DELRAND

Delrand Resources is a Canadian-based diamond exploration company with a primary listing Toronto Stock Exchange and a secondary listing on the Johannesburg Stock Exchange (JSE) since 2008. Delrand has a history of principally focusing on acquisition and exploration of diamond-producing properties in the Democratic Republic of Congo (DRC), where it also has an iron ore exploration project.

The diamond projects are based in the Kimberlite Emplacement Corridor of the Kasai-Occidental Province, with the iron ore project based in Province Orientale.

By the end of the 2016 financial year, the company had assets valued at CAN$105 000, but no revenue-generating properties after writing off the carrying value of its exploration and evaluation assets and placing properties up for sale. This has detrimentally impacted Delrand share price.

Delrand’s performance has suffered due to struggles with securing funding, and the company has never really lifted off the ground. For the year ended March 2016, the company incurred a net loss of $328 000, which followed on from a loss of $4.2million in 2015. Overall, the company has a working capital deficit of $574 000 and a total deficit of more than $128 million. The company has further suffered from an unstable political climate in the DRC, as well as tumbling commodity prices which have hampered ability to secure capital.

There are serious doubts over whether Delrand will be able to continue operating. Management has said that this is dependent on several factors, including ability to secure additional funding. All available options are currently being explored, including equity financing and strategic partnerships, but the forecast for the company looks bleak.

Delrand’s risk profile is off the chart. Mining exploration is today a highly risky niche market, particularly in the face of declining commodity prices. Even large diamond stocks have been suffering, so Delrand faces an extremely difficult task to secure additional funding in this depressed market, particularly when it is operating in an unstable country such as the DRC. Delrand has no operating revenues, a negative net asset value and a huge accumulated deficit.

Those brave enough to purchase Delrand shares are therefore likely to experience nothing but losses. The live online JSE stocks chart shows that Delrand share price is currently at 69 cents, and without any financing prospects on the horizon, there is no guarantee that Delrand shares will remain listed, let alone have any upside growth for investors who buy them.

Materials

Metals & Mining

Other Mined Minerals

We have made it simple to buy JSE listed firm shares online. The easiest way to buy Delrand Group shares or stocks is to; start by submitting the ‘BUY THIS SHARE’ form. Next, one of our experienced and certified stock brokers will personally get in contact with you to discuss your custom stock request. Finally, a stock advisor will confirm the amount of shares you are looking to invest in Delrand Group and assist you with the setup and management of your stock portfolio account.

1. Start by Filling in the BUY THIS SHARE form.
2. Insert your name, email, telephone number and monthly remuneration.
3. Then, Indicate the amount you are looking to invest in Delrand Group.
4. Click the “ INVEST NOW” button
5. Once we have received your info, a dedicated stock advisor will personally call you back to discuss your personal share request.
6. Lastly, your newly appointed personal stock advisor will handle all account setups and reporting as stipulated by the financial services board of South Africa (FSB)

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