Member Info for perroverde

Echo - Maibwe consists of 10 licences, 4 kimberlite pipes have already been identified, one of which proved to be of ‘significant interest’ with prolific microdiamonds. It has been nearly a year since they said a commercial solution was ‘in sight’ and I gather the attitude of the authorities (most notably a new more commercially-minded liquidator for BCL) towards finding a solution has improved dramatically in recent weeks/months. It may just have been because James happened to be already in the CKGR this week, but I doubt that don’t you? here’s hoping!

Photo posted by JAHC on Twitter showing them inspecting the 'Maibwe project drill core'.
Now that could be very interesting indeed. Whispers on the streets of Gaborone for a long time now that Maibwe is potentially one of the biggest diamond resources ever found anywhere in the world, but the authorities have been reluctant to acknowledge it openly - and the problems with the bankruptcy of the main operator have delayed things for years. BOD have made more encouraging noises about a resolution these past few months and are centre-stage for involvement - could things finally be happening? It is likely to be a monster.

Echo - I agree.
Spread's fine as it keeps the spivs out!
And agree re the BDM share price - it's more than odd. The ASX is a well-known leaky ship though so someone's probably had a nod.

Echo: It's BDM on ASX
Thorny: It's gone mental hasn't it. On 'nothing'...! Maybe the ASX has started to wake up to what it's up to not least in Botswana - have a read of their recent RNSs especially the one from January - they mention Botswanan exploration and also that they are seeking later-stage M+A targets there to enhance cashflow. Could there be other fish frying in this particular pan...?

Hi Echo
Only you can decide what's best for you. Personally while I'm frustrated that the myopic market doesn't 'get' the significance of this deal, I'm also perfectly happy for it to stay under the radar for now as there is so much more still to come - and probably in short order. You already know what those things are so I won't bore by repeating them.
I am a firm believer that 'value will out' in the longer term, and there's a massive amount of it sitting right here.
Give yourself a slap for such impatience lol!

Yes - great news - as I read it, Burgundy Diamonds, substantially larger than BOD and with substantial experience in exploration, development and mining diamonds, and very importantly with a wealthy Canadian parent which has declared big ambitions in the diamond sector, is going to spend a substantial amount of money (likely well into the £millions) on the Sekaka and Sunland properties, in return for half the loot (rising to 70% on anything really big).
An excellent way to develop the properties avoiding what would have undoubtedly been substantial dilution to BOD shareholders - and avoiding the need for expanding the BOD infrastructure.
A fantastic deal imo.
Oh and don't forget who has a state-of-the-art bulk sampling plant just up the road - which will mean on-going revenues for BOD!

Hi Echo, can’t disagree with anything you’re saying there. One thing I have learned from my time served investing in ‘African Stuff’ is that everything always takes longer than you think it will! That said, word on the street over there says something big’s brewing, and after all it wouldn’t be very surprising given where we are with various projects.

Echo - I've no real target price. But if I did it would be a LOT higher than this. That's always a risk with public company situations; that someone comes in and bids for it based on market's myopic pricing, not real underlying value.
But I've done my homework and I know that there's multiples more value than the £6m (Bit more now I suppose!) market cap to come from a variety of sources. It has the makings of being one of the most significant diamond players in the Southern African area. Thorny River results, or finding a sensible way of drilling/developing the Sekaka properties, or getting KX36 moving, or maybe Zimbabwe.
Starting with, ooh, any of those really - any one (or indeed all!) of them could easily happen any day now. And all are pretty well known to those who know the company (but probably not to many other people), so not necessarily insider or leaks, just people starting to take notice.
My money's on something about to happen though!

Not just Lucara, Thorny. There are other decent size international mining companies currently proactive in the diamond sector (not many, to be fair but they are out there). Anyone with ambition in the sector and the resource to fast-track development of these assets would see massive potential here. But personally I’d prefer not to sell out just yet! (Though at 5/6p I may reconsider lol)

TBTT - agree - though for definitive confirm of commerciality on Thorny River they'll presumably need to do the next round of drilling (which judging by JC's tweets it looks like they are now getting on with, and it's now funded). So could be very soon now - and very big.
I reckon you're right re Botswana - I'm convinced the market is underestimating the significance and value of those licences and all that data which came with the Sekaka deal. It's all very valuable, potentially extremely so, and would doubtless be big enough and very attractive to third parties to be involved too. Plus the actual KX36 mine, and not forgetting the state-of-the-art bulk sampling and other plant which came with it. Then there's Maibwe bubbling away in the background.
As for Vast/Zimbabwe, God only knows! Obviously would be fantastic if it happened for all concerned. We can live in hope but I'm not counting on it. I don't think we need to in any case.
For me, Thorny River and Botswana are 'where it's at'.

Echo - everyone seems to be concentrating on Clon’s Ghanaian issues/misery at the moment. Personally I’m more interested in what’s going on with lithium in Bolivia. Have a butchers...

Talking of due news, but on a different note, are any of you guys in BOD’s ‘cousin’ company, Clontarf?

Yes lots going on,
- meetings last week with Vast in Harare, unlikely to have happened if not about something important
- Thorny River sampling + moving on next round of drilling (now funded!)
- Botswana developments (KX36/Those Sekaka properties which ripe for drilling + development, and Maibwe bubbling away in the background)
- any or all of which could be company-changing, and all potentially any day now.
(There. Does that constitute a gratuitous ramp...?!)

And to you TBTT (and the others) indeed, here’s to a sparkling 2021. There’s certainly plenty on the go to enable it!

Very encouraging indeed. And a second anomaly to be drilled in January. Patience required but it all sounds good.

‘Wanting in lower’ - while I agree with you, let’s not lose perspective, this share was well over £1 a few short years ago. Obviously things very different now, but talk about ‘priced to fail’, even at 2p+. And yes, it could still fail. But I don’t think it will somehow. Red or black!
And yes, I’m a holder by the way...

TBTT - I'm not an expert by any means but while it could mean exactly that re Thorny River, it could also be for a definitive 'second opinion' on Marstfontein M8. Or both. The rns said that they had identified fine grained dolerite at M8, but (I have read) that it can look the same to the eye as fine grained kimberlite when in drill chip form. Either way the results which I gather typically take up to 4 weeks or so give a good definitive determination. So what with this and the 3d modelling from the drilling, plus all the goings-on in Botswana (and maybe Zim?!) it should be an interesting January and 2021.

I suppose to be expected that 'loose holders' - probably in at 0.6 at the latest raise - will take profits if they aren't LTH supporters, shares sold them to by the broker on the promise of the likelihood of a quick turn. Not a criticism of broker or clients, it's just how it works when you do things that way unfortunately. And as Echo says, regular fundraises are also 'how it works' for small explorers with big ambitions. And seen as opportunities to add by those who believe in the company and its prospects.
Here's to a very interesting few weeks and months ahead for those of us left here.

True - though 250k shares = under £2k though, nothing in context really.
Have also been trying to buy a few (just online though) without luck.

Yep a blow at Thorny River!
Not sure why they used the word ‘small’it’s the same ha taeget area as Mars M1 (0.4ha - 246m at 1999 prices) and sugarbird (0.5ha/ need to check re $)
Alluvials on M8 could be a quick route to commerciality, too.