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Wow........CIBC sold over 2 million shares yesterday.....big private guy
No fund. private investors. They will be back in a few months time
I heard the selling came out of Sweden......big fund???
big dump + TSX index pucking should bounce back IMO
big dump + TSX index pucking :(
Weird trading today.......big dump............????
I can honestly say, that I belive that 99% of every Swede that has ever owned a share in AFA thought they would issue some kind of reserve statement within days. I am a chicken so I never dared to call the company and find out answers to my questions, hence I believed what was said to me by others. Damn, just proves one has to do ones own DD. I am not 100% fluent in English so I prefer not to use the phone.
A word of caution though!! The stuff I wrote in the previous post are NOT official facts that have been made public in writing by the company! It's best I make this clear. But it's what has been told to me and the way I have interpreted it. Again, this might turn out to be wrong, I hope I will get more details tomorrow. Maybe I portrayed it too much as hard facts, it's my personal interpretation of info told.
In my personal view the future looks bright. Hopefully, the company will issue some sort of statement soon.
The last section that told of the geophysic study. THIS is the point I am the least certain of. I don't know what will be in this and how it will look, so it might turn out there will be NO talk of any potential diamonds in it. It's best I tell this so no one gets mad if it proves not to be the case.
Regards
well if you read the AFA presentation you would have found that out...i was surprised whe you said you thought the thing would come in a couple of days...but this is very nice.
Jontar, some good news!
I just got word from a a source I trust (not to say that you should trust me...), who has spoken to the company. He has bought a lot more today.
I copy here a message from Stockhouse, that shares some light to this awful day. This is how I view it.
"Some info got around, that actually wasn't all that bad. And here is why.
Truth = 99% of the Swedish investors, including myself, was convinced we would see reserve estimates within days. That was not true it turned out.
Truth = It will take a couple of more months before reserves estimate is here. From what I understand, most of you fine Canadians have believed this all along? I salute your wisdom.
Truth = They have found more entrapments than previoulsy reported. If they contain diamonds, I have no clue. But that's a god sign! Very good.
Truth = (and this one might be important) They will soon issue a press release that will state some kind of geophysic survey over the area. I am far from an expert, but in my eyes this could v e r y well contain expanded reserve/resource potential! -- If this indeed is the fact, then we might see some kind of potential of, say 3-5M Carats! And then we are in the front seat of a major share price increase. Actual reserves will most likely not show up for 6 months or so. But we might get a really, really nice boost to the potential of Block J very soon.
Just a few thoughts on this blasphemous day."""
thanks for shedding some light on this subject guys
Here's a better explanation made by the same guy.
A Swedish guy called the company. They gave info that next info will not be any estimates of diamonds, instead that they would do some geophysic expedition (I am not 100% sure what kind of expidition it was)of some sort. The new ship will go out to sea in 3-4 months and do another round of samplings.
NOTHING has changed, EXCEPT the date of the reserves estimates. I am wetting my pants with disgust, since info was delivered to me that could only be interpreted that we were only days away from that reserve update. I bought most my shares at 0.40 ( bummer!).
According to the guy who made the call, I have high regards for him, not his fault, Dick Foster has found ADDITIONAL entrapments....
So, a domino effect was born..
Sad, I hope tha company issues some sort of reply to this. Even more sad is that Bernard sold share at 0.42 a while back.
From the stockhouse board..explaining the puke..
SUBJECT: Phone call Posted By: Oilminerdeluxe
Post Time: 6/7/2007 12:01
« Previous Message Next Message »
is the cause of the blasphemy. It appears that reserves won't be presented for many months yet. That Sucks BIG TIME!! Not what we've been told. It appears they have found more entrapments though, but now its clubber time.
really nice eric
TA Analysis from a Technician..
Hey guys..just got this from another board. Sounds interesting ;)
Todays analysis:
Im very happy to present todays Technical-analysis of the stock AFA.
Today, we´re talking about really oversold levels with addaded indicaters that strenghten the scenario.
New indicaters are CCI-standard and the fact that a nice trendfloor has formed.
Look at the attached picture for a closer look at levels, historical simmilarities and patterns, my thinking etc.
Summary:
- Stochastic oscillator has reached a level of strong oversold values like a couple of times before. Last time the stock went up 50 %.
- Momentum has finally reached an oversold level like a couple of times before and should turn up anytime now.
- CCI is an indicator that shows oversold levels like a couple of times before.
- The stock follows the lower trendline nicely and should turn up from here like 3 times before.
- RSI (Relative strenght index) is also oversold. Even MORE oversold then the last time when the stock went up 50 %.
Ill hope you also see the patterns and what a great time to invest in AFA this is.
December
Do you have any nice details from the meeting you would like to share with us?
The magic pinkie toe says PR comes on Thursday.
The magic pinkie toe never fails, it's always right... or wrong.
It will ;)
thats pretty nice
i hope the African coast can provide the diamonds...
somebody at the presentation told me that they think that there probably is more then 5M.
Don't we all ;)
I want the NR that says 5M Carats!
it is going to break 40 cents
with the strength of a diamond!!!
just watch
Does AFA trade in Europe?
np, must have been a great presentation....
Nice find Brief case! thanks -e-
This is from a Presentation AFA did on Friday in Montreal, from another board:
Good morning everybody!
Before we get to the presentaion, I would like to take a moment to thank our research team who attended The Dick Foster presentation, and especially our research Professor, who contributed to most of what you are about to read!
Here we go!
Did you know that Nambia is the largest diamond producers (by value- average carat value of US $276)? And in 2001, over 60% of Nambia's 1.6 million plus carats per year diamond production actually came from the sea (95% of the diamonds are of gem quality)?
These are just some of the interesting points welearned at the presentation of the Afri-can Marine Minerals held in Montreal on Friday morning.
The man at the helm of the discovery, Chief geologist for Afri-can Marine Minerals, Dick Foster ( formerly of De Beers) is your salt-of-the earth geologist with a catchy South African accent. He holds a BSc in geology (graduated with honors) from Imperial College of the University of London: he has far-reaching experience in the marine diamond industry, what with 32 years working for De Beers before retiring in 1996. With De Beers he was Geological Manager for 11 years, where he was extensively involved in the management of exploration and mining programs.
What particularly caught our attention is the fact that Dick led the team that discovered major diamond deposits on the mid-continental shelves (in the ocean)off South Africa and Nambia during his tenure with De Beers.
The presentation, through projected maps and photos, clearly showed where Afri-can Marine Minerals are exploring their property. Representing near-term production potential (and that is really significant) the northern concession, the Woduna (Block J) concession area, is adjacent to a region where Marine and Coastal has estimated inferred diamond resources exceeding 4.25 million carats.
Due to tidal currents, many of the rivers flow eastward, landing in a rather narrow shelf off the east coast. However, due to certain geographical sloping, the westward flow that spills onto a much wider shelf, has shown very extensive rich deposits. And here is where Block J is located.
Diamonds in a nutshell: (website info)
Diamonds are found in volcanic pipes known as kimberlites. These kimberlites are areas of thick continental crust that are more than 2.5 billion years old. Most of the mineralized kimberlite pipes were embedded in the (present day) Orange and Vaal River drainage systems during the Early Cretaceous Period, dating back 90 to 120 million years. Erosion plays a role in this process, and it is estimated that the uppermost 1,400 meters of the pipes int he Orange/Vaal catchment area were removed and transported in the sea westward drainage systems. An estimated 3 billion carats of diamonds have been delivered to the sea, with the majority of which lies north of the present day Orange river mouth off the shores of Nambia.
Diamonds in marine areas are typically trapped in bedrock depressions eorded from various structures such as bedding planes, faults of joints in hard bedrock. These form gullies, potholes, basinal depressions, channels and other trapsites for diamondiferous deposits.
Mining diamonds: (website info)
Since the early 1990's, mining technology has become availalbe for the commercial exploration of marine diamond deposits. De Beers were the frist to devleop the mining technologies known as the vertical and horizontal systems. The vertical system uses a 6-7 meter diameter drill head to cut into the seabed and suck up the diamond-bearing material. The horizontal system uses remote-controlled vehicles, known as seabed crawlers, which move across the sea floor pumping up gravel to the mothership to be processed. In both cases, the diamond-bearing gravel is screened or sized and a diamond concentrate is recovered and sent to an X-ray recovery plant. Both NAMCO and Diamond Fields use variations of these two technologies that take into account the sea floor conditions of their mining concessions. With the commercial application of new mining technologies at increasing water depths, marine diamond production is expected to continue to grow in the future.
AFA relies on specifically outfitted boating vessels provided by IMB. One of the unique aspects of these drilling boats is a massive drill driving throgh the center of the boat, allowing for the boat to act as weight behind the drill. It is clear: it is safe: it is extremely cost and time efficient.
Unlike metals, diamonds rely on inferred and ???? estimates for resource counts in establishing the company's value.
Another point of interest that Dick mentioned, and something that indicated to us that AFA has some of the best minds in the diamond business, is that Afr-can Marine Minerals is going to the identical depths that De Beers has gone, which is precisely where De Beers discovered their bounty; one hundred and twenty meters in the seabed.
No other diamond mining company in the region has drilled to these depths except for Afri-can Marine Minerals and of course, De Beers.
Because of the marine location of these diamonds, you will find a smoother surface on these gems. Just as wind and water affect stones on mountains and rivers, so does the lapping tide affect diamonds. Dick spoke with such enthusiasm about his work with Ari-can Marine Minerals that you could not help but leave at the end of the presentation with that contagious feeling that you caught the bug. The diamond bug, that is.
On a brief political note, the Republic of Nambia obtained its independence from South Africa in 1990. They have established a constitution, recognized as one of most democratic in the world. The government is a multi-party unitary republic, boasting one fothe most politically stable, well-developed countries in Africa.
LETS DISCUSS MONEY AND VALUES
In order to understand what AFA shares are worth, we addressed this question to the president and CEO Pierre Leveille!
He told us the simplest way of calculation as far as determining an idea price per share all one has to do is calculate one million carats equals $0.50 to $0.60 cents a share!
you also have to keep in mind that diamonds are different then gold in calculations as diamond are as you find them , its like a squarrels gathering food to fill their nest!
as for gold they drill to prove up a resource!
After hearing all the information about this amazing country, we as a team believe that AFA is walking the same foot-print as De Beers, and for them to gather 4 to 5 million carats will be a reality in the future!
as far as the share price $2.50 to $ 3.00 on their first endevers, for us is a given!
They also have much more blue sky after that!
I hope that you all learned something from our work, as we truly enjoyed telling it to you all.
I suggest that you all do your own due diligence
Herb
and Team
I will put something togetehr for you on Monday bud............I ahve notes ......they are at the office
I take it, it won't be 4-5M ounces in that PR?? I think they will end up with a lot more than 4-5M ounces as the years pass by though.
Many thanks for sharing.
Did they say anything of how many M carats of diamonds they expect to be in the next PR?
Any words on when commercial production will commence?
regards
I attended the meeting..it was really nice, very informative. The CEO was really honest and straighforward. Mr. Foster did give a good show but it was backed with some good DD, we could see that he was an expert in his field. The main thing that I got out of the presentation is that AFA has high probabilities of finding huge amount of diamond. They are situated just beside the De Beer's deposit. The good thing too is that they already found diamonds in the Block J section where they are currently exploring.
I was impressed by the technicalities of the boat that they'll be using..They have the best equipment available for their research. One thing that I liked a lot is that 1 million carats of fiding is worth 50 cents per share. and they intend to find 4-5 million ounce..which makes the stock quite undervalued. :)
December!!
You were at the meeting?? Perhaps I am rude, but would you mind writing a short summary? I haven't gotten the info I wanted from the other guy that said he attended the meeting.
Regards
I know. The meeting was amazing. AFA should do ver very well........
I expect to get news from the meeting today. If I do, I will post it here if no one else has by then. The guy who was there seemed extatic. Hopefully he will answer the questions I mailed him.
I think we have the goods on this one, but one must always be cautious. Apparently, Mr. Foster put on a really good show.
Haven't been this excited in a stock in a long, long time.
GLA
nope......just hold on
sweet, do you have a ETA
stock is alst @ .38........we are going to breakout on news
*AFA* Nice trend..
The stock is moving up nicely, Im sure we will test 40 cents again real soon ;) this company is solid..and with 2morow's presntation, the MOMO could really start..Some big names will be there IMO
yeah funny how that works
*AFA* lol..funny..AFA holdint the 35 cents level..building higher support everyday ;)
its all uphill from here on!
i foresee a couple of dips but not too many
cause DIAMONDS ARE FOREVER
Sounds good Gene..AFA is in a really strong uptrend. Anything is possible here he he ;)
I think there's s good chance we see 0.50 cents this week:))
If news comes as good as I hope, we will be closer to 1CAD. But when that NR comes is harder to say. Could be tomorrow if we're lucky:)
Good Luck
Hey Gene, I think the stock is rising on nice expectations..I have been told that the financing side has been taken care off and that that a group is pushin the PPS much much higher :) We could see 50 cents ++ real soon..It seems the stock wants to test its 52 week high AGAIN :D
Analysts meeting this Friday in Canada!! Maybe news will come before that?
Nice close.......keeps chugging along
Very nice...........we are well set up here
Fun Fact
Afri-Can Marine Minerals Corporation have established themselves as one of the largest marine diamond concession holders in Namibia with a total of 28 EPLs covering a total area of 26,500 sq. km.
here:
http://www.sadcreview.com/country_profiles/namibia/nam_mining.htm
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