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Could be next multibagger if contracts are confirmed. It is still well oversold like AFPO was before it ten bagged. Great time to buy in now.

Looks like the sp is ready to blast off !

It looks like the rumours about contracts in Ethiopia could well be true: Atlas Development (AIM, NSE: ADSS) the Kenyan headquartered, African focussed support services and logistics company, notes the movement in the Company's share price. As noted in the Company's interim results announcement on 17 September 2015, in light of the current state of the oil and gas market, the Company continues to implement initiatives aimed at further diversifying the Company's offering and identifying new sectors of operation. In particular the Company is targeting increased workflow arising from potash development in Ethiopia. Further announcements will be made, if appropriate, in due course. ** ENDS **

"Firstly, the terms set out reduce equity dilution over the short term as we have not even had to re-issue the former Lanstead owned shares which Paragon re-purchased and then cancelled earlier late last year (see release 12 December 2014). When as anticipated we complete on the agreement envisaged by the term sheet in the next few weeks, I believe it will clearly confirm that Paragon's Board have delivered on its promise of respecting existing shareholders and working exceptionally hard to deliver the highest possible value to the early stage shareholders for the journey to date and beyond. In addition, we feel we would have a strong and committed shareholder base for both the long term and for the successful expansion of the business, with no discernible share overhang in the market." I don't think Manduca would say this if the Gradinex/Spreadex stake was going to be sold into the market. The shares are cheap at the moment so grab them while you can. I picked up an additional 50k shares on Friday as I was very happy with the contents of the RNS. I also think Paragon has one of the best leaders on AIM and I am confident he will create significant value for shareholders. Looking forward now to receiving confirmation that the contract is signed and then moving full steam ahead towards production.

The $8 million is not a loan. It is an upfront payment in exchange for a revenue stream with the option of conversion into shares. The 7% is not purely interest as there is no capital to pay back. This deal is far less risky than the original deal from ITGT as it depends upon the performance of the company.

"Mothae purchase price reduced to US$6.5 million from US$8.5 million" That is perfectly clear - there is no doubt that the purchase price has been reduced. Also as a further concession, the balance of $4.5 million will be paid in stages. A $2 million reduction (23.5%) is fantastic news.

Just added 50k shares to my position. Great buying opportunity at the moment. I have no doubt the funding will complete after Manduca issued that RNS

Don't forget the $2 discount for Mothae guys. That should boost the sp considerably on its own. Full steam ahead now. Choo choo.

Happy days! Even managed to get a $2 million discount on Mothae. I knew Manduca was streets ahead of TW, Doc and other cronies. They just wanted cheap shares. Feel sorry for anyone who sold due to those childish rumours. This deal puts the company on a very firm financial footing. The share price will take care of itself now. GLA

Recently TW played the same trick with Scancell and wrote an article saying they were arranging a placing. It then transpired that Scancell were not in fact arranging a placing which left TW with egg on his face

This is what was written in an RNS which suggests ITGT had agreed to fund the development of the mines: "The acquisition cost of US$8.5 million and the additional US$5 million development capital and US$3 million opex provision required to bring Mothae into production will be financed in the form of a loan note from International Triangle General Trading LLC (`ITGT'), the terms of which have been agreed subject to contract, and similar to the funding for Lemphane. Such funding is in addition to the planned US$12 million debt and equity package from ITGT which was announced on 28 January 2015 to bring Paragon's Lemphane kimberlite project into production in 2015."

TW did the same with Scancell recently, saying they were about to do a placing when they announced results. A few days later he had to eat humble pie and say that in fact he was wrong and there wouldn't be a placing as the company had enough cash to last until the end of 2016. I think Manduca is very close to arranging the finance as he is only talking about a delay of 7 days. I think if there was any major problem he would of had to given himself more than a week to conclude it .

Interesting blog post. Thanks for providing the link. I also recall the CEO saying in his most recent interview that he expected the Cyber division to be profitable by the end of the year.

Excellent RNS. The company is making good progress as we hoped. I think we will get a string of positive updates and the share price will look after itself.

Floated at 20p five years ago by acerbic entrepreneur Frank Scolaro, who still has 12%, Paragon shares now trade at only 5.3p, against a12-month high of 6.42p and a 3.08p low for a £14.7 million AIM value. Wrapping up the funding could bring some cheer, as could an upturn in gem sentiment. From shareprophets website

Paragon Diamonds in project funding talks By Robert Tyerman | Wednesday 23 September 2015 - See more at: http://*********************/views/15219/paragon-diamonds-in-project-funding-talks#sthash.Ud16oxPk.dpuf Gem hopeful Paragon Diamonds (PRG) is celebrating two reports by independent consultant MSA Group on its Mothae project in the southern African kingdom of Lesotho, as it negotiates funding with several potential providers, besides hitherto favoured backer, International Triangle General Trading (ITRGT) of Dubai, for its $8.5 million (£5.6 million) acquisition of the project. Guernsey-based and AIM-quoted Paragon, which is developing its flagship Lemphane kimberlite deposit in the same area, recently received approval from the Lesotho government to buy 75% of Mothae from Swedish tycoon Lukas Lundin’s Lucara Diamonds and says the MSA studies ‘exceed management expectations’ for Mothae, which holds an estimated 39 million tonnes of rock with 2.7 carats per hundred tonnes. According to MSA, Mothae, which is close to fellow AIM counter Gem Diamonds’ world-class Letseng mine, has the potential ‘significantly’ to increase its net present value of $115 million. The studies suggest average diamond values perhaps rising to $2,000 a carat, and suggest possible scenarios, including annual output of more than 40,000 carats from two million tonnes out of 20-plus million tonnes of rock at more than $40 a tonne. In January, ITGT, founded by dynastic Gulf entrepreneur Saeed Al-Falasi, agreed in principal a $12 million debt and equity package to fund the first phase of development for Lemphane, which holds an estimated 48 million tonnes of kimberlite. The agreement, which Paragon points out remains ‘subject to negotiation and contract’, would bring two ITGT representatives onto the board, though Paragon now stresses it may agree a funding package ‘with a party other than ITGT and on terms that differ from those which have previously been announced but which may prove to be more commercially attractive’. Paragon envisages extracting one million or more tonnes of kimberlite over two years from Lemphane, which it has suggested could hold more than one million carats with a potential value of more than $1.5 billion. The company and hopes to find at least 100 diamonds of more than nine carats each, with a few exceptional stones of more than 10 carats apiece. Steered by entrepreneurial executive chairman Philip Manduca, whose Titanium Capital owns 22% of the company, Paragon, which lost £13.3 million last year after an asset impairment provision of £12.5 million, says it is targeting $36 million of revenues on the first full year of operation from its two projects, which are expected to start producing this year. Although the rough diamond market has recently been weak, Manduca has enthused about the gems’ potential as an investment medium or ‘store of value̵

A quick look at the chart shows the next target of 14.50 which was the previous significant high of 13 July. Next target will be the gap fill to 19.85 (gap caused by the placing on 9 May). There is potential for plenty more upside here. At the moment it is only recovering from lows made over the summer.

I thought I would post Zak Mir's technical analysis as the website requires registration. I think what he says is very plausible: "For some reason it did actually seem that Falanx Group shares had been treated rather unfairly by the market going into this week, although it should be said that the subsequent move to the upside will have surprised the bulls in a pleasant way. This is particularly so considering that stock market conditions remain extremely jittery. The present situation after a couple of decent up days shows the way that the rebound came in the aftermath of bullish divergence in the RSI window, something which has been playing out quite well over the course of the summer. The best way forward now is probably to take note of the way that the shares have only just been on the receiving end of a MACD buy cross, something which rather implies that the recovery here is still at a relatively early stage. The target over the next 2-4 weeks is therefore seen as being as great as the top of a broadening triangle in place on the daily chart from June, with its resistance line projection pointing as high as 18p. This could be achieved over the next 2-4 weeks, but with the big prize being that if this can be reached relatively quickly we could even see the 200 day moving average at 23.81p delivered by the end of next month. Such a scenario could pan out even if the bear run at Falanx Group then resumes after that." - See more at: http://www.shareprophets.com/views/14752/zak-mir-s-bull-call-of-the-day-no1-falanx-group-initial-18p-destination#sthash.spI0pEMo.dpuf

The share price is holding up very well. Doesn't seem like there is much appetite go sell at this level. I'm looking forward to next week. I think this has the potential to go much much higher.

It is worth noting that Sino Gas, which owns the neighbouring assets to Leyshon in China, has a market capitalisation of around $250 million based on those assets alone. LEN's market cap is a paltry £14 million so the upside could be huge if they manage to show that the gas is commercial. They have already shown that well ZJS 5 flowed commercially. Given the cash holding and the calibre of the new directors, the risk to reward ratio seems very enticing.