Member Info for 100notout

I have said time and time again that they should embark on a share buyback. Perhaps after the tender's if successful they could consider it.

This is down circa 5% on 500,000 shares traded. Manipulation or what...

I don't think it's down to people being impatient for the turn of sentiment. I would say that it's due to manipulation. The problem is the FCA do sweet FA about it... The US tech has gone up day after day and those companies are on sky high pe ratios. The argument the bears use here is debt but that could be significantly reduced if MCRO were to sell off a division. I think it'e just a matter of time before we get an offer as companies across the pond will want to increase earnings and a way of doing that is by taking over cheap companies like MCRO.

The thing is Colonel, Gem should be 30%+ now without a takeover. Maybe there have been some offers and perhaps the larger holders have been informed to see if they would sell at a certain price as the top 6 holders have circa 75% of the issue.

We shouldn't have too long to wait before a large find. Perhaps that will be the long awaited catalyst to get this moving again. I have picked up another 40k more in the past two weeks. Looking at daily volume I feel as though I'm the only buyer at the moment...

Well surely with all this news about increasing demand the bod haven't exactly played a blinder selling Ghaghoo off for peanuts having spent circa $80m developing it. The buyers have certainly got their timing right with Gem paying for the c&m for the last few years.

I wouldn't be surprised to see the first offer to be around that mark. That's how it works...

Down 9p on sod all volume. Somebody is playing with this...

I agree that Gemd won't be listed for long as it's dirt cheap as the market doesn't value them at a fair realistic price. I wouldn't be surprised if the Bod do a mbo with a leading shareholder. In my book $200m would be too cheap especially considering the cash balance to take over what is arguably one of the best diamond mines in the world.

This must be one of the most undervalued stocks out there. This should be trading at over 100. Come on Bod's use some of that cash for a share buyback.... You know it makes sense.

I agree Colonel it would be a bargain but if offered shareholders would probably accept it as the market for some reason just isn't interested in Gem at the moment. The vogue at the moment is US tech which reaches new highs on a daily basis. Perhaps when investors in those stocks wake up and smell the coffee they will look for value stocks on low pe ratios which pay dividends and perhaps then we will see Gem properly rated. I have a holding in Sibanye and their H1 figures came out today which were decent. They have a high yield, have a share buy back programme and they have a ridiculously low pe. I am happy to hold here as value will out in the end...

If a takeover were to emerge I would have thought a fair price would be 120.

I think the blocker for a potential takeover was Ghaghoo as it has been a massive drain with C&M costs. Now this is sorted we could receive an approach. It could even be a mbo with the help from one or two of the larger holders.

Why on earth are they using the proceeds for general corporate purposes. The best and fair use of the funds would be for a share buy back.

At long last it looks like they have got rid of Ghaghoo. I am surprised we are not up today, as Gem won't be paying millions on C&M every year. What an expensive disaster Ghaghoo turned out to be.

Probably the same idiots whom have shorted down Fres. They went up 7% today so no doubt when we get some good news here they will bugger off and pick on some other poor sods...

I wonder what sort of percentage is required to have a board seat here?

I would assume that it's a hedge fund shorting rather than funds selling. It didn't work out too well for them last time and I suspect it wont work this time. A few good finds could reverse the fall very quickly. Time and time again they have mined amazing stones and will continue to do so.
It would be good though to see directors buying. I have a bigger holding than all of them bar Clifford.

I totally agree Dave...

The fall in the last few weeks seems overdone especially considering the volume of shares traded. A market cap of £85m is farcical for a debt free miner with one of the finest diamond mines in the world.
Most probably chart driven as fundamentals seem a thing of the past today. I doubt it has anything to do with SA as companies like Sibanye would be down and they are up slightly.

There could be quite a few suitors for a bid and the company is clearly undervalued, we all know that. It does seem rather strange for the price to go down on very little trade and no apparent change in operating especially when you consider rising diamond prices. What amazes me is why the sale of Ghaghoo has taken so long. Surely with rising diamond prices and some very large stones coming out of Botswana now is the time to get it up and running again. After all they have spent a huge amount on developing it why let another company have the benefit of it. Maybe this all needs sorting out one way or another before a potential suitor places a bid.