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Thanks Dave - No I intend to sell the lot. Having said that as soon as I have sold them all they will probably get a takeover offer.
I hope it works out for you and wish you the best. I should have sold the lot 6 months ago but I don't want to be in a position in 6 months time saying the same thing... I still think the mine is world class but unfortunately the same can't be said for the leadership.
Good luck 100, are you totally selling out or selling some of your holding?
I don't have to sell but wish to as I have no faith in the bod. They should soak up my shares if they believe in the company...
It looks like another buying opportunity. Don’t sell low if don’t have to.
I am sorry for the drop Redwine but perhaps the directors will soak up the remaining shares I have to sell. I have only sold 150,000 shares since Friday and they drop the price by 10%...
You have probably dropped the market cap by 5m!! Maybe that should say something to management if they are monitoring this board. Which I doubt....
Thanks for the transparency 100. Cant say I blame you.
I decided to commence selling on Friday. There seems little in it for shareholders. As far as I see it there are three benefactors and they are the bod, the Government of Lesotho and Graff. Graff have been getting a decent supply of diamonds, the Bod an excessive remuneration and the government of Lesotho a lot of money via taxes and royalties. What have shareholders got! One dividend in the last few years whilst they sit on a pile of cash. Even the Lesotho community have had more spent on them than we have had in dividends and it's our money... Considering the amazing stones the company unearths it would seem there is a black hole. The company state on their website they want to create shareholder value its more like shareholder destruction...
Some will be forced selling taking out stops but considering that the company have all that cash and are going to generate a lot more going forward it's unfathomable. Diamond market going crazy, Ghaghoo may falling through but is there anything else we aren't aware of?
Looks like someone wants out at any price. Could be a rough old day. Thought Petra was bad but at least there you can understand why. Here it's completely untransparent management.
What I don't get here is why the II's are not agitating for change. The average holding price father large 3 is in the 80's. They sure must be seriously peed off. Maybe even more than me...
BoD here are simply not up to the job.
Maybe the Ghaghoo sale is not going through
It looks like the disgruntled significant shareholder is reducing.
Though it seems that diamonds miners are negatively correlated with the diamond market at the moment... Petra has also been taking a nosedive over the past few weeks.
More good news for diamnds (from Botswana Diamonds RNS)
"Prices have rebounded in recent times after a severe fall in the past two years. Demand is strong for gem quality diamonds in the emerging markets and in the US.
Meanwhile supply is at best static with closures in Australia and production problems in Siberia among other problems. The long-term future looks strong as more people enter the middle class and want the things that most European and American consumers buy.
Who would have thought that a pandemic would be positive for the diamond traders? As we re-emerge from the shadow of the pandemic we believe that the middle market of the industry (traders and cutters) is in the best shape for many years. Stocks are low, liquidity is good, prices are going up and demand for both rough and polished is very strong. The post-Covid years should see very strong diamond acquisition and gifting. We expect good times ahead for the industry."
I am indeed,somewhat safer than pdl one would think.
Markets tricky since May esp small/mid caps.
Hope you are keeping well,think everyone pretty exacerbated with Covid at this stage.
Best of luck.
You in this one Icarus long time no see !