Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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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.
Trousered £1m+ in remuneration is 2021.
I believe he also has sidelines providing 'services' to GEMD proper ( https://companycheck.co.uk/company/06482961/GEM-DIAMONDS-INVESTMENTS-LIMITED/companies-house-data)
DYOR/IMO makes his real money 'playing ball' with 3rd parties.
Looks like he's still holding 9,325,000.00 shares.
Freedom4All - for my view see the first post on this thread.
New here and have a couple of questions if someone with knowledge could please help, upon looking at Total assets 379m, Total liabilities 140m, Net assets 239m, I assume that the company had net assets of 239m but upon looking at equity and liabilities it appears only 154m of that figure belongs to the parent company and 85m belongs to a non controlling interest, this I've never seen before, somewhat confused, why are assets of a non controlling interest listed in Total assets of Gem diamonds, is it to give a higher net asset value upon glance 239m but upon closer look the net asset attributable to Gem diamonds are lower 154m. Also why is more profit going to a non controlling interest, profit for the period 9.4m, profit to non controlling interest 4.5m, profit attributable to parent company 3.8m after loss from discontinued operations. Who are or is this non controlling interest and looking upon non controlling interests I cannot see this figure of 4.5m. Separately in liabilities whats with the high tax deferral of 82m, could one also give more information regarding LRA v Letseng, I see waste tonnes mined of 6.3v 10.2 in accordance with mine plan but even with this lower waste mined still produced same amount of ore. Any help would be appreciated took position here as saw mcap 50m, NA 240m and I expect profit to be around 20% of current market cap, didn't look bad just wondered if I've missed anything.
It doesn't look that bad considering eps of 3 with current sp of 33 = profit 10% of mcap. Mcap of 47m net assets of 246m, net cash of 12m , whats all the panic about, wouldn't a takeover at 100m not be highly likely.
Thats a lot of diesel and dynamite
"extraordinary increases in operating costs, most notably diesel prices and explosive consumables"
When it comes to the dividing up the slim pickings at the end of the year 'non controlling interests' will be prioritized. Ordinary shareholders will standing about with two arms the same length.
50% YoY, not 505, obvs
Revenue down by 4.5m, EBITDA down by 14m! and in the usual vanishing trick, and EBITDA of 21m ends up as a net profit of 3.8m. down by more than 505 YoY. Eh?
Put another way at current price (good) cost (bad) levels they need to dig up close to 200m worth of diamonds a year to get to break even. And thats an open pit mine!!
Doesn't look cheap, looks very risky. Not for me anymore, good luck all...
Chart says it looks cheap, approaching lows but imo it’s cheap for a reason. If there is a cash raise coming here SP will get decimated from whatever level it’s at.
With the amount of cash that vanishes combined uncertainty over mine outlook you’d be taking a punt.
Think most of those who were in have sold out, not sure which direction this will go from here, looks cheap but is it??
Were just the 3 100+ stones sold for $13.9
Or were other large <100 stones also sold at that tender so giving more post half income?
Tanking today on Liberum downgrade to 40p hold, from 80p!!
I have known for a long time this company is going nowhere but hoped for a rise to get out . But last RNS proved it.it’s nearly mined out .or the cost of mining will lose money. Get out and save yourself the misery.