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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.
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...