Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Why is this taking the Finnish authorities so long? Its insane how long it has taken them. Land Survey of Finland can't still be delaying this over a meeting. Given how much time has passed, I have to presume it is with Tukes by now. If it is, then there should be no reason for delay in issuing the Full Permit.
I haven't done the maths , but am I right in saying that there is somewhere in the region of 16 - 18 % of the company shares unaccounted for in the recent placing? Who on earth has taken that chunk of the company. They got 1 for 1 warrants also, so special treatment to them eh. I need to check the rules on shareholding disclosure obligations, but it does look a very big chunk. Only thing I can think of is that some sort of vehicle is being used to keep the name or names under wraps. I have no doubt that if existing shareholders are kept in the dark on this, then the inevitable speculation will happen on this board as to who has taken this chunk of the company. Is it PJ and his crew? conveniently timed to perfection. I've no doubt the truth will out!
Also isn't Cameron Parry joint CEO of First Equity Ltd.
PJ and Cameron Parry were bot directors together at Metal Tiger if I'm not mistaken.
First Equity is now CGNRs and KDRs broker.
These KIMS all go in one big circle !
Will be interesting to see what TR1s come now for KDR as today is the 9th June.
StockBox Media is owned by Big Island Holdings Ltd
Big Island Holdings is owned by Value Generation Ltd
Value Generation is owned by Paul Johnson and his wife
So PJ behind any Stockbox stuff on KDR and CGNR.
Think PJ is a major shareholder in CGNR and we know KDR is a personal investment of his. I wonder will he be a major investor in KDR soon? Wouldn't surprise me.
Are the company spending the majority of their time focused on Conroy Gold and getting that JV over the line, at the expense of any progress for Karelian Diamonds? Where is managements urgency with regard to KDR?
Am I correct in saying that the last actual news from KDR (other than holdings RNS's or reservations) was in 2018? I would like to think that KDR are chasing up the mining permit with the relevant authorities and not just waiting to be informed. Sometimes it pays to chase.
KDR need to expedite the path to shareholder value and get this company noticed on the markets. At some stage a company has to cash in its chips and reward shareholders. There is the school of thought that this share price has been purposely kept very low, so as not to attract any attention and at the same time allowing themselves to maintain a certain percentage holding with cheap stock. Whether I subscribe to that view remains to be seen, but its extremely hard to argue against, especially in light of the intricacies of the John Story involvement and sell down. If I was to hazard a guess, it wouldn't surprise me if he joined the board after he is sub 10%. The school of thought I subscribe to is that Mr Story must offer some important value in the future of KDR for him to be accommodated in such a manner. Perhaps retaining a share price around 5p suited both parties, at shareholders expense of course. Hopefully the end justifies the means and this sees 30p+ on Permit news. Its all very strange! Feels like the company do not want the value or potential value of their assets known yet. Logic suggests the assets amassed over the years could be very valuable indeed. Why else would they waste their time in Finland. Would like to know what is delaying the permit (other than Covid) for so long. I was under the impression that the Finnish government wanted mine at Lahtojoki developed quickly.
The website has been changed. On the front page, they have removed the line about the company aim being about significant returns or shareholder value. At 5p, its no surprise that the company would remove that.
The website mainly concentrates on Lahtojoki development now. That said, the website is hugely lacking and this needs to be addressed. Its not acceptable. Anomaly 5, where the green diamond was found and the subsequent Orangeite Kimberlite source discovered do not even get a mention on the website (other than in the presentation which has been slightly amended recently). How can this "Quantum Step" not merit a mention, even a paragraph on the Karelian Diamonds website. Its not acceptable. The company need to realise that over many years, people invested their money on the basis of KDRs diamond exploration results, not just the Lahtojoki deposit that was acquired only in recent years. Seitapera, Riihivaara, Anomaly 5, Havakasuo, Salla, Liperi, Pudasjarvi : Many years of successful exploration and results. Where is the information on the website with regard to all this exploration? There is even less information available now. Ok, one can read the historic RNS's, but that is not what I'm talking about.
Has First Equity given a broker target here, or an initiation of coverage?
There is no doubt in my mind that shareholders deserve a lot better from "their company" , so I look forward to improvements on this front, because the current situation is entirely unacceptable.
I would suggest that the current £3m market capital is a very long way off the mark here. However, it appears to keep the company under the radar and this perhaps feeds into the company agenda. This is diamonds after all.
Karelian Diamonds look to be sat on an emerging diamond province. They also look to be holding all the cards, especially since the Rio agreement was not renewed. One can only assume that Karelian did not renew it, as it would be daft for Rio Tinto to not renew it.
Karelian raised and spent a large amount of money on exploration in 2014-2016, probably more than their current market capital. Following this, the company looks to have concentrated on locking down the land. KDR appear to have been given approx £30m worth of confidential Finland exploration information from Rio Tinto, prior to the 2014-2016 period of intense activity.
What are Karelian Diamonds Assets? How valuable are they?
I don't know, but this is what I think.
1. Lahtojoki - Awaiting Mining Permit from Tukes (Finnish Authority) for a Diamond Mine. 7% Fancy diamonds, At least 3% Pink, 60% Gem Quality, 90,000 carats per single tonne was discovered there (see Peltonens Paper), Thats 1% Diamond I believe.
2. Lahtohoki South - Awaiting Results - Appears to be a big deal or wouldn't be wasting time there
3. Anomaly 5 - Green Diamond found - Quantum step for company - A mystery
4. Riihivaara - Likely to be diamondiferous - A lot of money spent here and Rio classified as a high category discovery - A mystery
5. Seitapera - 7ha - largest kimberlite in Finland - plenty of diamonds here - Rio liked
6. Salla - A huge mystery - Cant wait for results from here
7. Liperi - Yellow diamond found - Another huge mystery - Again can't wait for results from here.
All the key diamond ground locked down by KDR alone. There is no way on earth this company is only worth £3m. Finland is rumoured to be the next diamond rush and possibly the last one after Canada.
I have no idea what KDR is or could be worth, but would be interested to get some opinions. Also if anyone knows of another diamond exploration company with KDRs potential, I would also be interested to hear, as I cannot find any. I find the market capital astonishing here.
Don't forget De Beers are in Finland too.
AA Sakatti Mining Oy is Anglo American's Finnish subsidiary operating in Sodankylä. Isn't that right beside Conroy Golds Finnish ground. Don't forget Anglo American = DeBeers.
Might De Beers want in on Lahtojoki? and AA Sakatti Mining Oy want in on CGNRs Finnish ground? Just a thought.
Didn't De Beers recently open new London offices?
Oh yes well spotted. I forgot about HAVUKKASUO - great results - but then SSSHH ever after - rumour of high grade blow discovered - Is that why it was never mentioned again? 143 G9/10 Purple to red garnets from a single till sample. Thats a serious result.
Full Mining Permission has got to be imminent now. If not this week, then my guess is next week. I suspect everything will change for KDR and its shareholders after permission granted. It will be the most important moment in KDRs long history. Bigger than anything achieved at cgnr. The rerate in the KDR share price that will follow this news is inevitable. It will be a hugely transformational moment for KDR and for Finlands mining industry. Many companies will be coming. Finland knows this and Finland has quietly made preparations for their arrival. How KDR, a tiny 2/3m capital company have ended up in this position in Finland is astonishing. Rio Tinto's diamond big boys are Scandinavia bound and they are not there for the skiing. What about DeBeers? Alrosa? Are they all going to be after a piece of the pie, will the pie be sliced in two/three, or are Rio Tinto looking to secure the whole pie.
KDR have
Lahtojoki + Lahtojoki South - Diamondiferous - PINK DIAMONDS
Anomaly 5-Diamondiferous - GREEN DIAMONDS
Seitapera - Diamondiferous - High Value Diamonds - Larger stones - read historical news releases
Riihivaara - Diamondiferous - Ask yourself why spend so much on Riihivaara and not confirm officially that it is diamondiferous- Rio Tinto gave Riihivaara a high category rating after analysing its results. ssshh!!
Liperi - Yellow Diamonds confirmed- What else is there- ssshh!
Salla - Even more SSSHH!
I cannot find another diamond exploration company in the world in the kind of position that KDR find themselves in. How on earth have they managed to do this and keep a lid on it.
Major Diamond companies pay hundreds of £Millions for economic diamond discoveries because they are so rare. KDR appear to me to be sitting quietly on a new "province" of future diamond mines. Major diamond companies will pay huge money for this. KDR would be worth hundreds of millions overnight, which is nothing short of miraculous for a £2/3m cap company . If Mining Permit is imminent, then odds are that every thing else follows shortly after.
Hypabyssal kimberlites are subvolcanic intrusive rocks crystallised from mantle-derived magmas poor in SiO2 and rich in CO2 and H2O. They are complex, hybrid rocks containing significant amounts of mantle-derived fragments, "primarily olivine with rare diamonds".
Look a the 4 directors of Rio Tinto Exploration Finland Oy. I would suggest that it is very obvious that they are in Finland for
Diamonds and Copper/Gold. Take a closer look at Karelian Diamonds and Conroy Golds Finnish interests. Both companies are run by same people. KDR had 10yr agreement to receive all Rio Tinto's confidential Finland exploration information. Agreement expired mid 2020. Not renewed, which makes no sense on Rio's part, unless they have other plans for KDR of course. Remember all the confidential information shared with KDR by Rio was for all minerals in Finland, not just diamonds. Given the commonality between KDR and CGNR, whatever KDR has seen CGNR has seen too! I would suggest CGNR know exactly what they have in Finland. The smart thing would be for CGNR to sit on Copper/ Gold discovery for 10 yrs whilst KDR prepare Finland for Rio's arrival after the closure of Argyle mine in Australia. The world is minus 90% of its pink diamond s now. I would suggest that its odds on now that KDRs Finnish assets will be meeting the shortfall in pink fancies (and green and yellow fancies) in the not so distant future.
Note the Broker change for KDR and CGNR last week to a single broker - First Equity Ltd
This could put Finland big time on the map as the centre of European mining. Looks like GTK Finland are gearing up for something very big also, if you look at Mintec etc. Big money being invested in making Finland a world leader.
More on Ken Tainton
Ken is the Rio Tinto Exploration Director responsible for multi-commodity exploration in Africa and Eurasia, based in London.
Ken graduated with a degree in Geology from the University of Natal in South Africa in 1987 and a PhD from the University of Cambridge in 1992. He then joined De Beers/Anglo American as a geochemical researcher, developing analytical and interpretive techniques to support diamond exploration, and supporting their application in active projects through consulting and training. Ken coordinated a review of De Beers’ exploration targeting in 1999 that substantially changed their exploration portfolio. From 2001 to 2003, he was seconded to Brazil as technical advisor to the regional exploration programme, before returning to South Africa as Technical Services Manager for De Beers Exploration.
Ken joined Rio Tinto as Global Laboratory Manager in 2007, with responsibility for aligning operating practice across Rio Tinto Exploration laboratories and optimising service delivery to exploration and operations. In April 2009 he transferred to the Project Generation Group as Principal Advisor – Diamonds and Laboratories. Whilst continuing to hold this role, he held the role of Exploration Executive in the London office between January 2010 and September 2011. Ken assumed the role of Exploration Director for the Eurasia Region, encompassing Russia, Kazakhstan, Uzbekistan and Mongolia, in October 2011. In July 2014, this geographic remit was expanded to include Africa and Europe.
He was author of -GEOLOGY AND EXPLORATION OF THE BRAÚNA DIAMONDIFEROUS KIMBERLITES, SERRINHA BLOCK, BAHIA, BRAZIL, December 2001
New company used for Finland created last May I believe.
Company has 4 Directors, with a number of the directors there for their Diamond experience and expertise apparently.
Very few have noticed the names on the board.
Arnaud Jean-Francois Christophe Brion, (5/2020)..........diamonds
Franciscus Theodorus Schauwaert, (5/2020)............diamonds
Jonathan Guy Beswick, (5/2020).............diamonds, copper/gold
Kenneth Melbourne Tainton, (5/2020)
Take the first two names - Arnaud Jean-Francois Christophe Brion, (5/2020) and Franciscus Theodorus Schauwaert, (5/2020)
-Announcements about Rio Tinto Diamonds Netherlands BV 2014:
? 2014-07-04: Change: Director Arnaud Jean-François Christophe Brion took office on 26-6-2014.
? 2014-07-04: Change: As of 26-6-2014 the authorization of Director Franciscus Theodorus Schauwaert has changed. Rio Tinto Diamonds Netherlands BV established January 2011.
Arnaud Jean-Francois Christophe Brion - Rio Tinto - 15 yrs and 4 months-General Manager- Commercial -Nov 2008 - Present-12 years and 6 months-Rio Tinto Exploration-Project Generation Group covering Europe, Austalasia, Africa and the Americas
3rd name.......Jonathan Guy Beswick, Rio Tinto 14 yrs - General Manager Exploration, Generative - Africa and Eurasia - Sep 2016 - Present4 years 8 months - Leading a small team of experienced Geoscientists with responsibility for the creation of multi commodity new opportunities, business development and project support in Rio Tinto Exploration's Africa-Eurasia region.
2010 - Sep 2016 - 6 yrs - Manager, Exploration - Central Africa - Leading teams and managing/growing a multi commodity portfolio of early stage exploration projects in Central Africa.
2007 - 2010 -3 yrs - Manager Southern Africa -Managing a portfolio of projects in southern Africa
2005 - 2006 -1 yr - Manager - South Africa and Botswana - Leading teams and managing programmes for diamond exploration
Its gets better! The last of the 4 directors is Kenneth Melbourne Tainton, former Technical Services Manager of De Beers for 15 years - 1992 - 2007. Currently with Rio Tinto for last 13 years and Exploration Director for Rio Tinto since 2011.
Exploration Director – Africa-Eurasia. Growth & Innovation
Rio Tinto - Ken Tainton is the Exploration Director for Africa-Eurasia and is responsible for development and execution for early stage exploration programmes in Southern and Central Africa, Eastern Europe and Central Asia. Ken has been with Rio Tinto for 13 years and has worked for Rio Tinto Diamonds and RTX in Australia, Singapore and the UK. Prior to joining Rio Tinto, Ken held technical management and service delivery roles with De Beers in South Africa and Brazil.
So he was Rio Tinto Diamonds (Argyle) and Rio Tinto Exploration RTX in Australia ( Remember RTX's hush hush massive Winu copper-gold project – aka the worst kept secret in exploration – was discovered in 2018 in the Paterson Province of WA). Is Finland Rio Tin