Member Info for Otherwys

I would support this proposal; I currently own 750,000 shares and would take up maximum entitlement; I think your suggestion comes in at a 1 for 4 issue (120m new shares vs current shares in issue c. 480m) in which case I would be subscribing for 187,500 shares under this proposal. In fact if there were the opportunity to subscribe for more you could put me down for 500,000 shares minimum.

Something that I think has been missed. The board is convening a general meeting asap, in part to increase authorised share capital to ensure the BOD have the capability to issue enough shares to satisfy conversion of the Rasmala facility. If there isn't currently enough authorised share capital to allow them to satisfy the Rasmala facility (£700k worth), then there isn't enough authorised share capital to allow them to raise an additional £2.5-3m from issue of equity. So - until the GM, there will be no fundraising by way of equity placing. And if the BOD don't seek approval from shareholders at that GM to massively increase authorised share capital, then we will know that the BOD is not looking at equity funding for the extra £2.5-3m. Any further fundraising in the short term will either be via debt or takeover/merger/sale. It will be a very interesting GM. Might just have to turf up for it. GLA Otherwys

You'd certainly think the BOD would be able to stump up £500k between them to keep the show on the road.

Instead of buying shares off the market and facing the risk that DCP can't raise the cash it needs in time, would there be merit in any private investor with funds available and the appetite to invest contacting the BOD and offer to participate in the fundraising - either through purchase of NEW shares at current price, or through participation in whatever convertible bond issue is being put together? That might give the company a stronger chance of pulling through this, while still getting an investment at rock bottom prices.

Valency, What a wealth (or should I say a mine) of information - thank you so much! You are an asset to have on this board. I clearly have a lot to learn about this business, but still glad to be invested :) Best regards Otherwys

This is probably a very naïve question so apologies in advance... We have water ingress, and at the same time lack of water is a constraint on our operations. Is it possible to capture the water that's causing us a problem to help alleviate future water constraints? In which case, is it possible that water ingress could in some small way have a silver lining? GLA Otherwys

Adastra, I am curious as to how you have assessed that sentiment "switched from negative to positive at about 15.50 yesterday"? Could you explain the information that leads you to that conclusion? Many thanks Otherwys

That mineweb article was very enlightening: thank you CRB14 for sharing it. http://www.mineweb.com/news/diamonds-and-gems/company-in-focus-diamondcorps-lace-diamond-mine/ All being well we are looking at return of capital to shareholders following commencement of block caving - i.e. 2019 at the earliest. In terms of share price, the first marker must be short term stability of operations and profitability; but after that I think the next clear point for a step up is a few years away (barring discovery of a few large lumps of fancy ice). Looks like I have a bit longer than I thought to build up my stake :) GLA Otherwys

Up to now production has been from mine development which has required blasting of K6/K8 low grade material (<10 cpht) which has diluted total diamond production. From now on 30,000 tpm x 31cpht = 9,300 carats per month. Less low grade / waste material as we progress into the block = upside on that. Of course mining risks remain, but this all looks good to me. Happy to be invested here, GLA

Well price of zinc is doing pretty well lately... http://www.infomine.com/investment/zinc/ ...but here's hoping there's some other good news on the way too :)