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Reminds me why I sold out 6months back such a self centred man. Investors are off no interest.
Q1 trading update next Weds, fingers crossed for further signs of prices strengthening and operating costs on the decline
https://rapaport.com/news/hong-kong-reopening-boosts-luk-fook/
Petra trading update today confirmed that diamond prices have improved over the last few months, with a post covid recovery in China where trade is strong, good news for GEMD going forward...gla
No worries have also added a few more of late. A good 1st quarter would be very welcome now.
Seems to have formed a bottom.
Thanks for the research DTH.
Gla.
Wonder if the likes of Burgundy will come sniffing at GEMDs door at the current market cap? They are still looking for further acquisitions and GEMD would be a good fit..
Wonder if the likes of Burgandy will come sniffing at GEMDs door at the current market cap? They are still looking for further acquisitions and GEMD would be a good fit..
https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=GEMD.L
Must be a fair chance of M&A activity/discussions going on with so much talk of consolidation in the mining sectors, question likely to be with who...any thoughts?
Diamond Index under price pressure in March but the miners are showing early signs of a revival from what are now Covid lows...interesting ...
SP is very low as are other diamond miners, the tide will turn though, the diamond price index is probably near or at a low point now with Chinese buyers active again, mines closing no new ones opening etc etc. Just need to look forward, hopefully this SP will look a bargain later in the year.
SP is very low as are other diamond miners, the tide will turn though, the diamond price index is probably near or at ir low point now with Chinese buyers sctive again, mines closing no new ones opening etc etc. Just need to look forward, hopefully this SP will look a bargain later in the year.
Net asset value per share = £1.30 share price £0.26 and still no ma activity in pipeline. alarm bells should be ringing for investors. ???.
I see Burgundy have decided not to re open Ellendale now...they have just acquired Ekati in Canada but I suspect they are looking to pick up others with the right profile...GEMD would be top of my shopping list if I were them...at the current market cap...
Another interesting angle for the diamond market...
https://cryptonews.com/news/tokenized-diamond-market-booms-amid-crypto-banking-crisis-as-investors-seek-hard-assets-heres-what-you-need-know.htm
Wonder if Burgundy are eying up GEMD - would be a good fit for their niche market?
This is particularly interesting with M&A talk around diamond miners, inc GEMD...
https://www.afr.com/street-talk/mining-guru-o-keeffe-chases-231m-equity-for-canadian-diamonds-play-20230314-p5crwn
Am sure there are slide rules being drawn involving diamond miners in Southern Africa too.
As I have already mentioned they need to unearth more of the 100 carat plus stones in 2023, they usually average 8 a year, and with diamond prices forecast to be strengthening in 2023 the SP will respond. M&A always there too, Letseng still has plenty of mine life in it, to 2040 ish I believe.
Thanks, will have a listen later
Interesting take-aways from Q&A session.
Acknowledgement that GEMD could be a M&A target at current low share price.
Commitment to recommencing dividend when circumstances allow.
Still negotiating sale of Ghaghoo and expect costs to be reduced or eliminated this year.
Looking at other opportunities outside of current operating area.
Buys coming in now during the investor presentation...
It's all about the outlook going forward for diamond recoveries, mining costs and interest rates/inflation. Costs should be falling this year and with a few decent recoveries in 2023 the SP will be cheap at these levels.
It's all about the outlook going forward for diamond recoveries, mining costs and interest rates/inflation. Costs should be falling this year and with a few decent recoveries in 2023 the SP will be cheap at these levels.