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MED, MERLIN DIAMONDS LIMITED
flaneur
post Posted: Apr 18 2013, 08:43 PM
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In Reply To: ShareScene.com's post @ Dec 11 2012, 01:25 PM

MED, NAD, SKR people. Since the last post on MED a few things have happened and an update is called for.
A Singapore company Innopac wants to buy all MED shares for about $33 million ($0.25 per share)
But MED will have an operating margin of about $9.20 per share. Not a good deal, what...

MED Merlin Diamonds, previously NAD North Australian Diamonds, previously SKR Striker
is worth considerably more than is portrayed in the Bidder statement and the Target Statement.
You may be tempted to sell MED and accept the premium of anything between 11% and 50%
on the recent MED price, but before you do, read the following.

According the last three MED Annual Reports (AR) there are 7.2 million carats to be dug up.
According the 2010/2011 AR cost of digging up would be about US$160 per carat.
The same report stated that the margin would be about US$170 per carat.
The total operating margin would be about US$1.224.000.000. At this moment MED has
according AR 2011/2012 some 132.783.427 shares. That is an operating margin of
US$9.20 per share. And you are thinking about flogging the li'l darlings for 25 ozzie cents......

According AR 2011/2012 MED will use borehole mining. That should reduce the operating cost considerable and therfor increase the operating margin.
Innopac values MED at about 132.783.427 x $0.25 = $33 million dollars. Do you agree with that?? I do not!

The directors recommend that you accept the Innopac offer. Yes, if you bought in very recent years you probably will be in front, but if you bought in before the 1 : 20 consolidation during 2010, you will hardly break even after the dust settles.
They say the offers present a premium on the MED price. Well, that premium can go up or down by the time this all settles, but in no way presents the value of the Merlin diamonds and other projects that MED has on the go.
They say that Innopac is a more liquid investment. Yes, the leftover small MED shareholders realise that they are onto a good thing and refuse to sell.
They have seven other reasons why they recommend you to sell, nothing concrete, just a bit of fearmongering, hyping you in selling to Innopac.

Of course the chairman of Innopac gives also resons why you should sell to him, but nothing that cuts wood (or diamonds for that matter).

It is interesting to note that Joseph Gutnik (direct and indirect MED shareholder through Legend and Yandal) has sold about 51% of all MED shares to Innopac and shortly after that JG became a 10.3% shareholder in Innopac, the biggest shareholder of them all.
It is interesting to note that the 3.264.000.000 Innopac shares fluttered around 5 Singapore cents for a longgg time before they hiked to about 20 Singapore cents when the Innopac take-over bid became known. In other words before the MED take-over bid Innopac was not such a hot drop.

Well, to cut a long story short, after reading the documentation I won't sell. Please help to keep this company Australian!

 
ShareScene.com
post Posted: Dec 11 2012, 01:25 PM
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Posts: 4,290
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Company name updated -

From: NORTH AUSTRALIAN DIAMONDS LTD (NAD)
To: MERLIN DIAMONDS LIMITED (MED)

Regards, ShareScene.com

 
angk43
post Posted: Nov 19 2009, 11:07 AM
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In Reply To: Trading4Success's post @ Nov 9 2009, 09:17 AM




In excess of 1,800 carats of diamonds have been recovered with the largest diamond a 10.77 white gem quality ‘special’ stone. The +1carat diamonds represent 450 carats of the parcel.

This is from last quaterly activity statement, however shows no assets, no revenue or income from the sale of the diamonds and no real photos of the diamonds, wouldn't you show the 10.77 white gem..to the world .





 
Trading4Success
post Posted: Nov 9 2009, 09:17 AM
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In Reply To: Trading4Success's post @ Nov 6 2009, 10:49 AM

so far this morning looking strong.

up 9% with strong volumn.

time to take some profits.



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FYI..I trade the Technicals NOT the Fundamentals.
 
Trading4Success
post Posted: Nov 6 2009, 10:49 AM
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i'm enjoying the ride.

bought just on technicals it hasn't let me down.

just hit 6.2 cents.

monthly chart is looking great.

just broken 3 year high.



--------------------
FYI..I trade the Technicals NOT the Fundamentals.
 
Trading4Success
post Posted: Nov 5 2009, 10:47 AM
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In Reply To: Trading4Success's post @ Nov 4 2009, 11:38 AM

no doubt there's some risk here.

i've been following this with Monthly Stock List.

thus far it's going along fairly well, but who knows what's around the corner with this market.

what ever decision keep a tight stoploss & dyor

2 year monthly chart.
Attached Image





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FYI..I trade the Technicals NOT the Fundamentals.
 

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Trading4Success
post Posted: Nov 4 2009, 11:38 AM
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In Reply To: Trading4Success's post @ Oct 28 2009, 08:24 AM

still the only one posting..LOL

w/e23/10 4.6 cents now 5. 3cents (day high 5.5 cents)

NAD 4 year monthly chart.
Attached Image





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FYI..I trade the Technicals NOT the Fundamentals.
 
Trading4Success
post Posted: Oct 28 2009, 08:24 AM
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Posts: 374
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In Reply To: Trading4Success's post @ Oct 27 2009, 09:46 AM

over the past few days i've posted NAD's progress.

seems like i'm the only one following this stock or at least posting.

may see it again in the green today.

also, checkout it's monthly chart.

NAD..1 year weekly chart

Attached Image





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FYI..I trade the Technicals NOT the Fundamentals.
 
Trading4Success
post Posted: Oct 27 2009, 09:46 AM
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Posts: 374
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In Reply To: Trading4Success's post @ Oct 27 2009, 08:36 AM

just managing some small gains today.

this is a good volumn stock, so you've always got some buyers hanging around.

high risk.



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FYI..I trade the Technicals NOT the Fundamentals.
 
Trading4Success
post Posted: Oct 27 2009, 08:36 AM
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Posts: 374
Thanks: 29


In Reply To: Trading4Success's post @ Oct 27 2009, 08:28 AM

sorry i got my charts mixed up.

now have correct NAD 3 month daily chart.

3 month daily chart.
Attached Image





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FYI..I trade the Technicals NOT the Fundamentals.
 
 


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