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440k dumped plus multiple 10k trades, someone is desperate to get out with at least something...5p on the cards here?
Won’t happen if they ban
Diamond market still has further to fall imo
G7 in talks
This and PDL could surge soon especially seeing both at 52 week lows
Https://rapaport.com/news/press-release-diamond-market-worsens-in-september/
Echo,I agree that James is very keen to complete a deal but am not aware of a JV partner being in place.What evidence do you have please to support that assertion?
Yes I can re-iterate what JPW claims.
Botswana diamonds (BOD) has a JV partner in place and are keen to complete a deal for Ghaghoo.
I appreciate I’m only a layman but I can’t fathom what’s holding the deal up.
Ghaghoo has been a millstone around GEM’s neck for an age . . .
But James Campbell BOD CEO is keen to acquire it, he must be seeing an angle?
I believe there's a current offer on the table, may be the board are hesitant for some reason...
JPW,
only problem is that no-one wants to buy it, no-one wants to bring it back to production and no-one wants to but the small diamonds they get from Ghagoo.
Perhaps GEMD should give it away!
Do you think sale of Ghaghoo should go through, of there is a current offer on the table? Given the diamond market,would this free GEM from a large scale cost they cannot use at present?
Pretty much as expected but could have been worse, the main problem at the moment is that demand and prices for diamonds generally are still falling....when will it bottom??
Really?
They made net 1.5m o/w 2.1m was a forex gain. EPS went from positive to negative. In fact every single metric was substantially worse.
However in typical GEMD style the share payments went up as did corporate expenses. Still the company's leaders have a lifestyle to maintain.
The only rationale for Investing here is in the dream of a massive stone turning up but knowing that the business is run for the benefit of its management and non controlling interests.
Could have been worse.
Looks like they are attempting to preserve cash as this is the only metric which shows an improvement.
Loss per share 0.7 against positive 2.7 last year is a concern but, in my opinion, not enough to justify the reduction in share price in 12 months.
Let’s see what the market thinks.
Are or were?
Botswana diamonds are in advanced discussions to buy this asset, at the moment the care and maintenance costs and the potential costs of environmental rehabilitation obligations if the sale cannot be made will be holding back GEM
Again no financial details apart from $ per carat, which has slumped, won't make pretty reading come H1. Carats recovered fine but....
Yes it's the financial details that will be key and again they have chosen not to mention them. Same as Q1.
Not good but could have been worse.
At least we only have a week to wait for full results which will put more meat on the bones.
Think gut will be right after that update..
Gut feel Mr horse, let's see...
Why 12p specifically, a random.number?
A dull update and this has 12p written all over it.
Ive only got 20,000 shares, but will double down at that level.
I think the stock market as a whole is going to be down for the next 2-3 years, then the cycle begins again, thank goodness for 6% on savings and rental rises!!
They did have a potential buyer at one stage. It did drag on for quite a time. Not sure if we have ever been told that they are no longer interested.
Not too sure te Ghagoo but it was certainly a poor decision to aquire it! The Q1 update was very non descript in terms of details, wonder if we can expect the same for this one, the devil could come in the detail when H1 results are out in September.
Is it true Gem spent 85 m to bring this mine to production, had it operational for 2 years, and then closed it in 2017?
Some of the operational problems seem solvable if the right minds got to work on it, any opinions on Gem borrowing 30m to get Ghagoo started again,it would be interesting to see them attempt such a thing.