Member Info for SGD27

" Update re Placing DiamondCorp, the Southern African diamond mining, development and exploration company, announces the following update in respect of the proposed Placing, as announced on 13 January 2017. The Board has decided to delay admission of the Placing Shares and the Fee Shares on AIM to 31 January 2017. It is expected that admission of the Placing Shares and the Fee Shares will become effective on AltX on or before 3 February 2017. The Association of Mining & Construction Union ("AMCU") has been engaging constructively with management in an effort to reach a workable agreement, and we are pleased to say that such an agreement has been reached in principle today. This agreement remains subject to satisfactory documentation and final terms. Regrettably, Deloitte & Touche, the business rescue practitioner of Lace Diamond Mines (Pty) Limited has thus far been unable to reach agreement with the secured lender, the Industrial Development Corporation of South Africa ("IDC") with respect to various issues related to the Board's obligations pursuant to this Placing. Without agreement on these points, the Board will be unable to proceed and DiamondCorp will likely need to be placed into administration. In order to finalise the agreement in principle reached with AMCU, and to provide the maximum time available for the IDC to decide whether or not to agree to the conditions necessary to enable this Placing to be concluded, admission will be delayed to give AMCU and the IDC until a deadline of noon on Monday, 30 January 2017 to fulfil all the conditions precedent. All other terms and conditions to the Placing set out in Appendix I of the announcement issued by the Company on 13 January 2017 remain unchanged. Capitalised terms in this announcement, unless otherwise defined, have the same meaning given to them in the announcements issued by the Company on 13 January 2017 and 20 January 2017. All times referred to in this announcement are London times. "

http://www.proactiveinvestors.co.uk/columns/sp-angel/26938/today-s-market-view-birimian-diamondcorp-plc-edenville-energy-kibo-mining-plc-petra-diamonds-serabi-gold-26938.html " DiamondCorp (LON:DCP) Suspended – DiamondCorp raises £1m DiamondCorp has raised £1m from investors. The placing is conditional on “Admission becoming effective and the Group concluding a labour agreement with the Association of Mineworkers and Construction Union that is on terms approved by the Business Rescue Practitioner, on behalf of LDM, and by the Board of DiamondCorp.” The new shares have been placed at a price of 4 pence per share and with one warrant per new placing share exercisable at 1 pence per share anytime between 1 Novermber 2017 and 30 June 2019. Conclusion: The placing gives new confidence over the company’s debt restructuring and its ability to return the Lace diamond mine to production. The company remains in a state of ‘Business Administration’ following the recent fire and subsequent flood which forced the closure of the mine. Closure of the mine during its critical production ‘ramp-up’ stopped cash flow generation when the company had spent virtually all its cash and was at its most indebted. We expect the mine to reopen shortly and for the shares to resume trading sometime soon. "

Sounds great, but does anyone have any idea how much that market will be worth?

http://www.proactiveinvestors.co.uk/columns/vsa-capital-market-movers/26921/vsa-capital-market-movers-mariana-resources-ltd-shanta-gold-limited

********** = "beaufort securities . com" [remove spaces]

This might help explain the rise : https://www.**********************/kefi-minerals-c-2-p-351 " KEFI Minerals During 2016 KEFI was engaged in Tulu Kapi financing, but the process was interrupted in 4Q16 by a state of emergency in Ethiopia. The prime minister has since made progressive changes including new, more representative, federal and regional cabinets and the situation is much improved. The emergency is due to end in April, which should mean financing is secured during 2H17 (KEFI is pushing for mid-year). The preferred financing structure will involve Ethiopian government funding, project debt tailored to the Tulu Kapi contracting arrangements, and a $20-30m KEFI equity component. Our valuation and target price is based on this structure and includes the effect of dilution, although we note that almost any financing structure should equate to share price upside from current levels. Financial close will be a major milestone and catalyst for the stock. We recommend a BUY with a 0.95p Target Price. BUY - 18/01/2017 "

Very brief mention of Shanta at ~2m15s in : https://www.brrmedia.co.uk/broadcasts/587cb7a3eaf05bc576582262/finncap-mining-quarterly-sector-note

http://www.proactiveinvestors.co.uk/companies/news/163661/shanta-gold-s-underground-potential-comes-to-the-fore-163661.html " Shanta Gold Limited: THE INVESTMENT CASE INVESTMENT OVERVIEW Shanta Gold's underground potential comes to the fore 13:17 11 Jan 2017 New Luika comprises nine deposits in the south of Tanzania ... Philip Whiterow "

Up 36% so far today - anyone have a clue why?

http://www.proactiveinvestors.co.uk/companies/news/171406/gold-and-randgold-still-long-term-buys-says-jefferies-171406.html

https://vimeo.com/196426404 "KEFI Minerals plc (LON:KEFI) Executive chairman Harry Agna-nostara Adams talks through the December 2016 Investor Presentation."

https://www.brrmedia.co.uk/broadcasts/58592222501481984ea6e409/kefi-minerals-plc-2016-operational-update " KEFI Tue, 20 Dec 2016, 02:10pm GMT KEFI's Executive Chairman, Mr Harry Anagnostaras-Adams provides an update on the Company's progress, outlook and the milestones KEFI is looking to achieve in 2017. "

http://www.proactiveinvestors.co.uk/columns/the-rfc-ambrian-metals-mining-and-oil-gas-overview/26782/in-the-news-kefi-minerals-26782.html " In The News - KEFI Minerals 12:18 20 Dec 2016 ... COMMENT: The announcement provides comfort that the situation in Ethiopia is stable following October’s unrest and that the project funding process continues in earnest with a group of potential financiers, many of which are already active in the region. The announcement notes that these parties are targeting the development commitment in mid-2017. ... We continue to rate the shares as a Buy and have a target price (TP) of 1.5p — Our TP is based on a risked sum-of-the-parts valuation, assuming a long-term gold price of US$1,350/oz. It includes the Tulu Kapi Project on the basis of an NPV8 to which we have applied a risk multiple of 0.9x. We have added values for potential from the underground development of Tulu Kapi and from the company’s Jibal Qutman Gold Exploration Project in Saudi Arabia, and have adjusted for corporate G&A and net cash. " (NB RFC Ambrian are Joint Brokers for KEFI.)

http://www.proactiveinvestors.co.uk/columns/sp-angel/26771/today-s-market-view-asa-resource-group-plc-atalaya-mining-diamondcorp-plc-gemfields-plc-horizonte-minerals-plc-mkango-resources-ltd-ortac-resources-ltd-petropavlovsk-plc-tri-star-resources-26771.html " DiamondCorp (LON:DCP) Suspended – Finance update DiamondCorp reports that it has received formal agreement of the Industrial Development Corporation of South Africa (IDC) to a standstill on repayments of its secured project loan by its 75% owned Lace Diamond mine until the completion of the business rescue process. The Lace mine was placed in business rescue in November following production disruption when the mine became flooded as a result of severe storms in the region. Discussions with other lenders “to achieve formal agreements for a similar standstill”. “Laurelton Diamonds Inc., a lender to DiamondCorp Holdings Limited has agreed to roll up its interest until 1 November 2017 or the completion of refinancing (whichever is earlier) and defer capital repayments until 1 March 2018”. Interest is to be accrued at the agreed rate of 9%pa plus a 2% premium. The company also comments that it has repaid approximately £290,000 of the £700,000 Shariah complaint loan from Rasmala. Rasmala has, however, agreed to extend the repayment of the balance until 30 March 2017. Conclusion: The standstill agreements on the project loans for the Lace mine should give the company some much-needed breathing space "

http://www.proactiveinvestors.co.uk/columns/sp-angel/26757/today-s-market-view-bushveld-minerals-limited-ncondezi-energy-shanta-gold-limited-tertiary-minerals-plc-anglo-asian-mining-plc-26757.html " Shanta Gold (LON:SHG) 9p, Mkt Cap £52.5m – Underground development reaches ore at New Luika Shanta Gold reports that the underground development work at Bauhinia Creek has now reached mineralisation. The ore zone was encountered in the expected location based on the geological model of the deposit. Chief Executive Toby Bradbury commented that “we remain on track to commence first stoping of ore in Q2 2017.” Conclusion: Access to the underground ore at New Luika is key to the long term development strategy for the mine and to maintaining and extending its life. Data presented during the recent analysts’ site visit showed the underground development running ahead of schedule and now that the mineralisation has been encountered the mine team will be able to progress the preparatory development work in readiness for full production. "

Hate to disappoint, but probably just a rollover. (See 'rollover', here : http://thesharehub.com/?p=652 )

http://www.proactiveinvestors.co.uk/columns/sp-angel/26721/today-s-market-view-amur-minerals-bluerock-diamondsdiamondcorp-and-north-river-resources-26721.html " DiamondCorp (LON:DCP) Suspended – Diamond sale completed • DiamondCorp reports that it has sold a parcel of 5116.6 carats of diamonds from its Lace mine for a total of $590,745 or $115.46 per carat. The company confirms that it has received the sale proceeds in full. • The parcel included 5 stones larger than 10 carats and one non-gem stone of 19.43 carats. The other large stones in the sale package were all of relatively poor quality with cracks and/or inclusions impairing their sale value, hence the relatively poor prices realised. • The overall result of the sale is that the average price achieved for diamond sales from the mine “for the year has fallen to $146/ct, lower than the $164/ct forecast average.” • The company comments, however that all the reserve prices were exceeded and that in the size range between the no 7 sieve and 5 carats, “prices achieved were comparable or better than achieved throughout the year.” • The company comments that “the absence of high quality gems amongst the larger stones in the last two sales“ has brought down the average prices and “One large gem could just as easily swing the average in the other direction.” We concur with this observation and remind investors that in January this year a 22.11 carat H coloured diamond from the mine was sold at a price of US$5000/carat. Conclusion: The softer prices received from the most recent sale of diamonds from the Lace mine come at a difficult time as the mine recovers from the setbacks of the recent flooding. Lace has a history of producing high value gem diamonds, however. The near term recovery of such a stone, were that to occur, would provide a substantial boost both to morale and the company’s beleaguered finances. "

Makes you wonder what else was said at the AGM. Anyone there?

Yes, it's an excellent find, thanks Yogi1. Here's another article of interest today : http://www.mining.com/global-rough-diamond-production-about-to-reach-its-peak/ "The expected supply deficit could be worsened by the fact that 47% of global diamond production comes from countries of high political risk, including the Democratic Republic of Congo and Russia, the report says." Perhaps Finland would be preferable :-)

https://www.bloomberg.com/news/articles/2016-12-06/diamonds-are-forever-for-rio-tinto-as-ceo-seeks-mines-not-sales