Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Huge upside here looks like tomorrow we will see a big rise
Hi I've bought in to the stock in the belief there is now a lot more upside than downside from this level 👍
Here’s to hoping, I personally have continued to add throughout this down trend, as I am convinced we are seriously undervalued.
Gla
This will rebound very hard soon I have good faith following a chat with a friend of mine
The current market cap for GEMD is now less than £16m - for all of the shares. Maybe we should have a 'whip-round' and buy the company - then we can give the current BoD and our illustrious looser their marching orders.
What a bargain this is! If anyone had the slightest interest in developing a diamond mine, they can currently pick up GEMD for less than the engineering consultations and appraisal drilling costs. It's all there for the taking.
I do hope one, or both of the following things happen; that the proposed ban on Russian diamonds is implemented and has a positive impact on the rough diamond price (it should), and/or that someone starts to build a stake in GEMD - but given the current volumes being traded this does appear unlikely.
It's an indicator of the diamond index and which way its going...and its not good I'm afraid...
Not sure whether what applies to the rough diamond applies to the general diamond market ..
https://www.lse.co.uk/rns/AAL/de-beers-rough-diamond-sales-cycle-9-2023-7ijjm94uf7aczff.html
I agree with what you said redwineday I dipped my toe today(15000 shares), and at this low share price I will expect to see board members buying shares if this does not happen and there is no bounce in the share price I will sell with a loss once again.
This company should not be publicly listed. Levels of transparency are shocking. Look at today's RNS. No outlook, no forecasts, zippo.
BOD are complicit. The company SP has gone form 80pm to 10p in 30 months. and from 120 to 10p in less than 5 years and yet the same management team are in charge. You trying that with your employer or own business and see how far you get.
Punters only here betting on red or black. BOD and non controlling interests are the house winners.
Thankyou Dave
Keep watching that diamond index for signs of a bounce, may not be too far away now...
Wow, how fortunes can change it was only 18 months ago I was getting dividends and the company was buying shares back at 50,60, and 70p. I purchased it quite heavily at 20p, but it showed no sign of bouncing so sold at a 10% loss, and have been watching on the sidelines since I certainly find the current price compelling,but am nervous about the entire stock market at the moment as they are frought with dangers on many fronts
Main reason for the current SP was someone dumped 400k shares on the market in one hit, still not been absorbed I don't think
Any explanation for the current sp, i understand they have an undrawn credit facility of over 60m some of which i expect to be utilised. Low diamond prices and high cost means Gem is currently unprofitable, unsure of when the diamond market will recover so Gem should focus on lowering costs.
Sales pretty much as expected in current market. Carats recovered was actually up 4000 on Q2 so decent mining performance there. Carats sold was down 10% but there were some cancelled tenders. They will carry over these unsold diamonds into Q3, spprox 3000 carats, and may achieve a better $ per carat for them if the market starts to pick up again. Could be value here if market is starting to turn more positive into 2024.
Make 2 x 100 carat stones recovered yesterday...
http://www.idexonline.com/FullArticle?Id=48990
Looking at the diamond price index for the past month it looks like it may be showing signs of bottoming...
http://www.idexonline.com/diamond_prices_index
If so keep an eye on GEMD at these lowly levels...
GEMD recovered a biggie yesterday...from their website...
A high value, large 117.47ct White Type IIa rough diamond, recovered at Letšeng on 29 October 2023.
Someone is nibbling at 11p ish. If they did hit a sweet spot GEMD could easily put on 50 to 100% from these lowely prices but the weak diamond index dragging on confidence...
Watching and waiting for signs the diamond market is starting to turn the corner
Waiting for entry?
I did but not at these prices, however at a loss yes
Dave has now changed tact and has obviously sold at a loss...
Anyone there don't believe in dark arts? Visit some headquarters...
About time the directors said something to the market, to try to shore it up at least