Member Info for redwineday

ARCM have to buy the shares to hand them back.Buying 17% in the market, at todays SP will cost them 143m! On top the minute the start to issue TR1s they will start a squeeze. I think they will be banking a debt for equity swap as their get out of jail card. If not they are screwed.

https://www.petradiamonds.com/investors/financial-events-calendar/

Trading update on the 27th Jan

If anyone has access to the piece on diamond miners that has appeared in the Lex column in todays FT, would be handy if you could either post or summarise it here.

Its a hedge fund. Why on earth would you take anything they are saying at face value..

Or they know what's not coming. If this is the case we can expect nothing here until divis are mentioned.

Wow, really going for it aren't they...

Spot on.

If everything goes perfectly here, cost control, banks working with PDL on covenants, market pricing, a few big stones etc etc its a multi bagger in time. Duffy looks like the right guy but he can only control what he can control. One RNS on a slip up or bad news or revenue weakness and it can be over quickly.

I'm still in here for quite a lot (for me) basically because I believe in the assets and the long term attractiveness of the market supply and demand but its a highly risky bet.

0944 GMT - Petra Diamonds reporting a disruption to its power supply in South Africa is likely to have a negative impact on short-term production and cash flow, says Berenberg. The German brokerage says it expects the shares to underperform until clarity on the power situation and restoration of normal operations is provided. "However, as reports of the situation improving materialize, this underperformance is likely to be more tempered," the brokerage says. Berenberg has a hold rating on the stock and a 9 pence target price. Shares are down 6.7% at 7.84 pence.

bo***cks

good thing I suppose is they have plenty of inventory

This won't steady until the next RNS comes and if its bad, like no power for 2 weeks, its back to the 6's.

The whole thing stinks. Complete lack of transparency. GS TR1s’ hidden positions,. FCA are useless.

Stock, not stick, although a stick more be more useful

Rubbish. Votes stay a with the owners of the stick, not those that borrow it.

Certainly was. They picked up a bargain

Doubt it. Came after the close. Looks like they will lose a weeks production as the outage is expected to last the week.

Whats happening here. Thursday we are heading to 10p, soon be back at 8 shortly

Asset has the same value today as it had on Friday. If not with Tullow then with someone else. Timing may be an issue of course. Carapa obvs still the cliffhanger...

Good point Col.

My hypothesis is the GS/MS CFDs have been taken to protect themselves and or their clients in the short taken by ACRM who are also probably their client. These bankers find ways to have it all ways. They are proabably involved in the debt discussions as well. All supposition of course..

Well if ARCM were behind all the stories being placed pre and post their reveal, the did a good job....PI's bailing this morning on nothing...

The RNS is we need to see is Zama sold for 500m!