Member Info for 100notout

Surely the 511m you are referring to is accumulated losses which I assume were previous diamond assets which were written down. That's in the past, what we should be discussing is the total assets of $414m and why Gem have a Mkt cap of below £80m.

Graff had a few problems with hackers. They would be better off buying Gem than giving the money to the hackers.

Darktrace are down 5% and Micro are up 5%. I wonder if they are interested in Micro's security... The markets can be very leaky.

Dave -Similar minds think alike ... I didn't see your post when I sent this.

Berenberg have fluctuated between 70-80 for a while now. No doubt they will push it back to 80 when they pull out another 100ct +.

Sityboy - The bod may not want to be taken over and I understand your take on the matter but it's not just down to them. They may not recommend a takeover but it doesn't mean that investors will take much notice of their opinion especially given their minimal holdings. I am surprised an offer hasn't emerged but just imagine if one did, I don't think Graff would sit still...

That would have made sense Red.

The mechanical news was a pity but at least the issues have been resolved. We still have a good cash pile and we also have the two large stones which will bolster this. Another mover will be when they finally sign over the sale of Ghaghoo. Add in a few more decent finds which is easily achievable in the next quarter and things don't look so bleak. Liberenum still have a buy and 100p target.

One has to ask why didn't they RNS the news about the mechanical failures as obviously some knew and brought the price down accordingly. If the news was out they would have fallen and then risen on the back of the large diamond finds. It just doesn't make sense...

What looks fishy to me is the fact that they have net cash which would enable them to commence a share buyback and they let the shares languish at these low levels and don't take advantage of it. If one was of a conspiratorial nature you could possibly think that it's being kept down for a lowball offer.

I wonder when Graff will make the move and take Gem out. Considering the cash position, tax write offs and assurance of a stream of some of the worlds finest diamonds It makes sense.

Liberum has a buy on Gem but has reduced the target to 100 from 110.

I doubt it's shorters opening positions as it's dangerous to bet against a diamond mine which is valued at under £80m with net cash which could pull out a stone worth over $20m at any time. My take it's nervous holders which don't realise that the news has already been traded down and back up again with the jaw issue resolved and the finding of two large stones.
Equally with a buy back they would only be limited to buy a certain amount of shares back as 7 holders alone own 75% of the company. They should start off with a £1-3m and see how it goes. They really should take advantage of the fall today and mop up as much as they can below 75p.

Well we now know the reason for the drop and the subsequent rise with the issue being resolved. We also had two large finds in the period and have the cash from the last tenders to bolster the cash position. Considering all this the fall seems way overdone. Perhaps now is the time to use some of the cash from the last tender to commence a share buyback... It would also be encouraging to see the directors pick up a few shares. One thing they need to address to increase investor appetite for the stock is to close the spread.

Just tell us when you can smell them Greeno. 1000ct + would be welcoming.

You must have the nose of a beagle. Maybe you should go out there and have a sniff around and tell them where to dig.

It looks interesting but as Boris puts it, Gem is oven ready.
What we need is some press write ups. Eg, Gem Diamonds sparkled 7% higher on a buy note from broker Berenberg... Come on IR get the message out there.

Don't forget though Dave, those large stones come in like the No.9 bus. You may have to wait for a while and then 3 come along together. I doubt it will be too long now before we get a monster rns announcing some dazzling stones...

So we have Berenberg and Barclays both on 80 and Citi and Liberum on 100.
I personally think a fairer reflection is closer to 120. What do you all think?
To get there though we need to find some more large stones and increase the cash balance. If they get the balance over $50m then they will be very vulnerable to bids as the potential bidder in essence won't have to stump up much of an outlay.

Maybe MCRO should go private and change the name and then re-list at £30 next year. Probably the only way we will get a sensible valuation...

After selling Ghaghoo I really can't see them wanting Firestone.