See www.riverdiamonds.co.uk !!!

Someone posted elsewhere that the Panguma area in SL is very promising and surely they must have got something out of Melgueira !!

Weekly Small Cap Review

River Diamonds in Rio agreement

18 Aug

River Diamonds shares soared after it entered into a $20m option agreement with a subsidiary of Rio Tinto over the exploration and development of two large prospects in Brazil.

Under the agreement, Rio TInto Desenvolvimentos Minerais (RTDM) has the option to acquire up to 60% of the prospects, named Batovi and Alto Paraguai, by spending at least $10m within a four-year period.

"In addition RTDM have the option to increase their stake to 80% in each of the properties by completing a standard feasibility study that Rio Tinto submits to the Investment Committee of the Board of Rio Tinto plc together with all related reports and supporting documentation," added the statement.

The agreement requires RTDM to provide geophysical data, drilling results, sampling results, and reports on the properties carried out to date.

As a result, River Diamonds will pay Rio Tinto $150,000 over a period of a year and a quarter and spend a minimum of $1m to explore the areas.

We are confident that our experience in diamond exploration in Brazil combined with Rio Tinto's expertise will jointly serve to realise the true value of these prospective projects, said executive chairman Colin Orr-Ewing.

Just cannot believe that nobody has posted about this company for over a year. I bought into this on hope that Melgueira would produce lots of diamonds. It didn't and I got stuck with a lousy investment.

However things are beginning to change. RVD now have an interest in Panguma in Sierra Leone. Also in addition to the geophysical data they have a new exploration manager (Frank Gaunt) in Brazil.

Recently they produced excellent first drilling results from Panguma and on Friday announced the appointment of a new exploration manager James de Jager.

Expect news very soon from both Melgueira and Panguma where there may be more dykes than previously thought. Whether they all have diamonds only time will tell but this company looks like it's begiining to take off.

In Brazil, not the place to be at the moment

Why is that Jameel?

Anyway isn't Panguma enough to make this company?

Boboabout:
It seems like someone has heard you.The site is free to register so that you can
read the whole article.

http://www.proactiveinvestors.com/registered/articles/article.asp?RVD

River Diamonds: Panguma Dykes Project in Sierra Leone could be very lucrative for River Diamonds
By Ian Mclelland

Diamonds. Extremely difficult to find, and even more difficult to find in high enough grades to justify mining.

So why on earth are there so many diamond juniors on AIM? Pure potential. The sheer value of an economic deposit of diamonds is quite staggering - especially if it is a kimberlite. But diamonds can be mined in other deposits too, including alluvials and dykes. River Diamonds, as with many diamond exploration juniors, has the short game focused on a potential near term cash flow project - a dyke system in Sierra Leone, while the long game is focused on finding kimberlites either in Sierra Leone or Brazil

media comment, Click HERE

RVD is on the move now. I bought in yesterday at 2.748p.

The company owns 19% of Westech, who in tern hold all the permits for the Vatukoula gold mine formerly Emporer gold mine in Fiji.

Share traders link above is really worth reading, in conjunction with the last operational update from the company.

Blasting starts in a week or two as they recommission the mine that has been a major gold producer since 1939.

The 400,000 share sale that has just gone through is in fact a purchase. If you trace back the dealing time, late reporting, on the trades page you can clearly see this. Positive buying support, the only way is up.

oilyrag

I'm in at 3.05

Why is TMP's sp going down?

Templar Minerals Limited
22 October 2007

22 October2007


Templar Minerals Limited

('Templar Minerals')


Acquisition of further shares in River Diamonds plc ('River Diamonds')
Templar Minerals, following market purchases of 5,000,000 shares between 18 and
19 October 2007, has increased its holding in River Diamonds to 285,000,000
ordinary shares of 0.1p representing 26.18% of the total issued share capital of
River Diamonds. The aggregate cost of the shares purchased was 119,000.

Further information on River Diamonds as required by the AIM Rules was provided
in the announcement of 11 October 2007.

River Diamonds

http://www.riverdiamonds.co.uk/

I dont know driver, prehaps the markets feel that TMP are the ones taking the risk as their future capital is dependant on Westech producing gold. RVD however has risen purely on speculation and investment from people like TMP. IMHO I dont see RVD dropping until investors try to liquidate their holdings.

If this is all successful then prehaps a back up punt on TMP is worthwhile as their prices are considerably lower than normal at the moment. DYOR.

I'm intrested to hear other viewpoints on this, good luck to all holders.

Hi Driver and Oilyrag: I bought in on Friday, too: at 2.74p. Had been keeping my eye on this and had the usual dilemma of deciding what to sell first. Anyway, great to see this in profit already - hope it keeps going up from here!

oily .... as far as I can see, then most of the shares that TMP have in RVD were obtained in the recent private placing. They got 250m @ 1.5p. So that isn't a bad return for them in less than a month. Prior to the placing, they held 20m. So they picked those up before recent rise in RVD share price. Only the last 15m shares TMP have picked up in RVD were since the placing and in the open market. The Chairman of TMP was a Manager at the Fiji mine (that RVD have their 19% interest in) a few years ago (1989-1992). So presume he has utilized his knowledge and connections to build the holding in RVD.... So I'd say TMP had been pretty canny so far with picking up RVD shares. Time will tell if fall in TMP share price is due to them
a). initially being 'overpriced' at IPO
b). the recent seller getting out at any price for whatever reason
c). a skeleton in the cupboard yet to come out

... Await with interest the progress of both RVD and TMP....

I must be honest but until last week I'd never heard of Templar diamonds. Their MD used to be with Emporer Mining and so must be fairly knowledgeable about the Fijian mine. Surely he wouldn't back buying into RVD in such a large quantity if there was nothing there. What really confuses me at the moment is why, if there is considerable value left in the mine, then why did Emporer mining pull out, or where they pushed. Can anyone shine any light on this, thanks.

This is what previous TMP RNS included: "The mine was placed on care and maintenance in December last year due to corporate problems with its previous owner's gold hedging book and non related issues. The Directors believe that these issues no longer impact the Emperor mining operations and the expected re-commissioning of the mine later this year."

Note Fat Prophet's article from Feb 2006:
http://www.emperor.com.au/abouteml/FatProphets_28Feb06.pdf

And whilst on the subject of Gold, why did Gordon Brown flog off the UK gold at $2xx / oz ?

TMP's on the up.

Survived87... because he needed the cash to build his great economic dam behind which he has built his UK economic miracle which is just about to breach the dam!

diydave..... pity about the price he got for it (gold bullion) at the time he flogged it ..... it'd have been useful to keep a bit back for rainy days at Northern Rock.....

PS: 'nice' to see both RVD and TMP mid-price up on the day ....

TMP now up 34%+ I got my timing wrong should have gone for the other one.