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I think they will need to find another Lesotho legend in order for this to rerate. That sold for $40m, in fact they have sold many big stones for large sums but the one question which keep recurring is where has all the money gone. Shareholders have had very little in return with regard to dividends but have had to succumb to a falling share price and even when there is so called good news the share price is held back. How the directors are still in a job is beyond me. It appears that the large shareholders have hedged their holdings, so in reality it doesn't matter if the share price goes up or down. I wonder why they continue to vote in the current BOD at the AGM's after their continued dismal performance. Lesotho is a great asset run by incompetent directors and to think they are being paid for a $600m erosion and the current mkt cap is below £20m yet they don't buy shares says it all. They clearly have no concern for small PI's.

If they didn't sell the share price would be in the 20's. Why would they sell now? What do they know that we don't. It just seems strange to be a longterm shareholder and sell at this price. The mkt cap is below £18m, this is just ridiculous that the BOD are burying their heads in the sand and doing nothing. A bunch of drunk ostriches could do a better job than this motley crew.

Why don't the stupid idiots running this company do something positive for shareholders and recommence a share buyback. This stone is probably worth over $1m, they could use the proceeds for this purpose.

I wonder when the directors will buy. It's really poor that they haven't purchased any shares for a long time. The fact that the largest shareholder is selling and the directors aren't buying isn't a good sign. It would seem as though something really crooked is going on.

There was an RNS about Sustainable selling but no information about who purchased them. My money is on an undisclosed short. Shorts with over 0.25% are to inform the FCA and shorts over 0.5% are to be disclosed to the market. There is no way that amount was picked up by PI's.

I think it's about time the FCA looked into GEMD. The average daily trading volume is circa 175,000. How many were traded last week?

Are there any other holders out there think that something underhand has taken place?

They belong to Clifford the CEO I think.

Surely it's time for the directors to pick up a few million shares. I much prefer it when directors have skin in the game. Apart from Clifford the rest hardly have a meaningful holding.

Surely there should be some positive broker notes after the positive results too.

I think shorts were placed as it looked at one time as though Gem's future was perilous but fortunately they have found some amazing stones which has helped massively reduce the debt. I think they have gone through the worst of it and should be in recovery mode now. The current mkt cap of circa £20m is too low, hopefully some more large finds will get this going in the right direction. It would be great if they get a 1000ct , that would certainly change the company's fortunes.

Well that makes more sense then. If it wasn't short covering I wonder who was buying them.

Sustainable sold less than 2% where do you get the figure of 6.5m shares from as there is only 139m shares in issue. Over 15m shares were traded so who was buying them as there has been no RNS on the buy side? I assume its short closing.

They sold 2% probably to keep the price down in order to buy their short back otherwise it would seem rather strange to sell after the last update. Smoke and mirrors...

Grenades turnover in 2021 was less than £55m so if they were taken over for £200m nearly 4x sales. Myprotein isn't even valued at 1x sales. THG is being played with for a takeover, it will happen, it's just a matter of time.

It looks as though Millennium have been shorting again...

Mired in debt, this is an overstatement if I ever saw one. They will most probably have a cash surplus in the next 6 months. As for the $75m deferred tax liability, why do you think that is there? Do you not realise that if a carry forward loss is allowed a deferred tax asset will be present on the company's account.

I would have to say that since GEM have taken ownership and terminated the mining contract with the current prime minister of Lesotho they seem to be finding more larger stones. Politics is an expensive game although this of course could be a coincidence.

Lets hope they continue to find some more fantastic diamonds in the coming months that propel the share price to where it should be and that's at multiples of the current price.

The reason Gem went into debt was because they bought all the plant from Sam Matekane and took on his employees terminating the contract as he was elected Prime minister. This has turned out really well finding all these large stones helping to pay off the debt so quickly. Hopefully the market will wake up to this point.

If they carry on finding large diamonds they should have cleared the debt by the end of the current tax year. I wish the current BOD were a little bit ballsy and commence a share buy back as this would improve eps.

I am surprised they hadn't had an offer as Lesteng is clearly a world class diamond mine producing large high quality stones and they have tax write offs which must run into $100m's. The current mkt cap around £20m is ridiculous and the shorter isn't going to be able to suppress the price for long unless it's naked shorting and they have an unlimited amount of shares to sell.

Nearly 10% of the company traded today. It couldn't be naked short covering could it... FCA do FA no wonder pension funds don't bother investing on the lse anymore.

I disagree that the diamond market will be finished. There is and always will be demand for large diamonds which currently can't be made artificially. I doubt many people getting engaged will want to do it with an artificial diamond, not the best way to start a marriage.

If you think the diamond market will be finished in 10 years what are you doing wasting your time writing on GEM's bb unless you are short that is...

Clifford has to take some responsibility with the poor performance of GEM. He raised $635m to create GEM in 2007 and its current valuation is below $25m. This is a joke and if he believes that the company is worth more he should commence buy backs asap. They need to sort out Ghaghoo once and for all as it has dragged on and on costing the company a ridiculous amount in C&M. It cost $85m to develop yet the most they will get for it is about $4m, they would have been better off walking away from this years ago. Personally I think Clifford has to go as he can'r be so delusional to think that he has done a sterling job. Probably the most valuable asset GEM holds is the tax write offs...

Companies are supposed to declare shorts over 0.05% but often they don't, PMO had an undisclosed short over 15% by a Chinese outfit. Someone is holding the share price down though as one would have thought that finding 10 large stones this year the price wouldn't be languishing below 14p. I wouldn't say the company is being aggressively shorted but enough to keep the share price subdued for what end I don't know . There is certainly more the BOD could be doing, as you mentioned share buy backs would be a good start and perhaps dipping into their own pockets and buying some shares would show a bit of confidence to the market. The problem with Gem as far as I can see it is there are too many chiefs and offices which suggests to the wider market that it is a lifestyle company. The larger shareholders remain silent when they should have been applying pressure for positive change.

It's about time the share price rose. This has been artificially kept down most probably by a hedge fund. I very much doubt they were expecting GEM to find so many large stones this year. Whoever has been shorting this must find themselves in a bit of a quandary because buying them back isn't going to be easy. As you say Beejay this could fly.