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Good article in FT
https://www.ft.com/content/2290571b-08ae-4e77-bcd1-8b7099e50086
Struggling with current price given price per carat increasing, increased market demand, China potential results should show good profit
Just sit and wait
Bought another tranche for 12.5p.
Not much chat here since last May 8 months .
Lost a lot of money in AIM not sure if I am repeating mistakes averaging down , going against trend .
Maybe a rigged market .
Had this order on for six months executed this morning .
Strong
Expect circa $40m - 50m surplus cash on total revenues of $250m
Sedibelo investment write down will impact profits but not cash
Expect 1.2 - 1.5cents divi given share buy back 2cents would be welcomed
Final divi soon? What's the odds?
Already >4% (£7m) bought via buyback, looks like about 80% of shares traded since they started are due to the buyback. Possible the SP would be a lot lower if they weren't. They bought back 31m on Wednesday, 3% on one day alone, obviously facilitating exits of decent sized holdings
Interesting no dividend but full steam on the buyback. 12.8m shares bought back in 3 weeks, 1% of total shares, with 5.2m on one day. Average volume on JSE for the last 10 days only 500k/day so they seem to be vacuuming up as much as possible but struggling to get the volume. Will put a floor under the price I guess
You don't seem the only person today who is annoyed about not getting a dividend.
It does seem a little strange...even with the upfront payments for the second processing plant they still have a huge amount of cash, over 8p/share after the auction receivables were banked. I suppose there wont be much revenue coming in during the second half, they could be up for costs of $80m so want to preserve cash...
You can find a presentation on the website, there is some good info in there
https://www.gemfieldsgroup.com/interim-results-presentation-for-the-six-months-ending-30-june-2023/#
Bad and unacceptable by the CEO.
Technically in a bad downtrent.
Below 50,100, 200 day moving averages.
Next stop 12p?
Net cash.
Over half market cap is cash.
Trading at 4x earnings
Dividend almost 20% yield!!
Looks like GEM management have pretty clean hands in this bribery case:
The charge states the pair allegedly sought a bribe to ensure "legislation would pass in the Madagascan parliament to allow Gemfields to commence a mining operation".
Prosecutors said at a hearing last month that Gemfields had approached Britain's National Crime Agency (NCA), which deployed an undercover officer who met with Andrianarisoa and Tabuteau in London.
Press report from today, just hoping the SP does move forward soon. Very undervalued for the yield. GLA
Ninety one just brought 5% of our stock. But then again why wouldn’t they. With more than 10% dividend yield, enormous cash reserves and Faberge going well this is arguably the most undervalued share listed on the market right now.
Nice updates today.
Share buyback of another 1m shares on open market.
H1 update confirming continued strong gemstone market.
Highly profitable mines.
Faberge continuing to grow.
Net cash over 50% of market cap.
20% dividend return.
Definitely agree that 30p plus is well on the cards.
Some dark forces holding it down.
Can anyone provide an update on Sedibelo re resources
Revenue / production has dropped from last year - results do not provide any outlook commentary
Balance sheet looks strong, potential US listing muted
Difficult to get any real news or update
Mixed ruby auction results due tomorrow.
Hopefully sparks a bit more interest here…
Https://www.mining.com/gemfields-hits-three-records-in-latest-emerald-auction/
Results from next auction (ruby) expected on 21st June. Equivalent auction last year yielded revenues of $96m.
Soooooo undervalued. When will a huge uplift re rating happen I wonder…….
Auction results much better than expected.
Next auction results in 3 weeks’ time.
Profits rising all the time.
Current PE ratio 3.5.
Dividend 20%.
Net cash makes up half of market cap.
Too cheap by far at current levels.
Expecting a strong share price rise from here.
Bought another tranche for 15p
Twice in the three in days, this week.
Great time to buy in!!! Cheap as chips and with a good CEO and BoD with upwards potential, output up and work force being looked after and markets seeing strong growth!!
Big div in yesterday covered the purchase .
Bought another tranche yesterday for 16p
Angry cat?
2.3p/share dividend payable 12/05/23
though, minimal dealing costs incurred as no acquisition SDRT .