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Xceldiam - New Beginning......................... (XLD)
Active
- 08 Aug 2007 19:57
Xceldiam Investing Strategy
Xceldiam's shares continued to trade on AIM following the disposal. The
directors of Xceldiam continue to pursue new investment opportunities in the
mining sector in accordance with Xceldiam's investing strategy.
The US$1.25 million cash reserves in Xceldiam, less the Company's operating
costs over the next 12 months, which are expected to be approximately
US$600,000, will be invested by the directors as follows, whereby the Company
will:
* either (i) invest by way of purchasing shares in diamond companies, or
other resource opportunities, which hold exploration or mining licences in the
sub-Saharan region of Africa, most notably the Democratic Republic of Congo ("
DRC"), or (ii) acquire the assets held by these companies. The recent democratic
elections in the DRC, and the revision of its mining legislation, makes this
country in the opinion of Michael Nunn and Mark Summers (being the remaining
directors after completion of the Disposal) (the "Remaining Directors") a good
target for exploration and mining activities;
* make an investment or acquisition within 12 months of the date of the
EGM, failing which it will return all funds held by the Company to its
shareholders by way of dividend;
* make only one or two key investments or acquisitions with the funds it
currently holds;
* if it chooses to invest, by way of purchase of shares, rather than by
way of acquisition of assets it will be an active investor in the way that it
manages those investments; and
* if it chooses to acquire further assets it will be the intention of
Xceldiam to initially rely on the corporate finance, legal and geological skills
base along with the investor base that is available from companies associated
with Michael Nunn to facilitate initial assessment of new projects and
investments. Following which, Xceldiam will appoint full time staff to the
projects should it be deemed appropriate.
1 MONTH CHART
1 YEAR CHART
Xceldiam's shares continued to trade on AIM following the disposal. The
directors of Xceldiam continue to pursue new investment opportunities in the
mining sector in accordance with Xceldiam's investing strategy.
The US$1.25 million cash reserves in Xceldiam, less the Company's operating
costs over the next 12 months, which are expected to be approximately
US$600,000, will be invested by the directors as follows, whereby the Company
will:
* either (i) invest by way of purchasing shares in diamond companies, or
other resource opportunities, which hold exploration or mining licences in the
sub-Saharan region of Africa, most notably the Democratic Republic of Congo ("
DRC"), or (ii) acquire the assets held by these companies. The recent democratic
elections in the DRC, and the revision of its mining legislation, makes this
country in the opinion of Michael Nunn and Mark Summers (being the remaining
directors after completion of the Disposal) (the "Remaining Directors") a good
target for exploration and mining activities;
* make an investment or acquisition within 12 months of the date of the
EGM, failing which it will return all funds held by the Company to its
shareholders by way of dividend;
* make only one or two key investments or acquisitions with the funds it
currently holds;
* if it chooses to invest, by way of purchase of shares, rather than by
way of acquisition of assets it will be an active investor in the way that it
manages those investments; and
* if it chooses to acquire further assets it will be the intention of
Xceldiam to initially rely on the corporate finance, legal and geological skills
base along with the investor base that is available from companies associated
with Michael Nunn to facilitate initial assessment of new projects and
investments. Following which, Xceldiam will appoint full time staff to the
projects should it be deemed appropriate.
1 MONTH CHART
1 YEAR CHART
Active
- 09 Aug 2007 19:52
- 4 of 4
44% rise today!
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