Member Info for Sisyphus

Certainly not going to be a worry-free weekend for holders here. I really did expect a funding RNS given the 'accelerated urgency' implied. Out flat and watching. Will re-enter when the RNS appears as I dont like delay.

Going up again. There is a lot happening here above and beyond the £500k cash. I think that will fall into place quickly but there may well be other offers hitting the table by the look of it.

Next sustained rise underway?

Rise - day traders clear - consolidate - stage two rise. The big buyers keep mopping up distressed sellers here and financing talks are continuing in the background. Interesting if that cash RNS pops up soon as well.

Rise - day traders clear - consolidate - stage two rise. The big buyers keep mopping up distressed sellers here and financing talks are continuing in the background. Interesting if that cash RNS pops up soon as well.

Sure you are right. Will be interesting to see the effect of that RNS as it should be anytime given the 'accelerated discussions' comment.

Probably set the bar too high. I'm convinced existing instos will stump up the cash as it would be crazy not to at this late stage with production in place. They supported the company at 10p and 6p at much riskier stages. All the major hurdles have been jumped now and they have offtake agreements in place as well as scheduled auctions in Antwerp. Huge resource with no major new Kimberlite deposits coming on stream in next few years so demand will start to exceed supply from herin. Add in the fact that the rough diamond market is running at a year on year high and this is basically an underground vault containing $1.5bn hard currency. Quite frankly I am really surprised that an entrepreneurial Texan hasn't spotted this yet let alone the specialist miners. Remember, DCP negotiated a very good four-year strike-free continuity contract with the mines union - that alone is worth a fortune as everyone benefits. Funding must surely be imminent here and realisation that the shockwave has passed will kick in.

There must be a lot of horse-trading going on here. Day traders have been in and mostly gone now, existing instos are probably comfortable stumping up short-term cash as the risk/reward is relatively low given production is actually in place. It is the 'bidders in the wings' situation that could quickly send this up. Currently stabilising post-day-trade exits so the next move will indicate underlying action. If we get another strong uptrend, then it could play out an interesting week!

I certainly think that Anglo-American will be eyeing a 15year LOM proven resource diamond producer with acquisitive eyes. All the work has now been done, enter the company with the inherent skills to bring in full production quickly. This has got to be a no-brainer for a bigger mining player as DCP has evolved into a producer with its first diamond sales entering the market. The game is on. Either existing institutional investors cash us up to full production or a bidding war begins.......or both.

The RNS regarding the truck fire was not a huge negative in that it has nothing to do with the actual mining interface. The DRM reaction to suspend mining for a week or so was the straw that spooked already nervy investors. Bigger picture - nothing has changed but demands on cash which should soon be sorted and reduced mining at higher grades. This has, however, forced bigger players watching the table to start to show their hands. Each one of them must have been watching for DCP to fail so they could pick up cheap assets. I think one of them blinked and that has shown the presence of more players on the sidelines. Time will tell, but it would explain the nature of todays trading up to now. Muddied by day-traders, but there's a more complex game going on here after 10% of the shares traded yesterday.

Now let's see the underlying picture. If I'm right, this should now start a second leg up as the quiet accumulators pitch in.

Totally agree Valency. Three lots of 'bad' news spooked a lot of smaller PI's into selling which always happens. When you step back and look at DCP from a distance 99% of ALL the hard work has been done! It is now a producing mine with increasing diamond grades coming through. As you have frequently stated, there will always be set-backs; it's the nature of the business. The over-riding fact, is that DCP is a producer with validated reserves and historical data confirming quality. Get through the next month or two and the rest is relatively plain sailing in virgin kimberlite. The big mining players can't sit on the sidelines forever here.

That in a world of shrinking returns on capital, a producing diamond mine with $1.5bn resource in the ground could be regarded as a very valuable asset! It really doesn't matter what your asset base is, for a relatively small up-front investment here, the returns are quite disproportional over the next 15 years. I think the penny is finally dropping and new investors are lining up not just for growth but also accumulating for takeover. Lots of action on all levels here.

Looking at the buys coming in now, it would appear that one of the bigger players watching has blinked. This could now easily run into a bidding war rather than a funding issue. Big miners want this asset and I think the picture just changed from immediate capital to 'this is a producing asset where all the work has been done and we want it'. Fine to sit and wait if you are the only interested party, but if there are two or more round the table then the gloves just came off. As LukeC so rightly observes, this is not iron ore in oversupply, this is a valuable producing asset in a market with declining supply over the next decade.

These 'four'.....:)

1] Immediate funding secured. 2] £1m working capital also secured 3] DMR allows immediate mining restart rather than next week 4} New management in place from top 3 insto holders. Any one of these three will quickly change sentiment.

1} Immediate funding from biggest holders - we are not talking silly numbers - £0.5m up front with £1m working cap to full production. 2) Replacement board installed by biggest insto holders 3} DMR to reinstate mining immediately as opposed to next week. Any of these will underpin.

Day traders may well play it, but the underlying fundamentals mean that funding discussions will be resolved quickly. The big holders are just as anxious to get value here as are the PI's and the $1.5bn resource is still in the ground and DCP are at the production stage. Next week, with funding in place, diamonds will be coming out of the ground period.

The precipitous three day fall has skewed all perspective given the RNS strafe. This was 6p not long ago, and nothing fundamentally has changed other than half production forecast till end Q1 2017. Short-term funding is the only barrier and the big holders are quite capable of assessing the news and working out the resolution. Put the cash in, stabilise, get the diamonds coming in from K4 and tailings, ramp up with view to full capacity start of Q2 2017 then sit round a table with a couple of bigger players and negotiate a sale at a lot higher price than your investment stands at now. Too much fear at the moment, not a lot of logic.

Will be waiting for this to bounce with all the adverse news in the window now. Yey, bounced off 1p. Expect the funding to come in at a conversion price of 1p. Dilutive yes, but if the biggest three holders now take board control, restore mining, stabilise through production with a view to sale in the medium term then this $1.5 bn asset should be realised within 12 months.