Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : DIAMONDWORKS DMW.v -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (303)	7/1/1999 5:57:00 PM
From: marcos	Respond to of 413

Well, well .. it's starting to come together, then eh. Someone told me that Brian Menell is 'of the Menell family who controls Avmin [AngloVaal]' ... I don't know if that's true or not, don't know any good urls for researching RSA corporations. He has worked for JCI, though, and for DeBeers before that. One SIer saw significance for dmw in the fact that Jonathan Challis was elected president of sgf - newswire.ca ... but I can't see Diamondworks messing around in Saskatchewan when they have quality assets elsewhere ... it's possible, though, you never know. Next post is a Reuters article ... have a great Canada Day!

To: russet who wrote (303)	7/1/1999 5:59:00 PM
From: marcos	Respond to of 413

Johannesburg, July 1 (Reuters) - South Africa's New Mining Corp Ltd said on Thursday it will acquire the non-gold mining assets of two South African companies in a deal worth 350 million rand ($58.4 million). New Mining will pick up various diamond interests and mineral rights from Consolidated African Mines (CAM) and JCI Gold in a bid to become a niche player in the global diamond industry. "They will add critical mass to New Mining and provide it with a solid platform for implementing its strategy of becoming a substantial and diversified resources company," New Mining chairman Wiseman Nkuhlu said in a statement. Under the deal, the black empowerment company will acquire CAM's 50 percent stake in Guild Hall, an investment holding company which holds 34 percent of Gem Diamond Corp. New Mining will pick up mineral rights adjacent to Gem's Saxendrift mine in South Africa, a 50 percent stake in the Letseng La-Terae diamond project in Lesotho, and a stake in Mawenzi Resources. New Mining will also acquire 100 percent of Ekusensi Resources, which holds 29 percent of DiamondWorks, a Toronto-listed company with prospects in Angola and Sierra Leone. The transaction will be settled through the issue of 330 million A and B preference shares at 100 cents and 40 million ordinary shares at 50 cents each. CAM and JCI Gold have indicated that they will place or otherwise dispose of the ordinary shares they will receive. New Mining's strategy is to create a niche in the high-value end of the gem market with stones that can command between $650 and $850 per carat. For JCI Gold and CAM, the asset sales represent another step in the restructuring of South African former mining house JCI Ltd which collapsed last year. CAM said in a separate statement the New Mining transaction would set the scene for a further restructuring of gold interests held by CAM, Western Areas, Randfontein Estates, Randgold & Exploration and London-listed Randgold Resources. New Mining also announced its results for the year ended March 31, reporting headline earnings of 2.4 cents per share compared to a loss of 1.8 cents per share. CAM reported an attributable profit of 132.5 million rand for the 12 months ended March 31 compared to a loss of 178.6 million rand in the nine months ended March 31, 1998. CAM chief executive Brett Kebble said in a statement further restructuring details would be announced shortly.

To: russet who wrote (303)	7/5/1999 5:47:00 PM
From: marcos	Respond to of 413

Notice how FM whacked the .17 bid with 5k at 15h58 Friday? ... Well, not today - today they buy 2k from CC at 15h52 .... so now i'm wondering - Is the wall just raised a few cents, or gone? .. If gone, for how long? ... and Why? [has it fulfilled its purpose?][what the h* was/is its purpose anyway??][has the wall just moved to another house?][and that's not all the questions either!-g-] Two new articles on the website - diamondworks.com