Pulling several recent threads together, what I've done is...

Pulling several recent threads together, what I've done is 'trade in' half my KIM holdings on some BDI shares.

The 'trigger' was BDI's discovery of what it called its 'highest grade and diamond and size ever recorded' - announced to the ASX on 3 August.

BDI is 40% owned by KIM - soon to be part of the Gem empire.

BUT (the important bit) KIM is 60% owned by non-GEM interests and that now includes me. Up yours GEM!

GEM was bumping me out of the diamond ring, but I've bounced right back in (by buying some BDIs) and retain some 'skin' in the WA diamond caper.

That done, I'm well positoned to benefit if (and it's a big if) the 'mother lode' (for the BDI announcement) is discovered on BDI's side of the KIM/BDI side of the mining lease fence.

My best course of action was to hedge my bets by:

(A) Holding on to half my KIMs and accept 70 cents some weeks hence and maybe (and it's a big maybe) get heaps more (but on only half my previous KIM holdings) if a second predator is on the prowl.

(B) Sell the other half of my KIMs (cop a small 'on market' loss) and deal myself back into the WA diamond caper with some BDI shares.

BTW: I wouldn't recommend the WA diamond caper (as an investment option) to anybody living on the old age pension and eating tinned cat food when the baked beans run out before pension day.

There is a wee bit of risk attached to the WA diamond cpaer - as GEM's raid on KIM (at artifically low prices) bears eloquent testimony!