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do you have an accurate / current share count
who ownes most of this?
2009-03 investor presentation
http://www.rockwelldiamonds.com/i/rdi/RDI_Corporate_March2009.pdf
2009-06-17 - 57% against removing directors
TORONTO (miningweekly.com) – Shareholders in Vancouver-based miner Rockwell Diamonds have voted down a proposal by Pala Investments Holdings to remove the board of directors.
Of the votes cast, 57% were against removing the current directors. Pala itself owns just under 20% of the company.
Pala wanted to oust CEO John Bristow, chairperson David Copeland and a third executive director, Mark Bristow, in a proxy fight that came to a head at a special meeting of shareholders in Vancouver on Wednesday.
Shareholders also opposed a proposal by Pala that Rockwell's shareholder rights plan be scrapped.
During the run-up to the vote, Pala said that Rockwell faced a “lack of leadership”, while the executive directors accused the company of attempting a “cashless takeover”.
While both sides had agreed the company needed to conduct a rights issue to raise funds, the executive directors lined up a third party, Haywood Securities, to take up any shares not subscribed for, while Pala had wanted to fulfill this role itself, which - without the shareholder rights plan in place - could have increased its holding in Rockwell.
Last year, Pala launched and then withdrew a hostile takeover offer for Rockwell, which mines high-value diamonds from alluvial operations in South Africa.
http://www.miningweekly.com/article/rockwell-proxy-2009-06-17
2009-06-12 Rockwell Executive Directors Cite Strong Fundamentals in Final Appeal for Support
* On Friday June 12, 2009, 3:16 pm EDT
VANCOUVER, June 12 /CNW/ - The Executive Directors of Rockwell Diamonds Inc. (TSX: RDI; JSE: RDI; OTCBB: RDIAF) today made a final appeal for voting support and reiterated their belief that Rockwell shareholders will see through Pala Investment Holdings Limited's thinly disguised cashless take-over and understand that there is a hidden agenda. The Executive Directors trust that shareholders understand the fundamental strengths of Rockwell's business and will not turn over control to Pala's hand-picked nominees in order to give them a mandate to dismantle shareholder protections.
John Bristow, CEO and an Executive Director, commented
"Shareholders will take comfort when we formally file updated independent geological reports within the next 45 days. These reports will show that management continues to technically define and upgrade resources, replacing mined resources. The Company's overall mineral resources have remained mostly unchanged even after 2008 mining at Wouterspan, Holpan, Klipdam and Saxendrift while resources in the indicated category at Holpan/Klipdam showed a 100% increase as a result of confirmatory drilling early in the year. At Saxendrift, geological compilation, re-modelling and reclassification resulted in a 92% increase in indicated resources (with only a 45% reduction in inferred resources for a significant net overall increase). A recompilation of data and re-modelling of mineral resources for the Niewejaarskraal project resulted in 42% increase in overall mineral resources (although the 30% previously classified as indicated was downgraded to the inferred category. See summary table below.)
Diamond sales are ongoing and the international diamond market is showing signs of improvement in terms of trading activity and firmer sales prices, and the Company continues to meet its financial commitments and has room left in its credit line, all contrary to what Pala would have shareholders believe.
Following the credit crunch and the precipitous decline in diamond prices through late 2008, we as Executive Directors have been open in saying that Rockwell should raise funds to bolster its balance sheet. Our situation is no different from that of other alluvial producers who have, with few exceptions, been severely impacted by the precipitous decline in prices. In this respect, we were astonished that the audit committee which includes Pala's general counsel would publicly decry rather than welcome the fact that Haywood Securities Inc. has offered to support the Fair Rights Offering as a competitive back-stop to that offered by Pala."
David Copeland, Chairman and an Executive Director, added
"It is clear that Pala initiated this second contest, at a great cost to our shareholders, in another attempt to seize control of your diamonds using the guise of leadership when Pala already purports to speak to the majority of the board while providing no details of the "restructure" plans referred to in its circular. Pala complains about leadership without offering anything to explain what Pala would have done differently over the recent market difficulties despite having its general counsel on Rockwell's board and so shareholders must be only too aware that they have heard nothing about that from the majority directors who have let Pala do their talking for them.
Two of your three Executive Directors draw no compensation other than ordinary directors fees and this fight has never been about anyone keeping their jobs - it is about the need to ensure the long term success of Rockwell and in the process stop an aggressive minority shareholder from taking advantage of tough times in the diamond business to seize control of what they, and other shareholders, recognize as a professionally assembled portfolio of very valuable assets that produce a unique array of scarce and valuable fancy and large gemstone quality diamonds."
The Executive Directors of Rockwell have established a purpose-specific web site where additional information, including the Executive Directors' Information Circular and Proxy, is available to shareholders relating to the issues concerning the Special Meeting at www.executivedirectorsrockwell.com.
THE FUTURE OF ROCKWELL DIAMONDS INC. WILL BE DETERMINED
BY THE OUTCOME OF THIS VOTE. DO NOT ALLOW A DISSIDENT MINORITY
SHAREHOLDER TO TAKE CONTROL OF ROCKWELL AND YOUR INVESTMENT.
THE EXECUTIVE DIRECTORS URGE YOU TO VOTE ONLY THE GREEN PROXY
AS RECOMMENDED ON THE GREEN PROXY.
Tania Marshall, Pr.Sci.Nat, an independent Qualified Person, is responsible for the estimates for Holpan/Klipdam, Wouterspan, Saxendrift and Niewejaarskraal. Dr Marshall has reviewed the technical information in this release. Technical Reports by Dr. Marshall and Rockwell's in-house Qualified Person will be filed at www.SEDAR.com within 45 days.
For further details on the mineral resources at Kwartelspan and Zwemkuil-Mooidraai, see Rockwell News Release dated March 12, 2007.
Mineral Resources as at February 28, 2009
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Grade
(carats per
Volume 100 cubic
Property Category (cubic meters) meters)
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Wouterspan Indicated 5,025,500 0.70
---------------------------------------------------
Inferred 37,774,000 0.70
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Holpan Indicated 1,137,300 0.74
---------------------------------------------------
Inferred 5,937,000 0.74
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Klipdam Indicated 1,135,200 0.91
---------------------------------------------------
Inferred 2,816,000 0.91
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Saxendrift Indicated 5,063,099 1.01
---------------------------------------------------
Inferred 4,358,143 0.72
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Niewejaarskraal Inferred 20,630,500 0.84
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Zwemkuil-Mooidraai Inferred 1,640,000 0.95
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Kwartelspan Inferred 1,384,577 1.50
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The comments of the Executive Directors in this news release and on the website are solely their own and not of any other director. For general information about Rockwell please visit its own website at www.rockwelldiamonds.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. Investor Services deals with Company information and is not authorized to discuss matters or answer questions relating to the contested special shareholders meeting.
Questions relating to the Executive Directors' positions in respect of the special meeting should be directed to the Laurel Hill Advisory Group by email at rockwellinfo(at)laurelhillag.com or by phone Toll Free at 1-888-882-6737 in North America, 00-800-8655-1111 in Europe or 0-800-982-179 in South Africa or Collect at 1-416-637-4661.
2009-06-11
TORONTO, June 11 /PRNewswire/ - Pala Investments Holdings Limited ("Pala") dismissed today's announcement by the Minority Directors relating to a highly conditional "financing" for Rockwell Diamonds Inc. ("Rockwell", TSX: RDI, JSE: RDI, OTCBB: RDIAF).
"The Minority Directors have failed to successfully organize a financing over the past six months yet miraculously, on the eve of a pivotal shareholders' meeting, they contrive a purported solution," stated Colin Murray, Chief Operations Officer of Pala Investments AG, the exclusive advisor to Pala. "Rockwell Shareholders cannot but see this for what it is, a desperate attempt to draw attention away from the real issue facing Rockwell - quality of leadership."
Rockwell shareholders' meeting will be held June 17, 2009, in Vancouver, British Columbia. Pala's Proxy Circular was distributed to shareholders on May 20, 2009, and is available on www.sedar.com. Pala recommends shareholders vote in favour of all items on the BLUE proxy.
2009-06-10 Hennie Van Wyk, the former owner
JOHANNESBURG, South Africa, June 10, 2009 /PRNewswire via COMTEX News Network/ --
Hennie Van Wyk, the former owner and operator of the majority of the assets of Rockwell Diamonds Inc. ("Rockwell", TSX: RDI, JSE: RDI, OTCBB: RDIAF), and a holder of approximately 4.3% of Rockwell, today commented on Pala Investments Holdings' proposed slate of directors for Rockwell.
"As a shareholder of Rockwell, I have grave concerns about the current mismanagement of the company I helped create. I left Rockwell because of management's inability, under the leadership of the current CEO, to develop a cohesive mine plan and their general struggle to grasp basic alluvial diamond-mining operational concepts," said Mr. Van Wyk. "Pala has put forward a board of directors, including me, that possesses the alluvial diamond-mining, South African, management and financial experience necessary to turn Rockwell around. In addition, I note that the proposed slate of directors enjoys the full support of Rockwell's black economic empowerment partner. As anyone who understands South Africa knows, this is an essential component for success in this country. I look forward to working with the new board to create value for all shareholders, including myself."
Hennie Van Wyk has agreed to join the board in order to take an active role in Rockwell's near-term restructuring by applying his expansive operational expertise and knowledge of Rockwell's particular assets to the challenges facing Rockwell. Mr. Van Wyk has over 15 years of experience in the South African alluvial diamond mining industry. He is one of the most renowned and innovative forces in South African alluvial diamond mining, having spent his whole career in the alluvial terraces of the Middle Orange and Vaal Rivers. Mr. Van Wyk has an unparalleled knowledge of all Rockwell's mining operations and processing plant, having founded HC Van Wyk Diamonds in 1994, which successfully owned and operated the Holpan and Klipdam mines prior to their acquisition by Rockwell. After Rockwell's acquisition, Mr. Van Wyk subsequently joined Rockwell's senior management team as Operations Director in 2006 and continued to manage the development and operation of those same mines. He also oversaw the design and development of all of Rockwell's processing plants and continues to be a sizeable shareholder of Rockwell. Mr. Van Wyk has since left Rockwell due to his frustrations over the way senior management were operating the company.
Rockwell's current Chief Executive Officer said about Mr. Van Wyk on September 25, 2008, "Hennie van Wyk has done a great job in completing and initiating pre-commissioning of the new final-recovery facility some three weeks ahead of schedule...Much of the innovation made in this facility is driven by the many years of practical hands-on experience that Hennie van Wyk and his team accumulated while building a successful alluvial diamond business."
SOURCE Hennie Van Wyk
Copyright (C) 2009 PR Newswire. All rights reserve
Court Upholds Rockwell Directors' Proxy Right
By Avi Krawitz Posted: 06/08/09 10:18
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RAPAPORT... Executive directors at Rockwell Diamonds have retained their right to count votes cast by proxy at the shareholders meeting on June 17. The company reported Monday that the Supreme Court of British Columbia denied the petition of Pala Investments Holdings to strike down the "Green Proxy" form that was issued by the directors to shareholders in advance of the meeting. The Green Proxy allows shareholders who cannot travel in person to the meeting to appoint a representative, whether one of the directors or another attendee, to cast their votes for them.
Pala, which owns a 19.9 percent share in Rockwell, called the special shareholders meeting on June 17, proposing to remove John Bristow, Rockwell's chief executive officer (CEO), and directors David Copeland and Mark Bristow. "We are pleased with the court's ruling, as it is clearly an affirmation of shareholder rights,” Copeland said. “Pala's attempt to have our Green Proxy withdrawn was an underhanded way of stifling the dissenting voices against Pala's brazen attempt to indirectly take control of Rockwell.”
Unhappy with Rockwell’s share performance, in April Pala launched its second attempt to replace the diamond mining company’s management. Rockwell then failed to submit its financial results on time due to a “breakdown in internal controls.” Rockwell shares have dropped 79 percent in the past year. They rose 43 percent to CAD 0.1 in morning trade Monday on the Toronto Stock Exchange (TSE).
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=26627
8th June 2009 Wrangling continues as Rockwell vote nears
By: Liezel Hill
8th June 2009
TORONTO (miningweekly.com) – Vancouver-based diamond miner Rockwell Diamonds and dissident shareholder (and one-time suitor) Pala Investment Holdings continued their war of words on Monday, banging out press releases within hours of each other.
Rockwell's executive directors – who Pala wants voted off the board – scored the first hit after the Supreme Court of British Columbia on Friday denied a petition from Pala that the executive directors' proxy for a June 17 shareholders meeting be struck down.
Pala called the meeting for a vote on its proposals to replace the board, remove the company's shareholder rights plan and launch a rights offering in which it would take up any shares not subscribed for.
However, Pala celebrated its own victory on Monday, after independent advisory service RiskMetrics recommended that shareholders vote in favour of the changes proposed in Pala's proxy circular.
Rockwell shares leapt 54% on Monday afternoon, to C$0,10 apiece by 15:15 in Toronto.
Pala says that Rockwell faces a “lack of leadership”, while the executive directors – CEO John Bristow, chairperson David Copeland and Randgold Resources CEO Mark Bristow – argue that Pala is attempting a cashless takeover.
Last year, Pala launched and then withdrew a hostile takeover offer for Rockwell, which mines high-value diamond from alluvial operations in South Africa.
http://www.miningweekly.com/article/tit-for-tat-continues-as-rockwell-vote-nears-2009-06-08
Jun 8, 2009, 12:58 p.m. EST
RiskMetrics Recommends Pala's Slate for Rockwell Board
TORONTO, June 8, 2009 /PRNewswire via COMTEX/ -- Pala Investments Holdings Limited ("Pala") welcomes the recommendation published by RiskMetrics today with respect to Pala's proposed changes to the Board of Directors of Rockwell Diamonds Inc.
The independent voting advisory service RiskMetrics Group, a leading provider of risk management and corporate governance products and services, has issued its voting recommendations for the upcoming special meeting of Rockwell shareholders to be held next week. RiskMetrics fully supports the election of the independent directors proposed in Pala's Proxy Circular.
"The RiskMetrics recommendation highlights the quality of the independent board proposed by Pala," said Colin Murray, Chief Operations Officer of Pala Investments AG, advisor to Pala. "The real issue facing Rockwell is the current lack of leadership. The shareholders meeting to take place next week provides shareholders with the opportunity to exercise their rights and do something about the situation."
Additional information on these matters and details about the upcoming Rockwell shareholders' meeting can be found in the Proxy Circular mailed to shareholders on May 20, 2009, and available on www.sedar.com.
http://www.marketwatch.com/story/riskmetrics-recommends-palas-slate-for-rockwell-board?newsid=962179681&dist=bigchartssymb%3DRDI&sid=2714433
operations are shut down due to diamond markets
Yeild of DBG has been decreased also.
are you still in this?
Another boiler room stock, This took many people down with this
collapse.
RDIAF NEWS 9/16/08:
Rockwell Responds to Allegations That Pala Denied Right to Vote at AGM
VANCOUVER, Sep. 16, 2008 (Canada NewsWire via COMTEX) -- Rockwell Diamonds Inc. ("Rockwell" or the "Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) responds to the announcement by Pala Investments Holdings Limited ("Pala") that Pala was denied the right to vote its common shares of Rockwell at the Company's annual general meeting (the "AGM") held September 15, 2008 in London.
To vote at the AGM, as is the case at all annual meetings of public companies, a shareholder was required to either be a registered shareholder or properly instruct their broker or financial intermediary to vote at the AGM. Pala is not a registered shareholder of the Company and therefore was required to either deposit a proxy within the appropriate timeframes or deliver a letter from a registered shareholder appointing Pala as its authorized representative at the AGM. Contrary to its press release, Pala did not meet these requirements. According to the voting report prepared by the Company's transfer agent, Computershare, Pala neither deposited a valid proxy nor delivered a letter on behalf of a registered shareholder appointing Pala its authorized representative.
The Chair of the AGM carefully considered the request of Pala to vote at the AGM and adjourned the meeting to examine, with the assistance of independent counsel and the independent scrutineer appointed at the AGM, the shareholder register of the Company and the report of proxies validly deposited with the Company. The Chair ruled that Pala had not met the requirements to vote at the meeting. Before ruling, the Chair allowed Pala and its counsel time to examine the shareholder register with a representative of Computershare and to make further submissions regarding its failure to adhere to the stated voting procedures. The Company notes that certain other shareholders, some of whom wished to cast sizeable votes in favour of the motions before the meeting, were not allowed to vote at the AGM as they also failed to comply with the applicable voting requirements.
For further details on Rockwell Diamonds Inc., please visit the Company's website at http://www.rockwelldiamonds.com.
<<
John Bristow
President and CEO
we will be updating the ibox this week thank you for your patience
also... please, if you have any questions that we could add to a couple of surveys, please feel free to share them with me.
thanks to everyone in advance!
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Rockwell (JSE:RDI, TSX:RDI, OTCBB:RDIAF) is focused on creating a growth-oriented mid-tier diamond mining and development company. To meet this goal, the Company has an interest in several producing and exploration alluvial diamond properties in southern Africa.
Rockwell is listed on the Johannesburg Stock Exchange (JSE) under the symbol RDI, the TSX under the symbol RDI and the Over-the-Counter Bulletin Board and trades under the symbol RDIAF.
Investor Services
Susie Bell
Email: susiebell@hdgold.com
Toll Free: 1-800-667-2114
Ph: (604) 684-6365
Fax: (604) 684-8092
Rockwell is currently sitting with 238,041,569 shares issued and 399,420,623 fully diluted.
Rockwell's objective is to create a mid-tier diamond mining and exploration company that will provide shareholders with the potential for growth and added value. Longer term goals are to identify and acquire other diamond opportunities that are in production or near production.
Rockwell has acquired interests in the following alluvial diamond properties in Africa:
• Holpan-Klipdam Property, South Africa
• Wouterspan Property, South Africa
• Saxendrift and South Bank Middle Orange River Operations and Projects, South Africa
• Makoenskloof Project, South Africa
Investment Highlights
• Proven existing operations with scaleable capacity and long-life resources
• Average diamond production is predominantly +2 carat gemstones
• Virtually all alternative Canadian diamond company investments entail high exploration risk with no operations
• Comparable South African diamond company investments lack modern plant and equipment, expertise and exploration potential of Rockwell
• Experienced management and operational team with extensive knowledge of the diamond industry
http://www.rockwelldiamonds.com/rcw/Home.asp
Media Coverage
Date Media File Current Rockwell Diamonds - Corporate Video VIDEO May 2009 Doing Well by Doing Good
Upfront Sustainability - Peter CaulfieldMarch 20, 2009 Surviving the Meltdown
Creamer Media's Mining Weekly Online - www.miningweekly.comSept 29, 2008 Rockwell Snubs Pala Bid
The Northern MinerJune, 2008 The Rockwell Stones
The Northern Miner - Diamonds in CanadaMay 28, 2008 Rockwell Evaluating "Number of Opportunities" for Growth
Creamer Media's Mining Weekly at www.miningweekly.comMarch 6, 2008 CEO Clip Video (Company Execs Online) VIDEO Apr 11, 2008 Rockwell to Hunt Congo Jems
Streetwire (Stockwatch)Apr 11, 2008 Rockwell on Growth Plan
Modern MiningApr 7, 2008 Rockwell Diamonds Steps up Production Plan
Streetwire (Stockwatch)Apr 7, 2008 Rockwell Diamonds Goes Big
The Northern MinerMar 25, 2008 No End to Excitement for Diamonds
Wirtschafts BlattMar 19, 2008 Rockwell Diamonds Polishing up its High-End Diamond Act
Dow Jones NewswiresMar 8, 2008 Rockwell Makes the Leap to the Big Board
National PostJan 18, 2008 Rare Pink Diamond Discovery
Creamer Media's Mining WeeklyJan 2, 2008 Rockwell Diamonds - Centered on Consolidation and Growth
SA MiningDec 11, 2007 James Allan Interview with David Williams "Diamonds: An Investor's Best Friend
Summit TVAUDIO Dec 5, 2007 Rockwell Gets $1,05m for Gem
BusinessDay onlineNov 30, 2007 Dr. John Bristow Interview
with Alec HoggVIDEO Nov 30, 2007 Dr. John Bristow Interview
Creamer's Media Mining WeeklyVIDEO Nov 30, 2007 Rockwell to Seek Cash Flow Deals
Mining MxNov 30, 2007 Rockwell Unveils 80,000 ct/y High-Value Gem Plan as it Makes JSE Debut
Mining Weekly onlineOct 11, 2007 Rockwell Set to Boost Diamond Sale Values
Northern Miner onlineSep 25, 2007 Investors Bullish on Alluvial Diamond Deposits as Prices Take Off
Business DaySep 7, 2007 Diamond Mining - Big is Beautiful
Financial MailAug 29, 2007 Alluvial Miners Find Fresh Legitimacy
Mining Mx | www.miningmx.comJul 1, 2007 Rockwell Diamonds Inc.
Mining Journal - The Diamond Industry "From Mine to Mistress"Jun 29, 2007 Rockwell Positions fro SA Diamond Law Changes
Mining Mx | www.miningmx.comJun 29, 2007 Rockwell Receives "Consistently High Prices" in Gem Sales
Mining Weekly onlineJun 20, 2007 Rockwell Diamonds to Get on Board in Toronto
Business Day online (Africa)Jun 19, 2007 Rockwell Diamonds and i to i Technologies in World-First Security Initiative
Moneyweb Undictated/In Business Today | www.moneyweb.co.zaJune 1, 2007 Interview with John Bristow
Mining MirrorJun 1, 2007 Coming Full Circle: Diamonds in Kimberly
Mining MirrorMay 28, 2007 Rockwell Diamonds Plans JSE Listing by September
Mining Weekly onlineSep 3, 2006 Diamonds May be An Investor's Best Friend
Calgary Herald
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