joe wants his $300 mill back .. DIAMONDS $$

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    Resolution 3 - Ratify the Issue of Convertible Notes $600k

    $500k of these notes were issued to L1 Capital Global Opportunities Fund
    L1 Capital Funds manage over $4 BILLION in funds !

    Why would they bother with a small investment in a penny stock like Merlin Diamonds ?
    I guess that this is their initial investment in MED to be followed by further investments in the company.

    The 2nd point is that it is always positive to see the Chairman's family committing an additional $ 2.5 million to increase their stake in the company. As if the family hasn't a large enough stake in the company already.

    I think the company needs to clarify if the $2 mill note facility announced 31 August is somehow included in the Edensor note issue or are we talking about TWO issues of a TOTAL of $ 4.5 million.
    My bet is that they are somehow connected as there is definitely NO current need for the company to raise in excess of $ 5 mill in funds for their short term cash flow needs.

    This short term dip in the share price gives shareholders the chance to increase their holdings.

    With a MC of barely $20 million I consider this opportunity to be ONE of the lowest risk/high reward investments that I have seen in many decades.

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    your on the wrong junior diamond play imo.

    http://www.pozminerals.com.au/irm/PDF/1787_0/POZtoBidfortheEllendaleDiamondMine

    A well run company, tiny mcap, with an MD working in shareholders interests and his own as he holds 20% :)

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    time will tell joe in his day was the master,, he is back and MED will prove it free cash will talk BS will walk just like ter did at 20 now 60 cash flow the king MED cash cow is coming

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    Rio Tinto to sell diamond business
    Rio Tinto posted a "for sale" sign on its diamond business, signalling the continued retreat of the world's biggest miners from an industry in which they are struggling to achieve scale.
    Rio Tinto to get out of diamonds
    Rio Tinto owns the Argyle mine in Australia, famous for its pink diamonds. Photo: AFP
    Emma Rowley

    By Emma Rowley

    6:50PM BST 27 Mar 2012

    The FTSE 100 miner said it has begun a strategic review of its diamond arm, including looking at options to divest the assets, priced by analysts at up to $2.4bn (£1.5bn).

    The announcement was anticipated by some after rival BHP Billiton last year announced a similar review.

    Rio acknowledged that the market outlook for the stones is "very positive", given tight supply and growing demand - a nod to the powerful spending clout of the middle classes in China and India.

    However, Rio's strategy favours "large, long-life, expandable assets".

    Expansion in diamonds is difficult, given the lack of any major deposit discoveries in recent decades. Growth through acquisitions would also be a task, due to the relatively small size of most diamond miners.
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    "This is a classic case of selling non-core assets in our opinion," said Rob Clifford, at Deutsche Bank. "It [diamond mining] lacks scale for Rio Tinto, requiring the company to either get bigger or get out.

    "Getting bigger is difficult - certainly getting big enough to be meaningful for Rio Tinto will be difficult."

    In contrast, miner Anglo American was recently able to grow its diamond presence by winning control of De Beers, the biggest producer of diamonds in the world - in which it already had a stake.

    The departures of BHP and Rio from the diamond mining world are expected to continue the consolidation across the sector.

    Diamond-focused miners such as Harry Winston and Petra Diamonds will have the opportunity to expand their asset bases or merge to create larger diamond focused miners, said Ryan Long, an industry analyst at Northland Capital Partners.

    Rio's diamond business consists of three working operations - Argyle in Australia, Diavik in Canada, and Murowa in Zimbabwe - as well as the Bunder deposit in India. Together they account for 6pc of global production.

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    Look at the date wtf are you even posting it, w=why not what

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    time will tell RIO are the serial buy at top of mkt sell at low.....cashflow is the king ...come xmas cashflow should be happening out of the juniors med has the most going for it

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    The notes are killing med. The profits are going to have to be shared with that many shares, there is no point. Rubbish

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    Precious blue diamond recovered in the Northern Territory
    Published at Dec 15, 2016, in Juniors

    Blue diamonds are rare and highly sought after, as was proven last month with the sale of a ‘Sky Blue’ diamond in Geneva for just over $17 million.

    In less than a month since mobilising its mining fleet in the Northern Territory, Australian diamond explorer Merlin Diamonds (ASX:MED) has recovered a rare blue diamond.

    MED’s Kaye open pit diamond mine is still in its early stages, having only recently completed a dewatering process of ore that was stockpiled prior to the wet season.

    The discovery of a rare blue diamond within a month of the mine going into production indicates more discoveries may be imminent.

    Blue diamonds are one of the rarest diamond colours, usually commanding prices greater than pink diamonds. In June, a 24.18 carat diamond called the ‘Cullinan Dream’ fetched US$25.3 million at an auction in New York.

    The blue diamond recovered by MED in the NT was relatively small in size (0.124 carats), however it could serve as a demonstration of the potential for valuable coloured diamonds to be sourced from the site.

    MED has stated that the diamond-bearing kimberlite rock at the Kaye pit was ‘rippable’ with a bulldozer, enabling extraction without the need for capital intensive drilling and blasting operations.

    The company advised last month that 16,000 tonnes of ore had been mined to date and that it would continue treatment activities throughout the wet season by treating ore from the stockpiles and ramping up diamond recovery operations.

    It is due to provide a diamond recovery update in the next quarterly report.

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    That's a pretty small blue diamond, they should get 10k to 100k for it, depending on quality. Good to see blue diamonds are around, but med needs to find more than one a month, to keep the light on

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    When is the next death roll 3b coming

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    when stock is 2 cents roll on the cash cow

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    Sandune, do the shares owe you 2 cents

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