Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Also posted on SOLG. Enjoy! http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/03/bcngold103.xml
For anyone else who, like me, had a rush of blood to the head and bought without much research yesterday, I have dug out an interesting archived interview with the CEO on Dailydooh: http://www.dailydooh.com/archives/1176 You can also find an interview with Neo Advertising's CEO here: http://www.dailydooh.com/archives/979 I bought in as a complete punt based on the historic share price on the basis that a little good news in terms of funding should go a long way. Although I will probably be kicking myself on Monday for not having waited to test the strength of the rally, I can't see the SP dropping back too far and the potential upside is huge. Now that they have the money, it strikes me that the main thing that they need to do is go out and do some good old fashioned selling. I am sure that Ad spend budgets are tight at the moment, but the market should start to come back in Q1 2009. I can afford to wait that long.
Ended up buying in at the top of the wave. I thought that they may go on rising for a day or so before the first drop but what the heck! Reading the coverage on the other boards and also looking at historic share prices, I still think that even at a buy of 3.72, this could be a 10 bagger within a year or so. Let's hope so anyway.
Any idea of buys vs sells on L2? Good luck to all!
No research, no knowledge of company ... Aaaargh, what am I doing?????
Something happening here! Anyone know of any reason for the rise?
Stop sending out those negative waves, dude. You're pushing the share price down. :)
Yes I did write my last post with my tongue buried just a little into my cheek. To be fair I thought it was a little obvious! I find it hard to believe that anyone is giving the company a hard time when they have got all the wheels on their wagon. Now is the time to just let it roll along and enjoy the ride, but don't expect miracles until next years accounts when you will have hard evidence of the fruits of their labours.
What a cr*p company this is. Who would eveer invest in a company that has just had its first gold pour, is employing more people to dig more gold out of the ground that they can then sell at an increaing price, the results of which will show up in next years reports and accounts? How stupid are we?
Like I said yesterday, I am not convinced that we have too many private !investors! with cash to invest at the moment. The action on NNG and BLNX shows that there are still some day / swing traders trying to make a few quick bucks, but I think that RVD is a more long term investment than either of NNG or BLNX at the moment. I suggest that we all sit back and think about those fine fellows digging out our gold!!! One day we will look back on the credit crunch and laugh as we chew on a bit fat havana cigar!
You would certainly think that this would kick the SP up the a*se in normal trading conditions. My only concern is that these are not normal trading conditions and we may find that buyers are still keeping their hands tightly clasped around their wallets.
RNS Number : 1342Z River Diamonds PLC 15 July 2008  AIM: RVD River Diamonds Plc ('River Diamonds' or 'the Company') Operational Update from the Vatukoula Gold Mine in Fiji River Diamonds (AIM: RVD) announces an operational update from its 100% owned Vatukoula Gold Mine in Fiji ('the Mine'). HIGHLIGHTS * Completion of 100% acquisition of the Mine in April 2008 * Gold production commenced in April 2008 with the re-commissioning of the Vatukoula Treatment Plant * First Gold pour in May 2008 * 36,920 tonnes of ore has been produced to 30 June 2008, with an average grade of 10.86 grams per tonne of gold (12,890 ounces of gold) * Mine production from the 1st July to 14th July totalled 5,843 tonnes, with an average grade of 11.11 grams per tonne of gold (2,088 ounces of gold) * Gold is now being poured weekly. Total gold sold to date amounts to 4,954.1 ounces, realising an average gold price of US$915 per ounce * Gold recoveries through the Vatukoula Treatment Plant to 30 June 2008 have averaged 86.27%. * Labour force increased to over 600 employees * Management on site strengthened with the appointment of a new General Manager, Mill Superintendent and Mechanical and Electrical Superintendents * Operations continue to build up in terms of capacity
Operations Update: Since the completion of the 100% acquisition of the Vatukoula Gold Mine in April 2008, mining and milling operations have progressively been improving as all sections of the Mine become operational. The Company has anticipated 26,000 ounces of gold production to 30 June 2008 as stated in its admission document dated 1 April 2008. However, the biggest obstacle to achieving this target and full operational capacity since commencement of milling operations has been the restrictions to mine generated power, due primarily to the staged re-commissioning of the Mine's power station and the overhaul of the Mine's underground diesel earthmoving fleet. The power station is now almost fully operational with the re-commissioning last week of the largest generators ESL1 (with an online capacity of some 2.4 Megawatts). An additional 2 Megawatts of contracted generator capacity is due to be installed and on-line prior to the end July 2008. These new generators will provide more than sufficient power to run all sections of the operations on a 24/7 basis with sufficient built in standby capacity. Underground Operations: The Smith Shaft, Philip Shaft, and Decline are now fully operational. Due to power restrictions associated with the power station refurbishment, as outlined above, underground mining has been limited to only one of three shifts per day. The recent commissioning of ESL1 has allowed management to move operations to a two-shift basis thereby dou
Milling Operations: The Vatukoula Treatment Plant is now operating satisfactorily with all facets operational. The gold recoveries to date of 86.27% are in line with historic gold recoveries at the Mine. Labour: Mr Bert Leathley, ex Ashanti Goldfields, has been appointed General Manager of the Vatukoula Operations and has been joined by Superintendents of Metallurgy, Mechanical and Electrical. Local employee numbers have now increased to 614. This number will increase to closer to 800 employees as full production is reached over the coming months. Corporate - Change of Name: The Fiji operating company has changed its name to Vatukoula Gold Mines Limited and as such it is intended to change the name of River Diamonds Plc to Vatukoula Gold Mines Plc. This will be put to shareholders shortly at the Annual General Meeting currently scheduled for August 2008. Hedging: All production from the Vatukoula Mine is completely un-hedged and the Company has no bank debt. Future Reporting: It is the intention of the Board to now report mine production within 30 days from the end of each Quarter.
Collin Orr-Ewing, River Diamond's Chairman, commented: 'We are very pleased with the progress to date of the re-commissioning of this premier gold mine. Most of the obstacles we faced have been or are now being resolved. We look forward to continuous gold operations from the mine as we move forward towards full production' A lot has been achieved in the short time, since the Company took over operation of the mine. With gold pours now occurring weekly and the average grades recovered steadily improving, we believe we are now in an excellent position to reach production of 110,000 ounces by the middle of 2009' Qualified Person Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School. Kiran is the Finance Director of River Diamonds. He is a fellow of the Geological Society. Enquiries: River Diamonds plc Hichens, Harrison & Co plc David Lenigas + 44 20 7016 5100 Dave Paxton + 44 20 7382 7785 Colin Orr Ewing + 44 20 7352 4117 W.H. Ireland Limited Parkgreen Communications David Porter + 44 20 7220 1666 Louise Goodeve + 44 20 7851 7480 James Joyce Justine Howarth This information is provided by RNS
http://www.investegate.co.uk/article.aspx?id=200807151616191342Z&fe=1
I'm beginning to wonder if all of the bad news may be priced in to the current SP. Both Persimmon and Bovis seem to have survived the job cuts announcements. I would personally give it a little while before investing in the housebuilders (I currently prefer transport) but it's about time there was some form of rally.
Well I got the drop this morning right. I have to say that I didn't see the bounce coming after it however. Well done to those with the bottle to have made money out of this todayt.
for you to bail out before you get kicked I would say it is before about 3pm this afternoon Just my opinion!
I think that the MM's were playing games with nervous PI's who had their stop losses set too high or who just lost their nerve and sold for a silly price. It dropped a totally unreasonable amount given the number of shares sold.