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Do you people buy diamonds in a global recession??
30s coming...
What they’ve bought so far is still less than 2 million dollars.
Have the GEMD buy backs ended, looks like a return to the 40 to 50 p trading range. Buy backs were supporting the SP
The share price used to act better and at higher levels after finds like these. Must be therefore seriously undervalued, I think.
"Gem Diamonds Limited (LSE: GEMD) is pleased to announce the recovery of an exceptional quality 245 carat white Type II "
https://www.gemdiamonds.com/photo-gallery.php (click 'Daimonds')
The Jam did a song "Going Underground" in the 80s, this one needs that soon and its going to be expensive . Imo
Agree a pause is a slight positive but the uncertainty is likely to cast a dark cloud over companies potentially affected by it.
If it came to pass
- when would it apply ?
- at what rate ?
- what would be the impact on GEMD ? (given that the input costs to mining are massive I'd have thought proportionally substantial ? )
I keep looking at GEMD as a potential value play and keep coming to the conclusion that it exists to serve parties such as 'controlling interests', 'govt of Lestotho, Clifford Elphick/Michael Michalakis etc long before ordinary shareholders.
From an ordinary shareholder point of view GEMD is a punt that they find enough big stones that after everyone else is sated there are some crumbs for you.
From that point of view - you might as well buy a lottery ticket.
Was priced in, hence drop. Fact it's now being reviewed is actually a positive
Rns doesn't sound good to me...
'Another biggie' - you mean another bid drop in the share price?
WTF is going on here?
Like I said before should we vote in favour of ALL the resolutions… or what is it that something doesn’t simply work when diamond prices have been up and up (Someone selling diamonds in coffee shops - as I’ve seen people doing business in restaurants). Everyone would have expected a good return here; not your investments being killed. Or at last can someone sort things out and make investing in shares to be available for institutions and funds only .
On June 2nd 2021 GEMD closed @ 75p and management were given the authority to repurchase up to 14,016,955 shares.
One year later they have purchased 1,415,745 (and these have not been canceled ?? ) having sat on their hands November through March when the average closing price was ~49p. Purchases only started in the 3rd week of April 2022.
Clifford will probably mutter at the AGM that he doesn’t understand why GEMD attracts the lowly valuation that it does.
I’d respond either
a) it’s his job to ensure that it is not mis priced and he has been an epic fail or
b) it is correctly valued.
In either case he is not worth his over inflated remuneration package of £1,006,724 (2021). No doubt he will be looking a cost of living increase.
Maybe they mining higher grade ore now as been in the lower grade stuff for a wile. Hope so share price needs a boost.
Good to see. Of late there has been a big stone drought.
Far from selling now, Greeno… - Dear all, please do not leave your shares unvoted. The market capitalisation is ridiculously low that's why I will not be in favour of all the resolutions. Yearly increase of diamond prices and value from 1960 to 2019 is +14.47%. Just to compare: In 18 March 2014 full results the revenue was 212.8, the share price was 169p. Last year revenue: 201.8. Unless you're really a day trader (if I may put it this way at all), do cast your votes. It all may matter- you never know.
Dave the horse has now done a u turn and is now de ramping, you couldn't write it... Lol.
Dear all
If nobody sells shares for next 2 weeks you get a dividend and company will buy them back at prob 70p by then