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Looks yesterday was another little shake by mms to stimulate trades lol
And general diamond prices still very strong :-)
It won't be if they pull out some decent stones. Not too long to wait until another big one turns up if history is anything to go by.
In 6 months the price will be roughly what it is now.
Bit of a rebound this PM
Well I've had few more today, hopefully better timed than my last top up at 65p, doh!
In the last week there has been 0.2% of the companys share traded for around 250k and the market cap has dropped by 11m.
If the isn't a reason tO buy back then I dont know what is.
Thats exactly what they should be doing, buying back. If they believe in the value of the business why wouldn't they do this. They have the cash. Or at least they had the cash....
Most probably a hedge fund selling again. Probably time for Clifford to look in the sofa and pull out a large one to burn them like he did last time...
Someone keen on selling out in 10k blocks.
A near 10% drop on less than 100,000 shares traded. This is becoming a joke. Why don't they use some of that money and buyback some shares...
I am also a holder of RR. too and have been patient there but the RR. Bod have been very proactive unlike Gem. I think the problem here is that the company is perceived as a lifestyle company and benefits a few large shareholders. The order book seems as though it is controlled by jpm, not an outfit I have any trust in. What is their latest price target on RR., 45p? Just goes to show you what a bunch of cowboys they are...
If I remember well the volume in PDL has always been bigger than here. But surely not everyone is just buying there! ( or the price would be over 2p at least by now). As for GEMD whilst it’s really frustrating- it’s nothing unusual- just the MM’s work. - That’s what I believe at least. Surely some patience is required here. Look at RR. chart… it’s different I know but still can give us some idea how the price moves. I’m not gonna sell nothing under 70 … Maybe a few under 80p if at all…
Diamond prices generally seem strong again too after a mini lull, going to the run up to Xmas the diamond price momentum should increase again imo.
A big stone find this week would be nice as the SP is sat a double bottom on the chart from the low in July. 60p ish. News released now would be very positive on the SP.
Valid points and don't forget that Graff gets a lot of diamonds from Gem too. I am surprised they haven't put an offer in as it would be small change for them. Certain things do need to change as it does come across that the company is being milked and those that benefit like the status quo.
Last post on this as I’m aware I am behaving like a stuck record.
I think the market sees GEMD basically as a listed private company. A number of large holders who get value out of GEMD by other routes. Lesotho go gets social provision and taxes. Graff gets inside market knowledge and Elphick gets a nice package. So what’s the reason to buy? Company is run for others benefits and no change of a take out or management change to invigorate it.
The daily trade volume is virtually non-existent but that could be down to the spread and that lies at the feet of the MM's. I do agree that large finds tend to move this and that the bod need to be proactive, buying some shares would be a start and then perhaps others will follow.
I also find it interesting that average daily volume is PDL is at least 10 times here in GBP value. Despite their problems, a massive share overhang and the operational risks investors see more reason to buy there that here with GEMDs level of cash in the bank and dividends.
100 I agree with you and what you say is logical but the fact is all is known to the market and no one is interested. The SP is going down because there are no buyers. It seems to me only a massive stone with loads of media coverage or some type of corporate action is going to move this. Both of those things rely on factors outside of the companies control meanwhile they do nothing to stimulate the demand.
SP under downward pressure again, looks like a re rate lower at this rate!
Increase in rough diamond prices, Ghaghoo sale (no C&M), inflation, cash positive and now in a position to pay dividends to name a few. I really think the current mkt. cap is far too low.
Why do you think it will re-rate? It's a genuine question.
Evidence so far is there is even less interest in this share than before Covid and despite their improved financial position that is no mean feat. Sadly I think the BOD here simply are unconcerned about the SP. It really is a most frustrating share to own.
1 trade of 691 shares today lol. MMs killing trading with the spread.
I will Dave as this has to rerate at some point. The price just seems far too low.