The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
CD wheres this block at 6.97p? SP bang on it now.
oil down today. copper down today. not a good day on the markets. my watch list is mostly showing red.
Should end below 6.9p today.
This is worse than an aim share absolutely relentless
Doubt Duffy would buy since he has performance shares granted. Why pay if he can get for free. He set the bar low on project 2022 and renego bank covenants.
The next chairman would. Good to have got rid of Adonis and John Dip. Spend spree on Capex.
If Duffy still has confidence in PDL, he should be averaging down at these prices, he should at least take another million shares
Like c Duffy buying stock only holds 240000 bought in June 21p
markets are weak today. still hopeful of a better afternoon though.
Hard to see pdl go bust in a year, it will run reasonable ok with caveat no major incidents. Sales 450 to 500 Mln per year.
Being on both sides trading for living, shorters do not win all the time. Won on clln and Irv, but somewhat even with LMI. At this low point, when this dog turns, the speed to get out can be ferocious.
Been topping up today near 7 to 7.2p. expect to top up in 6.5 to 7p.
Right now, shorters party time today, may be a day or two more , usually after results. Too many panicky O sellers, but good opp to buy selectively.
Duffy did not give a convincing update, fail to address debts reduction. He is relaxed because of the renego convenants which are easy 2020. The problem is debts, pdl has the advantage of Rand, 4 big carats, but debts somewhat unchanged, even with reduced capex. Bad news,Cost of production remains high on inflation 7% and diamond price sag 5% from previous update which form the baseline if the 150 to 200 Mln fcf. Yes, Duffy has production output leverage, 10 to 25% higher. Overall there is good opportunity but he must reduce debts.
Still think the risk reward for this dog is worth the punt for one year horizon. Diamond price expect to remain under pressure, just like platinum. Would not take Duffy words that the diamond price would turn around quickly when it turn (bolluck) with reduce in global production. They same the same on platinum, still no improvement for years. Duffy must start to sell assets, run it well to attract buyers. One year horizon. 21Oct the next update, but before that by end of this month may have some update from DeBeers, doubt and improvements until post Valentine next year.
CN posted thinks shorters maybe have 6.5p target.
days not over yet. gla
Panic selling gifting any shorting imo!
Nobody even buying at 6p ffs just like 10p all the way down
Exactly what I’ve been saying when people said they were nuts shorting this from 8p. This share is a dog
Shorters dont ever seem to lose the game on these kind of things. Not ever.
People said that since 17p, what bounce
at least the bounce should be good when it comes whenever that is..
still mostly AT trades. bang on 7p now. hope for a better afternoon.
CD said theres a 1m block holding 7.1p. Its at that price now. don't have level 2.
Duffy should leave imo, no urgency, no clue, leaving shareholders to rot
Oh well 6p next and then 5p next week. Never in my life seen a share as bad as this
link to article:
https://www.ft.com/content/078a7542-d852-11e9-8f9b-77216ebe1f17
Challenging conditions facing the global diamond industry were underlined on Monday after London-listed Petra Diamonds reported widening losses.Petra said the industry was dealing with its worst market conditions since the financial crisis that began in 2008, as the company reported a full-year loss of $258m.The global diamond market is struggling with lower prices and an oversupply of stones. In addition US-China tensions and pro-democracy protests in Hong Kong have hit demand in the industry's key markets."You need a world that's firing on all cylinders for diamonds to do extremely well," Richard Hatch, an analyst at Berenberg said. "It's a luxury, discretionary spend."Shares in Petra dropped to a record low of 7.17p on Monday, according to Refinitiv data. They ended the day down 6 per cent at 7.58p.Stress is being felt across the industry. Last month De Beers, the world's second-largest diamond producer, said its sales fell 44 per cent from a year earlier. Shares in other listed diamond producers have also sunk this year with Canada-listed Mountain Province Diamonds down 45 per cent and London-listed Gem Diamonds off by 35 per cent.Petra's loss included a non-cash impairment charge of $247m due to what the company said was a "more conservative" assumption for diamond prices. It had reported a $203m post-tax loss a year earlier. Revenues fell 6 per cent to $463.6m.RecommendedDiamonds/Petra: game of stonesPetra, which runs the Cullinan diamond mine in South Africa, said diamond prices fell 4 per cent in its September tender from the fourth quarter ending in June.Richard Duffy, who has been chief executive since February, said it would take between 12 to 18 months for the market to stabilise."It is a tough market," Mr Duffy told the Financial Times. "But when it turns, it tends to turn quite quickly."Petra now expects that diamond prices will be flat for the next two financial years, rather than up by 3 per cent, above a long-term US inflation rate of 2.5 per cent a year, as previously forecast.Petra, which also has mines in Tanzania, said it had discussed with its bankers the possibility it might breach certain covenants on its loans this year and next. It said the banks had "reaffirmed" their support.Mr Duffy said the company would look to reduce its $595m of net debt by improving the efficiency of its mining operations. The company said it had "sufficient liquidity headroom" for at least 12 months.
90% of companies that lose 95 % of their share price go bust.
Will it happen here ?
The chart says no equity left,management complacent with no sense of urgency.
Strictly for gamblers in my opinion.I am not invested here !