The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Thanks. Have watched it. Well worth a monkey of anyone's money.
As I understand it, it was an individual in a personal capacity who misappropriated these diamonds over ten years ago! I've not read anything to suggest the state of Zimbabwe is required to underwrite them, although please correct me if I'm wrong? If it was personal misappropriation the ice will have been liquidated into an untouchable off shore trust years ago, probably in British VI. Ha ha! The company pursuing the person concerned will come to nought because that person will claim they've no resources and, I'm afraid, you can't get blood out of a stone, Court ruling or no. This is nothing but a fairytale. What amazes me is Alpha and Mercury buying into it too. If their backers call in the debt, then even assuming a consolidation/raise is not on, where does that leave the company.
In my view this is a no brainer for good news. They've had the boffins at Oxford, Cambridge and Durham crawling all over the geology and Noble has just found helium on the strength of it, and He1 are slip streaming Noble. If He1 fluff their lines on this sitter then we should all sell and buy Noble, because some company is going to make a lot of money here, and He1 should consider an alternative enterprise. Aimho of course. Good luck HE1 and us!
Sorry to hear about your job and best wishes for any new opportunities. To answer your question, I don't think any of us really know. Only Cmet and, dare I say it, the inside traders know that. I understand a jv is being negotiated currently with one or more partners and that we trust Cmet will keep us informed. In the meantime, to be honest, all I'm doing is watching every other day or so for the volume to start increasing, when the insiders start to take their positions on imminent news. I wouldnt put your shirt on this just in case Cmet turns out to be another aim lifestyle outfit. But so far the undications seem positive. These minerals are in demand, there's lots of them, they're easy to mine, and SL wants the taxes and royalties to pay off the IMF and for growth. Downside, I think, is Cmet lethergy and SL entrepeneurs trying to pul the rug out from under their feet on that pretext. Maybe others can add more. Good luck.
Hold, but with no more than a monkey. The last rns said substantial progress on the diamonds had been made prior to the reporting period (Court ruling, old news, still no sparklers transferred); it also said 'further inroads' had been made during the reporting period. Further inroads is far from encouraging because it means they're still in problem solving rather than solutions mode. And they seem to be getting their independent creditors Alpha and Mercury star struck on these sparklers too with the debt extensions. If you've got more than a monkey tied up here chancing it on the sparklers and spike surfers showing up, consider putting it somewhere else, because in my view the bigger risk is share price consolidation and placing, when Alpha and Mercury start getting flamed by the wholesale money markets. AIMHO/DYOR.
Could be one of the biggest heists of all time. Make Antwerp look like a smash and grab down at Samuel's.
I understand Oxford Uni and Durham Uni academics identified the helium in the license areas and HE1 and Noble are tapping into it. HE1 are now slipstreaming Noble, and given Noble's success, a positive HE1 RNS is surely a no brainer. Should it be anything other then, given the academia and Noble success you could only conclude HE1 couldn't find their own ar5e in a mirror.
They're now tomfoolery speculators, clearly. Not sure you'll find that on an rns. Ha ha!
Are Alpha and Mercury banks? Wouldn't have thought they'd be going along with extension after extension without confidence in the sparklers position. They'll have to settle with the wholesale money markets won't they? Maybe sparklers return not so far off after all?
RNS says progress has been made. Also encouraging that the 2 creditors seem okay to further extend loan repayments to the end of Jan, payment must be effected end Feb. Implies news on tomfoolery before end Feb 24.
Hopefully the P&D and trader bandwagon has left Town.
Only a small number of shares in issue.
Still wish they'd get a move on. The clocks ticking on the leases. These minerals can be dug out with those plastic buckets and spades you get at the seaside. Maybe we should send Cmet some over, alongwith a biro.
Must be some deal they're doing given the length of time it's taking. If it's a multi partner jv or multiple jvs suppose that'll add on time. The respective partners will have to get it through monthly committee and board meetings too. Just hope they're pressing on, because the longer it drags on the more the Sri Lankans will see them as a bunch of lifestylers and will start getting up to licence shenanigans again. If they're not making progress but using our brass to keep the lights on then the SLs can just as easily do that themselves.
200sma around 2.6p. Wonder if it's heading there.
Think you could be right Mac.
Ivery interesting Catbert. Thanks too. And in the meantime, some nice downward drift towards a new buying opportunity.
Positive update. Debt managed, good earnings and maybe a divi in the pipeline before too long? Fantastic company. I got stopped out on 15th but back in now for long term. Want to be part of this growth story.
No boats in red sea. All in UAE/Saudi waters with exception of one in Scandi. Nowhere near red sea or suez?? Great to top with a few more though!
Wonder if they could hold the jv news until April when ISA top ups allowed. Would be good to get these in before they pop.