Looking for some good news on AMCU front......Let's just pray and hope for the best. Best wishes.