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Personally, very concerned with recent results. Net cash keeps on dropping strongly whilst being acknowledged little by management. No convincing actions in their outlook on how to improve the situation either whilst a lot of talk around ESG which is mostly meaningless to share price. Project cash burn out for 2-3 years and the company will be in financial trouble. Mine seems to be a good asset but management needs to acknowledge problems at hand an try changing course…
No surprises in the results, no divi but expected that with cash down, if they can keep the rising costs down and recover more 100 carat plus stones this year the current SP is attractive imo with the diamond market looking stronger in 2023.
Maybe the time for loading up on value stocks like GEMD is just around the corner now...;-)
Wouldn't surprise me if there was some M&A activity in the sector soon, GEMD must be on a few radars at this lowly SP and with new supply non existant or diminishing.
Great timing for holders with results a week on Thursday, could come along like buses now after a bit of a big stone drought..
http://www.idexonline.com/FullArticle?Id=48379
From Twitter this morning...
An exceptional 122 carat D colour Type II white diamond recovered on 5 March at the Letšeng Diamond Mine.
Noticed a bit of buying activity lately with GEMD results around the corner. Anyone still holding, maybe they are of interest again at the 30p level?
A couple of 400ct stones?
This is a dumpster fire. Cash running down,,market stalling, lack of large finds future need for capex to go underground, capex required to keep the lights on, literally, and let me be kind, a lack of transparency in management.
Avoid unless you are betting on there is a big diamond around the corner.
Cash severely in decline....going knowhere fast SP wise it appears, what can turn it around?
Falling off a "cliff", sub 30p again....
He's too busy quaffing good claret in his club....
Total of stock brought on 12/01/23 = £3.45. this should be in the Guinness book of records in my opinion. What is your opinion Mr Elphick ? I think shareholders are not happy with your management of this company.
Seems I was right to sell 3months back .didn’t expect things to improve and they haven’t. It’s no good waiting for the wonder stone Just as well buy a lottery ticket.
20m US...
Same old smoke and mirrors act. Climate, elections blah blah... mucho story telling but numbers don't lie. Net cash drops by 15m in 3 months!!
Between them the Lesotho govt and management have managed to privatise the profits of GEM whilst it remain a listed company. Caveat emptor.
Good news this week and an easy 10% rise
Still here dave, in part. Just waiting for the right time to give it the 2 fingers for good. Will try snd keep you posted I’m sure they’ll find a pink the dize of a grapefruit ehen I’m gone.
Bought back in on Friday
Will accumulate sub 30p
Anyone still in here?
Berenberg downgrade, hold from.buy, 40 target
All these miners are bent, proper gamble...not for me when there's so much quality cheap.
Diamond Index still looking ugly, falling at a faster rate of late...
http://www.idexonline.com/diamond_prices_index
The non controlling interests would be the Kingdom of Lesotho - so you can probably rule out GEMD as a potential take over target.
Why are non controlling interests paid when ordinary shareholders are not - I don't know
Why are non controlling interests paid more than ordinary shareholders when the later are paid - I don't know
Whats with $82m deferred tax liabilities - I don't know
I gave up trying to fathom GEMD and concluded 'Something is Rotten in the State of Denmark'
That said they could find some large stones in the morning and the share price could rocket.
Any chance you could answer my original questions.