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@ekim Analysts must feel very very weak in these markets. Check out this rating on $DDC - "Scotiabank reiterated their outperform rating on shares of Dominion Diamond Corp. (NYSE:DDC) (TSE:DDC) in a research report released on Tuesday morning. Scotiabank currently has a $14.00 price objective on the stock." A price objective???? Seriously lame.
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@businesswire Dominion Diamond Announces Fiscal 2018 Guidance: Strong Sales and Adjusted EBITDA Driven by High Value Ekati Production and Solid Performance at Diavik @businesswire/dominion-diamond-announces-fiscal-2018-guidance-strong-adjusted-ebitda-driven-by-high-value-ekati-production-and-solid-performance-at-diavik $DDC $DDC.US
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@businesswire The Washington Companies Disclose All-Cash Proposal to Acquire Dominion Diamond Corporation for US$13.50 Per Share (US$1.122 Billion based on 83.1M shares outstanding) @businesswire/the-washington-companies-disclose-all-cash-proposal-diamond-corporation-for-us1350-per-share $DDC.US $DDC #Diamonds representing a 36 percent premium to Dominion’s closing stock price. Washington founder Dennis Washington is an industrialist and Montana's richest man. 
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@racker "The nature of the mining business favors an owner such as Washington, which has a deep understanding of the sector, a long-term view and permanent capital to invest in the business over multiple decades" $DDC #mining @businesswire/the-washington-companies-disclose-all-cash-proposal-diamond-corporation-for-us1350-per-share
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@racker "We have the resources to fund the Proposed Transaction from existing liquidity. However, we will likely access the debt markets for a portion of the consideration in order to provide the Company with the most appropriate and cost-effective long-term capital structure." $DDC @businesswire/the-washington-companies-disclose-all-cash-proposal-diamond-corporation-for-us1350-per-share
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@Allan Got a sneaky feeling the $DDC shareholders will want Washington Group to have a chance to do due diligence as it sounds like they could get an even higher bid. The board is likely going to hear from big shareholders saying they would like to see what Washington Group can come up with. The Washington Group has run the numbers and look to be coming in with a pretty attractive all cash offer. Looks like $DDC is going private.
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@businesswire Dominion Diamond Corporation Responds to Self-Serving Disclosure of Unsolicited and Conditional Expression of Interest from The Washington Corporations @businesswire/dominion-diamond-corporation-responds-to-self-serving-unsolicited-and-conditional-expression-of-interest-from-the-washington-corporations $DDC.US $DDC
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@JamesKwantes Check out the waterfall slide $DDC took beginning in mid-February, when it was trading for $13.50 Canadian (Washington's takeover offer is for US$13.50) and declined for several sessions in a row. Retail investors tend to shrug at #diamonds but this hostile bid shows a continuing interest in diamonds from wealthy and successful groups -- now the Washingtons but also Lukas Lundin, Anglo-American, renewed interest from Rio, etc -- because the business is very profitable. Wouldn't be surprised to see many of the diamond pubcos catch a bid Monday, there aren't a lot of them. $NAR for example has a JV with $DDC in NWT
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@JamesKwantes Wonder what Ekati co-owner Stu Blusson thinks? Chuck Fipke sold his portion of the mine $DDC
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@ekim If $DDC ends up private, it will make consolidation in the area more plausible. The likes of Stewart Blusson, private company and conglomerate Rio tinto don't necessarily have to disclose the details of a deal. The likes of a Canadian Diamond company with a Canadian Board of directors has to show all the goodies.
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@ekim No doubt in my mind that the 'disgruntled' group of shareholders are involved at some level with this buy out offer from this private North American entity. Whether it was determining a fair price or being a firm yes on the deal to entice other investors to follow the herd. $DDC #diamonds
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@tommy If the Washington Companies are interested, $DDC must be good! Exciting deal. Looks like first chapter.
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@JamesKwantes And outgoing $DDC CEO Brendan Bell was supposed to stay on until June 30 "to ensure a smooth transition" hmmm
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@JamesKwantes What about Rio given the fact they're already in the mix at Diavik, and Jean-Sebastien Jacques' apparent enthusiasm for diamonds? $DDC
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@JamesKwantes Seems the Washington Group - "WashCorps" in Dominion's terminology - is worried about another bidder, judging from this $DDC response outlining demands made https://ceo.ca/@businesswire/dominion-diamond-corporation-responds-to-self-serving-unsolicited-and-conditional-expression-of-interest-from-the-washington-corporations
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@ekim Rio Tinto definitely is in the mix here. They could outbid for $DDC or this company X could sell off the rest of Diavik to Rio Tinto as a side deal to the whole thing.
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@ekim What are the odds that $DDC threw a dart at $KDI to try and swat this whole aggressive takeover tactic? I would say very low...but the coincidence of an after hours news release on Friday night by $KDI followed by these news releases on a Sunday? Just one thought. #diamonds
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@ekim No coincidence that $DDC delivered a strong sales forecast on Friday? Normally you want to look at under promising and over delivering...but if you are forecasting a bid for the company...you want your guidance to be on the bloated side. Wonder if that is exactly what we have witnessed.
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@ekim @90bigpicture you talking about $MPVD ?? Patrick Evans sure is a confusing fella. One moment he says that MPV is interested in M&A...but specifically states not necessarily diamonds. The next he part of a shareholder revolt group for $DDC demanding changes...the next he is having an interview with BNN telling the world that Ekati and Diavik are in their sunset years, and approaching the end of their mine lives. Is he somehow involved in this deal now?
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@JamesKwantes Heard $MPV CEO Patrick Evans speak at Roundup last year and he was very critical of Dominion, although he didn't name them in the talk (but was one of the spokesmen for the activist shareholders). "You must repay the shareholders." My article: http://blog.ceo.ca/2016/01/26/mission-accomplished-on-dominion-diamond-shareholder-revolt-patrick-evans/ $DDC
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@JamesKwantes A further twist: $MPV CEO Patrick Evans is also a director of Archon Minerals $ACS, which is run by Stu Blusson. Blusson is the Ekati co-discoverer (with Chuck Fipke) and owns the portion of Ekati -- about 11% -- that $DDC doesn't. Fipke sold his share of Ekati to Dominion for $67 million a few years back. Archon also owns about a third of Ekati's Buffer zone
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@ekim @JamesKwantes I remember that now. He wasn't a director until a couple of years back. Blusson and $DDC 's current board/mgmt do not see eye to eye or shall I say dollar to dollar. Money talks. $ACS by definition is a Zombie company...except for the fact that it owns part of an asset that $DDC will be developing and has a director that loans money to it to keep it going until it gets a big payday.
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@JamesKwantes Dominion Diamond, Stornoway have held merger talks, sources tell Reuters http://www.reuters.com/article/us-dominion-diamond-m-a-stornoway-diamon-idUSKBN16R2QJ $SWY $DDC
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@ekim "....One of the people said the talks were still ongoing." $SWY $DDC Time for consolidation in the industry is passed. Get on with it people! Get on with it! #diamonds
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@ekim Mining stock rallies with no news and gets halted by IIROC....Rumours flying all over the map with $DDC and $SWY and don't get halted. No point in halting something that should be halted..that would just be a waste of power. Must halt things that kill's peoples hopes and dreams.
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@nicholaslepan Anybody have any thoughts on the offer for $DDC, management at the company is citing that offer is coming from an inexperienced investor in the diamond space and that the deal undervalues the company. Just when I thought diamonds were a dead end.
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@ekim @nicholaslepan I'm still on the fence whether there is actually an offer for $DDC or a proposal to do an offer. Muddy.
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@JamesKwantes The market says it's an offer $DDC
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@JamesKwantes Correspondence between $DDC, Washington Group in latest salvo references one other "alternative transaction" - sounds like the $SWY merger idea
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@ekim $DDC 's latest news release includes all the comebacks and reasoning from Washington Group of companies...but not much substance from DDC. It is very strange...almost like they expect people to read the first one or two paragraphs and not deep dive into the full news release. The comebacks from Washington Group are very, very well done.
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@ekim List of synergies for a $DDC and $SWY merger? - Reduction in overhead...Stornoway has an insane executive team...like 11 VP's or such. That could cleaned up easily....maybe all the VP's want a merger to trigger a severance pay out. Renard production could piggy back onto DDC's rough diamond sale distribution. DDC's cash could pay off some of Renard's debt. The deal would definitely be one sided IMO. Just a question of whether DDC wants to navigate that swampy lake before it can firm up on a pure Renard operation...maybe buy the stream. ...and to top it all off...one big investor in $SWY is offiically in harvest mode -- "Our fund has a seven-year life. At the end of 2016 we were done with investments. We are now in harvest mode," [Orion portfolio manager Douglas] Silver said when asked why Orion was selling the portfolio. He said the sales process was launched at the beginning of January." $SWY has plenty of reasons to push a merger...many more then $DDC
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@HRA-Coffin The way $DDC is trading there will be a deal with someone. Shareholders are pricing it in. Management can act all offended but I think the large institutional shareholders will string them up if they don't to a deal now. And I agree with @ekim that $SWY doesn't look like that much of a prize to shareholders compared to a clean cash exit.
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@Allan I love the smell of a hostile takeover in the morning. Had a good read of the back and forth with $DDC and Washington Group. It looks like the $DDC folks brought a knife to a gun fight.
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@ekim Found this quote on $DDC -- ". Washington currently owns no shares in Dominion, Simkins said."
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@JamesKwantes If Washington doesn't own any shares, why does he want to buy the company?
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@ekim @JamesKwantes sounds like it is 100% or nothing. Maybe by having no shares...he has more legal flexibility to say publically what they have been saying. If you think there is a white knight (Rio or such)..you would think you would want to try and get an up to 5% position anyway...Maybe he doesn't think a white knight is possible.
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@ekim Question is whether Discussions between $DDC and $SWY were serious enough that they put Matt Manson at top brass and that is why Brendan Bell was shown the door at the end of January. Chicken egg theory.
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@businesswire Dominion Diamond’s Fiscal 2017 Fourth Quarter and Year-End Results to be released Wednesday, April 12, 2017 @businesswire/dominion-diamonds-fiscal-2017-fourth-quarter-and-year-end-be-released-wednesday-april-12-2017 $DDC.US $DDC
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@JamesKwantes Re De Beers jewelry arm, there is sure a lot of activity in the #diamonds sector of late as well as interest from majors. Also a major focus of the latest Resource Opportunities which went out early this morning. Diamonds one of the "empty rooms" at an otherwise bullish PDAC. Opportunity IMO $DDC $RIO
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@Allan Washington Group is offering to buy $DDC for cash at a pretty similar valuation as uranium explorer $NXE is trading for.
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@Excelsior #RickRule Pre #PDAC 2017 #Mining Stocks on #BNN Market Call MARCH 3, 2017 Rick Rule covers a great deal of ground in this BNN #Video interview (from a few weeks back) on some of the more popular mining companies: $IVN Ivanhoe, $ANF Anfield Gold, $KL Kirkland Lake, $CGP Cornerstone Capital & $SOLG.L SolGold, $PVG Pretium Resources, $NAK $NDM Northern Dynasty, the XAU Index, $DDC Dominion Diamond, Reservoir minerals/ $NSU Nevsun, $HL Hecla Mining, $PAAS Pan American Silver, the #Silver market fundamentals, $CDB Cordoba, $SLW Silver Wheaton, $BGM Barkerville Goldmine, $VIT Victoria Gold, $DPM Dundee Precious Metals, $LUC Lucara Diamond, investing in #Gold bullion, Off balancesheet liabilities and #debt of the US Government, $TV Trevali Mining, $NXE Nexgen Energy, $ALS Altius Minerals, $BTG B2Gold http://www.pennyminingstocks.com/rick-rule-pre-pdac-2017-mining-stocks-bnn-market-call/
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@businesswire Dominion Diamond Announces Exploration of Strategic Alternatives @businesswire/dominion-diamond-announces-exploration-of-strategic $DDC $DDC.US
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@MiningBookGuy Dominion Diamond to explore strategic options, including sale http://www.reuters.com/article/us-dominion-diamond-m-a-strategic-option-idUSKBN16Y138 $DDC #diamonds
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@JamesKwantes Would sure be nice to see $DDC remain in Canadian hands, given the historic assets and the way in which Canada helped bust up the De Beers cartel with the 1990s discoveries that laid the foundation for an industry #diamonds
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@Allan james, I like your patriotism and nostalgia for Canadian diamonds, but I have a feeling the $DDC shareholders won't care much about where the money comes from.
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@JamesKwantes Agreed @Allan but the Canadian angle is a very important one in #diamonds and what has often been a dirty (bloody) business. Canada has cachet #branding $DDC
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@JamesKwantes On Washingtons, fair point @tommy - Kyle anyway, don't know about the old man. But was also thinking of other players with that comment, eg Rio Tinto. With 60% operating ownership of Diavik, they must also be in the mix here (even if they don't show up in the articles) $DDC
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@JamesKwantes Hearing that North Arrow Minerals CEO Ken Armstrong will be on BNN tomorrow at 8:30 am PST with the inimitable Andrew Bell. Some renewed interest in the space as the $DDC takeover talk continues #diamonds $NAR
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@TheGalvanizer Canaccord Morning Coffee – Tues. Mar 28, 2017 – #Marijuana $ACB $APH $BIR $BLO $DDC $EMC $IAN $IN $MX $NII $OGI $SL $SU $WEED http://ow.ly/iByy30ajErf
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