Member Info for perroverde

RNS this eve re issue of shares to Vutomi (which it looks like they are hanging on to so far anyway) but also stating - as expected - warrant conversion raising £350k. Should preclude the need for the annual tin-shake for covering overheads. Positive news. (Although am a bit disappointed not to have the chance of getting a few more cheap shares from either or both of the above!).

From my 'mole' at the AGM:
- likely imminent exercise of warrants should (hopefully) bring sufficient cash in to cover foreseeable overheads, and in which case the only need for raising cash would be for corporate transactions.
- There are several (5-6) suitors keen to JV on Ghaghoo. The presentation highlights how it combines beautifully with KX36 and how James has plans in place to overcome the practical/operational issues incurred by Gem. James keen to point out that it is far from the train wreck which myopic/uninformed critics have suggested. Hopefully we'll see a result on this before too long. Remember Gem spent USD250m on this!
- Marsfontein: Eurafrican Diamond Corp named as royalty miner (they operate the Schuller mine in RSA around Cullinan and not far from TR which they will also mine under royalty agreement. Operations have started this month. They are using state-of-the-art equipment, BOD gets 15% of on-going revenue and 25% of value of large stones. No capital outlay required from BOD.
All pointing in the right direction, it seems, just a pity the share price seems to refuse to recognise it!

Regrettably unable to attend this year (first time in several years!). I have asked James to forward any presentations/slides. I gather he is highlighting likely revenue share from the Mars work which has just started (projected to be in the £millions, allegedly) plus an update on progress and what hi plans are with Ghaghoo which I understand is far from dead.

DVH I agree - IMO lithium is a sideshow here for now at least (though I think Glencore may disagree with the opinion of the poster below regarding Ireland's credentials as a jurisdiction for business!).
Me, I'm awaiting Stonepark news...

InvestingGenius - I don’t bother venturing into this schoolyard any more (mainly as not been invested much for a while now), but today I agree with you and actually finally bought some shares back. This could get interesting now. Just my view!

I have Group 11's share price on my watch list, and note that it was up 30% yesterday.
Maybe unrelated as they have plenty else going on besides Stonepark, and it isn't the most liquid share in the world (Glencore own a substantial chunk of course) but maybe worth keeping an eye on it...

Sandy I'm going to challenge you on your description of Ghaghoo as 'an abandoned money pit' (because I'm a BOD shareholder who has done a fair bit of research on it). The reasons for it not being developed further and no longer being part of its old owners' future plans are pretty much irrelevant to its potential future. James Campbell (BOD CEO) knew/knows what he's doing and knows exactly what he needs to do with it to make it work (and it won't cost all that much as it happens). Talk to him yourself, he's very approachable and happy to discuss it with anyone who's interested.
Re Remin I have neither time nor inclination to get into a discussion about it (this wjll be my last post here on the subject at least until something is announced) but think you are missing the point there too by the way.

Sandy - nah! Course not. Don’t be silly!

Hi JamesJohn yes it was, sorry the post reply got lot in the fog of other posts. They said that each delivery is substantially better than the previous one so December should be good too notwithstanding the usual xmas holiday excuses.
I’m also seeing posts saying the article is fake (strange!) but even if it is I’d say that’s irrelevant. I heard it from the horse’s mouth with my own ears and although nothing rule breaking or ‘out of order’ was said, the insinuation was clear. Or a goose chase, depending on your point of view lol

Yes they did and apparently yes they were.
You may well mock the possible ‘new’ mines, but if you were to do a bit of research on Remin you’ll find out that not only is the resource huge but that there are substantial tailings from which cashflow can easily and quickly derived. Especially if done in conjunction with a decent takeoff deal with an appropriate third party, and there is likely to be plenty of keen takers. Whether it’s all another pile of bull is a matter for debate and personal opinion, but there is no doubting that Remin is huge.

MMAF you asked for an update from the AGM: I was one of 4 shareholders in attendance, the first thing Roy Tuckshop (who was chairing the meeting) said was ‘we are aware of press reports regarding something which is happening but our NomAD says we are unable to comment on, but suffice to say something is in the offing which if we could announce would substantially transform the atmosphere surrounding this meeting and probably the share price”. He also said if anyone wants to ask questions they would have to sign an NDA and won’t be able to trade in the shares’ The subject appears to be source of palpable frustration. I’m afraid I refused the offer to go ‘inside’ (and even if I had I’d not he able to say anything!).
WTF is going on! surely if it is indeed Remin (which by association sounds as though it is) it would be substantial enough to warrant an announcement. I assume there must be very good reason for the Nomad’s refusal to allow it but Fatty wasn’t even in attendance so couldn’t ask him. I get the impression he hates Vast evrn more than I do lol
I guess we’ll find out presently.
Not much other news to report, other than confirm that the 123,000 carats of diamonds remain in a bank vault in Harare and that discussions continue in Zimbabwe.

Blimey. Remin and the opportunities it would bring was one of the key reasons for me investing in the first place years ago - probably more so than Baita Plai in fact. They produced whole presentations about it IIRCamd it was potentially massive (likewise Blueberry). Then it all went quiet. It’d be amazing if it reappeared after all this time. Shouldn’t they have announced something if what this article says is true?

Me too! And am going to the AGM too. At least get a free cup of coffee!

Well I wasn't expecting that either!
2023 lining up to be very interesting indeed. Just need rid of any straggling overhang from the placing, though i doubt there's much now.

All lining up nicely! Maybe results of the completed drill before Christmas at this rate though G11 will need to get their skates on.

Norway Nell, DvH et al - nothing wrong with your arguments and points. We already know that JT has turned down one offer from Glencore previously and that whatever one’s view of him, he has a fair history of mercurial dealmaking (African Diamonds etc). Furthermore Glen are awash with cash as witnessed by their almost daily acquisitions of own shares recently - for £millions and millions. Arkle is back-pocket cash even at 10-20x today’s mcap. That said my own fear is that Glen aren’t daft either, and we end up with a situation (eg like at Ithaca a few years ago) where minority shareholders were forced to accept an offer way below true value (albeit still v profitable for most). I just hope that Jonno gets his dealmaking trousers on the right way round here.

DVH while I don't disagree with you or with Cliveas, there have been a couple of meaty warrant exercises this year so far (£200k+) so given the low overhead burn I doubt there's much need for new cash unless for something specific.
That said, the Group 11 share price has been drifting south too in recent weeks, which makes me wonder if all is ok at Stonepark (or people just getting bored with it all in crappy markets).
But... Mcap under £1.5m is ridiculous!

Hi Echo - Basically yes (and all the costs lol). If you believe that Thorny River has huge potential (as, presumably, most BOD shareholders do, or at least those who know it and have researched it) you also know it makes total sense that BOD has 100% and minority interests are taken out of the equation. Re costs, James C has previously indicated that cost to mine is relatively low (low single digit $millions) as most of the infrastructure is already there (roads, communications, local workforce, accommodation etc). We'll presumably find out when the mine plan is released.
Hopefully with this finally out of the way we can look forward to mining permit and plan.
Things are about to get interesting - at last! - like you it's been quite a few years for me too.

Not necessarily bad at all
And £300k in the bank..

DVH I think you're right - drilling almost certainly well under way now (though am surprised they haven't announced it even on their regular Twitter announcements). Worth keeping an eye on Group 11 too.
Fingers crossed!