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Tom thank you for posting the Questor article, this has made me re-evaluate my position here and have therefore dropped my buy price from 31p to 26p as I can see this plunging another 20%, my follow up buy will be at 21p should it drop that low which i couldn't rule out.
Questor agrees with yiptipdip http://www.telegraph.co.uk/business/2016/06/20/questor-share-tip-gemfields-ruby-auction-beats-estimates/
thank you yiptipdip for providing some balance to eric's constant nonsense.
As per 31st Dec 2015 financials Gemfields borrowings and other debt is of over US $50 million and have recently taken a significant additional debt • G&A + Corp expenses of over $55 mn/year is too high • Most of their accumulated inventory is not easily saleable as it consists of Faberge jewellery and low grade beryl production from the Kagem Emerald mine, which has insignificant value • They have tried to liquidate all possible inventory to reduce their debt and fund their operations but unable as they don't have any old inventory which is saleable (except current inventory) • Clearly their cash flows are tight • Gemfields Profits have been negligible over the years, hence very little free cash to fund its operations, and thus having to borrow heavily • There have been no major investments or acquisitions where they have required significant cash. The reality is that most of their operations are not very profitable (Faberge losses being a significant drain) and extremely high G&A Costs!! In his earlier posts Eric states that GEM is a “Low Debt company” I see this stock in the low 20s or even teens as soon as their YE June 2016 financials are released and investors will finally understand and realise the actual state of the company's finances
The trader mick on twitter plugging GEM is a imposter and should be ignored/blocked
Two new high end jewellers added to Faberge outlets. Now 28. A rapid increase. Take a look at Manfredi Jewels website. Nice.
i am interested in eric's opinion, if he chooses to offer one. (i don't tend to regard anything said by anyone on these boards as 'advice'.) it's up to you of course whose thoughts you are interested in.
Spikeyj, I cannot believe you are asking for advise from ericeric, lets ask ourselves the question, who has pumped this stock all the way down to current low levels without an apology to GEM BB followers? You want advice from an individual that pretends to be a professional and does not have anyone's interest other than his motives for his attitude here, many of us NOVICES gave people advice here stating the SP would fall to current levels when it was much higher and yet you ask advice from the one and only ericeric who was tipping up this stock at 60p+ .......as Victor Meldrew quoted.........I don't believe it!!!
still tempted, but concerned there seems no bottom. looks cheap in terms of assets, but it keeps on sliding......... ? what do you think still needs to be shown by this company to create some base for investor confidence?
Its called averaging Nine2five, a small buy at 31p and If I have called this right I will buy more in the high 20's (not sure where it will settle yet.) If i have called this wrong and I don't get to high 20's as I hope then i still will be quite happy with my 31p purchase.
I'm a little puzzled; you plan to buy at below 31p with a view to the share price losing 30% in the near future??? I'm no expert, but if you're expecting 20s / late teens why not invest then?
14.03, 14.04 and 14.06 over £180k's worth not looking good here again. People are dumping this stock faster than expected, Is there something we are not all aware of?, I wonder.
I doubt very much the £106k trade was infact a buy hence the reason why the SP was down at one time 7% on the day and was eventually at a 4.5% drop at close of play. I suspect the SELL order was placed much earlier in the day yesterday and only reported late on. The SP Down again today so the sellers are still very active.
Very big buy after close
and more sells coming in fast.............I might even get my 31p today, if not there's no rush we all know were this SP is heading.
as predicted but to be honest it was the easiest prediction ever......... I will have a small buy at 31p (very confident I will get that) and then my next buy will be low 20's...........teens??? hmmmm now that would be enticing lol Ericeric and his expertise (JOKE) have cost many buyers of this BB many thousands of pounds recommending this stock at ludicrous prices , still no apologies from him, unless i have missed it somewhere?
....is your friend..... Crikey, look at those charts....like one of those cartoons with the waste basket underneath the board... :-)) Wonder when the brokers are ALL going to downgrade this...All except the ones with a vested interest obviously...!!! May dip my toe in if this hits low 20's.....unless of course it's heading to the teens.....surely not...? Strong buy it's not......
Or will it continue the downward spiral? Currently the SP is at a 29 month low, eventuality the slide must end but I'm afraid to say there is further to fall yet, anyone thinking of investing, hold fire its way too early here yet.
Thanks for your reply . Bought BARC at 147p, So had to sell GEM at 37p for funds at a small loss
Mullard, I wish you well with your Investment.
Thanks for your opinion . We would all like to buy at the bottom, So we have to guess a good buy in price. My self I bought 9611 on17th June at 9-26am at 37.23p. OMI
Mullard, you buy at 38p whilst i sit and consider a buy at 31p a 20% difference, your call. Like i said, further to fall here, low 30's for sure and possible high 20's, take no notice of ericeric he has been tipping this stock for years and at 60p+ and look at were it is now. Some realism needed to hit this board, ps i am not paid to tip any stock this is all IMHO.
I look forward to update on the iconic Coscuez emerald mine in Colombia.
Safe buy at 38p