This company mines in one of the richest known diamond mining areas in the world, yet over the past 10 years the share price has gone from approx. £9.00 down to sub £0.90p and on top of that even though they made good yearly profits they have rarely paid out any dividend, But the management have financially done very well for themselves.?? I don't think they need a pat on the back at this point, I think they need to be shown the back door.
Holeefook, I hope that you are correct, however, I cannot help reminding myself that GEMD is a one trick pony right now. Added to that winter in the Southern Hemisphere is on its way, Lucara has 15 exceptional stones ready to sell between 3rd and 11th May, Lucapa is regularly finding exceptional stones in Angola and Firestone are busy ramping up with more large stones expected anytime soon. Also, given the rumours of over mining in the key satellite pipe, I have concluded this is too risky… Read More
Although the recent find could be seen as a 'token gesture' as stated previous,it was still found and is worth a fortune.It could also be the start of a 'sweet spot' with more to come.At these levels it's very tempting to average down more as probably my only chance to recover losses.The new Chairman might shake things up a bit also.This seems very undervalued now despite the issues.GLA
I agree with you Sityboy. It seems to me that this announcement has been made to counter nearby Firestone's 110ct recovery, announced the day before. Especially as they have not considered it necessary to make announcements of large stone finds since August 2014.
It could also be that this is a signal that the stone smashing issue has now been resolved. Now I'm looking forward to the directorate grabbing issue being resolved!
Sounds like a token gesture to me, There is still a fundamental problem with the management of this company and the share price performance is the proof of this. It is known to be a company that is being milked. A change in management is only hope for shareholders of this company.
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