We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Would love to see that first RNS confirming the first buy back by GEMD in the market
Would live to see that first RNS confirming the first buy back by GEMD in the market
I wonder who will start buying back first. The hedge fund shorting this or GEM. Let's hope it's GEM and they start big as I can't see the price remaining below 30 for long.
As shareholders we should put pressure on them Dave to do so.
The shareholders have suffered enough. It's time we had a reward. Let's face it the directors seem to do well and the Lesotho government. It's about time the shareholders benefited too. We are the risk takers not them. If they don't commence in the next week we should (as shareholders) put pressure on them to do so. The hedge funds will then foxtrot and good riddance.
Would be nice if they started tomorrow :-)
The company got approval to purchase its own shares with a majority of 97%. I think they better get buying at these artificially low prices. They can start by using the proceeds from the 122ct.
If the directors believe in the company they should put their hands in their pockets and buy some shares rather than increasing their holding via performance shares. I think we should see a positive performance in the share price before they reward themselves this way.
I doubt the share price will get much cheaper so now is as good a time to commence. The cancelation by Petra is only for a few months and their share price has hardly dropped so the market doesn't seem that bothered. I would say that todays drop is more manipulation by a hedge fund.
What makes you confident re a buy back re commencing 100? Petra announcing they have cancelled a tender is the reason for today's drop, too much inventory out there leading to low prices.
Well the 122ct type II should add a little to the coffers. No doubt they will find some more biggies soon, they usually come around like London busses. Three big finds in a row would sort this share price out.
100notout, 1.5 million shares bought back last year. As you say, 13.9m is substantially more. The only hiccup is that would use up all of the cash the company held at the last y/e but hopefully there have been a few sales in he last 6 months to swell the coffers.
Well the clock is ticking, not too long to wait now for the news on the buyback. I hope they start straight away and knock the shorts for 6.
13.9M shares is a lot more than the last buyback. Wasn't that circa 1.5m?
That is encouraging Dave.
I can only assume that the current weakness is because the company is being shorted. Well it will be interesting to see what they do when GEM decides to buyback, as 10% is a decent amount. I would have thought the shorters will buy back before GEM go on their purchase spree.
This is a good market sign ;-)
https://rapaport.com/news/firestone-clinches-highest-ever-average-price/
I suppose that rests with China's demand at the end of the day. It would be welcome to see GEM pull out a really large one, having said that it would be preferential for them to buyback the shares first as a reduction of 10% would increase the eps a bit.
Let's hope so! All the diamond miners SPs are very weak and at Covid or lower lows, needs a turnaround in the Diamond Price Index to halt it, or at least to stabilise and show signs of recovery.
I think the purchase programme will be voted for especially given the low share price. The company will be able to buy up to 13.9m shares. I think this will be the best use of cash and should be a catalyst for an increase in the share price especially given the current daily volume.
This drop on few 1000 pounds trade :). I am collecting diamond mines PDL, LUC. What is next play with GEMD - underground or 1000ct? :)
Hey - thanks - I may well regret waiting instead of hitting it at 22s but them's the breaks :)
Just to clarify- I meant it costs not to!!(your calls on HUM were excellent).
However I’m hoping a bottom is forming/formed here..
Gla.
Always respect your opinion (it pays not to, I have learnt !)
I however continue to add, as close enough to any potential bottom for me.
250k, and counting..
Gla.
18s is a Technical Analysis target - may never be seen of course.
18p would equate to a mkt cap of circa £25m. They could find a single diamond more valuable than that. The Lesotho legend sold for $40m.
Curious why 18p, a random guess or something calculated??
18p for me also, buy set..
Why 18p??