Member Info for perroverde

Ghaghoo! This is brilliant move for both Vast and for BOD. I happen to know a bit about this mine having looked at it a while back when Gem started having corporate difficulties (for other reasons). it’s a great state-of-th-art mine, Gem spent well over $100m on it, partly funded by major international banking institutions (big tick in the box too). It’ll need a few quid spending on it to get it back up and running (but nothing daft or particularly time-consuming and likely easily debt-funded). Together with James Campbell’s expertise this is truly World Class and a game changer for both companies, be in no doubt!

That is quite an RNS. Ghaghoo. Brilliant!

Superb news. I'm reliably told that to find one stone of that size/type in a reverse circ drill of that size and nature would be deemed 'interesting' (and fairly unusual). To find four.... Then there's the rest.
Looking more and more likely that we could have a 'Mars 2' on our hands.

Hi Echo. Yes lol

Mr Carats i don't think the sale of one specific stone, even for 40m, is likely to be the catalyst of a re-rate. What's needed is a few of these for sure, but more importantly some visible meaningful positive cashflow which will demonstrate that the company is back on an even keel and can service/reduce the remaining debt. Remember it was generating $100m+ per annum not that long ago from basically the same mines (Williamson notwithstanding). The combination of recovery in Diamond prices plus production ramping back up again, and Williamson getting back on stream would help at the margin should all bode well for this in coming months.
Hopefully the start of the recovery will be seen in the upcoming results and will start to reflect in the share price. As things stand it's still priced to fail relative to its past valuations IMO.

Well its a lot of debt repaid!

Yes if the ‘conjoining’ blows prove good we are looking at at the very least a ‘mini Marsfontein’ (ie a multibag either way amd a multi-multi bag if really good). And yes of course James is right that it could take a while to dig it all out but confirm of economic resource would be enough to boost things massively. Fingers x’d!

It’s perhaps ironic that just as I was reading these posts an LSE disclaimer popped up on my phone saying ‘you should consider whether you can afford to take the risk of losing your money’ - perhaps something the derampers here should take note of. It’s a high risk profile here with massive upside if any one of the moving parts comes good, and with a £3m mcap it’s basically priced to fail in any case - certain cash shells I could name are valued higher than this. So have a good look at the projects (or roll your dice!), and as the LSE disclaimer says, consider whether this risk profile is for you.

MrCarats - agree. Roll on 21st July and we’ll see!

Yep! Under that radar, just where I like it!

Echo - yes, James tweeting again and I think sample results due this month, but I gather covid is still an issue in RSA so yes also maybe a bit longer. I'm quite happy to wait.

Earl - Teeling is well into his 70s, is pretty well off financially, has previously indicated to some shareholders that he has been planning to step back from the frontline. He still has his shareholding, and remains a NED. I wouldn't read too much into it, but if you wanted to you could also say that he's handed the reins over to DH who is much younger and better placed to handle anything 'big' which might be heading CLON's way...

Eatstocks - I hear your view but personally I think that although some of the debt-to-equity holder 'syndicate' may have been 'taking the hit' and selling to retrieve whatever they can from the situation asap (some had maybe already written the debt down), as institutions they all have a duty to their own shareholders to maximise returns, so given their benefit of their closeness to the management and knowledge of the on-going business (closer than you or I, anyway) are likely to be encouraging Petra management to maximise short-term returns and cashflow to 1) speed up repayment of remaining debt and 2) boost the share price to nearer levels of their break even price at which the deal was done (3.4p). Therefore I too might be wrong, but I think they'll be digging away feverishly to maximise revenue/cashflow (taking advantage too of boosted diamond prices) so results in coming months could well look way better than expected. Add to this the previously-mentioned resolution of the seized stones, re-instatement of the shut mine and of course the big stone finds which happen every so often.
It's still priced to fail IMO, I'm still giving it the benefit of most of the doubt and holding on for a robust recovery in coming weeks/months.

Don't forget that the 'Q4 FY2021' results should be due in the next couple of weeks.
May make for interesting reading to see how sales/cashflow and what's happening with the balance sheet, especially if they give any post-event comment. Just my view obviously but I suspect they will have been beavering like mad to generate as much cashflow as possible not just to take advantage of better pricing but especially to improve the balance sheet as quickly as possible.

Herne - depends on quality/clarity and shape but for reference the 2017 Lesedi La Rona diamond was also approx 1100ct, it was a Type 11A and sold in rough form to Graff for $53m.
Be nice if James could dig something like that up!

I think mainly that most holders are already aware of what’s happening and the potential (ie so this morning’s update was ‘confirm’ rather than ‘surprise’, but mainly because it’s below the radar of most other people. Its day will come soon!

I'd love to believe and agree Ziquarat but USD1000+/ct might be a bit trumpy!
But...! Even taking, for instance, Lucara's latest figures which are showing an average price/carat of USD395 (with diamond prices well down on recent highs), and even allowing for Lucara's pretty good average quality, it would be several times the current market capitalisation. With the possibility of the conjoin in (potentially substantial) addition.

Another piece in the TR/Mars jigsaw.
Triple the previous ore body.
They are clearly confident that the two will conjoin.
A fascinating couple of months ahead.
Plus who knows what else from the Kalahari.

News - yes I previously did see and read the 6th May rns fully (such as it was), my only point was that the website now refers to a 49% JV with 'someone' (the RNS is not that specific) presumably YLB, and while discussions and proposal presentations have been previously referred to, I can't find any previous specific reference to a 49% JV with anyone?

Can't disagree with any of that, Michael.
Should it not have been RNS'd though? Just 'asking for a friend'!