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Shabby board, surprised the price is 8p and not 0.008p like my return on investment to keep the registered office in one of the most prestigious locations in the uk and the board in their lucrative remuneration policies. I keep my remaining shares because Ím waiting for a loss to set them against.
My advice to all interested in investing with this company is - look at past performance to see how much of your money you could be giving straight to the directors . Stick it under the mattress at least, hopefully, it wońt slowly disappear.
Clearly the market is simply not interested in good news from small companies, only bad news causes a reaction.
The purchase of MMIC will lead to operational efficiencies and cost reductions going forward. The four diamonds discovered this year and more to come will soon pay off the debt.
FY23 end period 16.5m cash, net debt 21.3 , undrawn facilities of 45.9, purchase price of MMIC 22.7 of which 13 paid pre period end and 9.3 post period, so is the post
FY23 9.3 m payment included in the FY23 end period cash and net debt or is cash now 7.2m with net debt of 30.6?
Do you think the market makers haven't seen the RNS?
If they find a few more it could get rather messy for the shorter. Let's hope so as the mkt cap is a joke.
This important discovery was even mentioned on Bloomberg this morning as a potential market price lifting event. Get in quick boys and girls.
That's very welcome. Surely thats probably worth about a third of the mkt cap. It's the fourth one over 100ct this year so let's hope they can pull a few bigger ones out.
The obvious answer is they don't.
They're not far off cash in hand are they plus a lorra diamonds in stock?
Perhaps the performance shares were awarded for the most successful company in destroying shareholder wealth.
If they had anything about them they wouldn't reward themselves with shares after such a poor performance.
The directors, the Lesotho government and community have all benefited over the years to the detriment of the shareholders. I wonder how they plan to benefit all stakeholders!!!
Performance shares awarded - what a joke.
At 11m mkt cap and falling - looks like its being priced for total failure
It's quite plausible that Gem could unearth a diamond with greater value than the current mkt cap. It can't be too far off until they get a biggie.
So not going underground now, and mine life in current form 15 years. Wait for diamonds to recover price then bingo...
Dont forget they are sat holding 18m of diamonds to sell...
Be priced in now?
This could be one hell of a recovery play for 2024..
Gla.
No fund raise requirement here, they have plenty of quality diamonds to sell when prices rise
I should have said, could be the govt take it out. National asset blah blah....
The financing issues still exist if its take private, so not sure what that solves.Ask yourself who would want to take this on in the current diamond market with the potential of massive investment required at current level of interest rates.
IMO this will bounce around at this level until there is a clear pick up in diamond prices. Might be time to get back in then if you believe a take out or take over is possible.
PDL down again too. got a little in that but nothing in GEMD.
Going private imo...for a song...
9p bid. this looks toast. where is sp going? no support under here.
Bid into the 9s now after a fair bit of selling pressure....looking grim...
You forgot capex. They have been pushing it back and at some point that wont work anymore. Secondly at some point they will need to go underground. See the continued mention of slope steepening. They mentioned a feasibility study being done a while back on going underground and since then it's gone quiet. Capex will explode at that point and hit can they fund it? Answers on a postcard to ....
37m utilised,13.4m used for purchase, 23.5m outstanding, 16m of that in cash, 6m burnt, net debt end period 21.3m. In January paid 9.2m from cash of 16m so current net debt now 30.5m, cash of 6.8m, undrawn facilities of 45m?
Anyone know total cost of the buyout?
Of the 30.5m, net debt 22.6m from purchase so 8m from operating losses? Losing about 8m pa? If so no need for capital raise soon maybe just borrow and wait out the diamond market downturn.