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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
- 08 Aug 2007 20:00
- 2 of 4
A cash shell looking for investments or reverse takeover opportunities since the old business was sold to Petra Diamonds. A flurry of 100K buys have been reported near 3 pence over the last few trading days. Some strong activity could be about to happen IMO. I bought in with 25,000 shares at 3p + 25,000 at 3.25p + 22,489 at 3.25p. Also, a 100,000 BUY again came through at 3 pence today!
Active
- 08 Aug 2007 22:02
- 3 of 4
The mining business was bought by Petra Diamonds at 50 pence per share in March 2007. The company retained the AIM listing and the dive in the price happened to reflect the value of the current assets i.e. machinery + cash. Since then the company has made noises about the kind of investments they will be working on. The below director is the key here and he has stayed on the XLD board.
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The Remaining Directors have the following expertise in respect of evaluating
and acting on the investing strategy:
- Michael Nunn is a South African mining entrepreneur, recognized as
the pioneer of the worldwide tanzanite industry. He was the founder and CEO of
AIM quoted Tanzanite One and remains the major shareholder. Mike also founded
and developed Afgem Limited of which he is also the major shareholder. Mike is
currently Chairman and CEO of AMARI (African Mining and Resource Investments)
which he founded in 2006 to consolidate his various mining interests and pursue
a wide spectrum of resource opportunities throughout Africa. He is the founding
member of Xceldiam.
----------------------------------------------------------------------
The Remaining Directors have the following expertise in respect of evaluating
and acting on the investing strategy:
- Michael Nunn is a South African mining entrepreneur, recognized as
the pioneer of the worldwide tanzanite industry. He was the founder and CEO of
AIM quoted Tanzanite One and remains the major shareholder. Mike also founded
and developed Afgem Limited of which he is also the major shareholder. Mike is
currently Chairman and CEO of AMARI (African Mining and Resource Investments)
which he founded in 2006 to consolidate his various mining interests and pursue
a wide spectrum of resource opportunities throughout Africa. He is the founding
member of Xceldiam.
Active
- 09 Aug 2007 19:52
- 4 of 4
44% rise today!
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