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Can I ask where you found this information, Burg1? In the prelims it says the following: Board decided to return cash to shareholders: - recommending shareholder approval for a cash return to be made in June 2013 http://www.investegate.co.uk/pv-crystalox-solar--pvcs-/rns/preliminary-results/201303210700295130A/ If it is to be decided upon in June 2013 I would have been surprised to learn that the dividend is to be paid in December. I would have thought it would be either in July sometime.
Almost certainly a single buyer building a position. However, remember that not so long ago there were some hideously large sell trades going through. One I think was around half a million. Perhaps an II or wealthy PI sold out upon the news with the notion that he/she would rebuild exposure on a smaller scale if the price and outlook was right. So far we still don't know a great deal more about the future of mining in Zambia. Of course it will exist, but in what form? Will the gov.t implement new tax initiatives on miners? It's a definite possibility. They might force stake sales in mining enterprises to indigenous firms. There are so many things that could be thrown at Gemfields right now that could only hurt it, not help it. Very frustrating because this story was blossoming only a few months ago. I myself am not confident right now. I will be when the newsflow opens up again. I'm surprised that GEM have not released an RNS reviewing the Summit and any outcomes that arose.
One can always chase the bottom and buy on a dip thinking they have beaten the market. Sometimes you win, sometimes you lose. I've been watching this stock as a potential investment when it was around 80p. Glad I stayed out. The latest man report only told of problems, more problems than in their last statement. I'm going to stay on the sidelines until there are signs that operational performance is improving. Otherwise we may find that their turnaround policies aren't enough. More often than not you can buy in at roughly the same price as when you don't know f things are improving. At any rate, I'd certainly prefer to pay a little more for a long term investment if i am more sure that my cash will still be around for the long run!
I'm not sure if many have realised that management have updated their guidance regarding cash flows for 2013. Previously, it was stated that the target was for cash flow neutrality for the year. However, looking through the presentation released on 31st March, this appears to have been revised upward: Outlook slides: - Generation of positive cash flows in 2013 Here is the link: http://www.pvcrystalox.com/media/pdf/2012%20PVCS%20Prelim%20Results%20-%20analyst%20presentation%2021%20March%20FINAL.pdf Sounds good to me. GLA
Yes I read the annual report with delight. Its fresh, new, exciting and forward looking. Everything we need. I also like the fact that the company has the beginnings of a diversified business model, with presences in multiple markets. A one trick pony Toumaz is not. But of course, that little word 'EXECUTE' is where the magic happens and the money moves. I'm confident they can do it. Time, as ever, will tell. GL
Thanks for your response a little while ago. Interesting to here your thoughts, although it would seem that I am certainly more bearish about the Zambian issue than you are. I would not read into these large buys too much. By symmetry, you would notice that a week or two ago we had a £1M sell with a number of smaller sells in the hundreds of thousands of pounds. The chart also doesn't look too good. Don't get me wrong though, I am a big fan of Gemfields and the management. As soon as the Zambian affair is clarified I will be seriously considering becoming a shareholder once more. No doubt the majority of those who sold out at the news like I did are thinking the same thing.
Can I ask why you think GEM should climb back to 39p? I can't see a technical or fundamental reason for now. Until this cloud of uncertainty lifts regarding the proposed Zambian auction ban outside the country I'm not expecting an upward re-rating. We still don't know if the Singapore auction is still going ahead. If it doesn't, that is very bad news. It is likely that it doesn't go ahead. We don't know how well the high quality auctions will hold up in a Zambian setting. Will they be as good as before? Unlikely. Will they be more severely affected by the policy? Perhaps, perhaps not. GL
Negative sentiment has been blown out of the water here. The fair value of 8p, as stipulated by Peel Hunt when coverage began, was stated to have 'material upside' from the healthcare side. Info from a fellow poster on another BB so I don't have more details. I'm only in here for the Healthcare anyway! Looking very good here. GLA
I agree that TMZ would do well to inform the market on a more sustained and clear basis. Perhaps they see it as non-productive until it is possible to tell the market about real market-moving data/information. Will we see that in the report due this Thursday? I have my fingers crossed. We should certainly hear more about the pilot and outcome. Thanks again for your thoughts and information over the past couple of weeks. I have been reading even if I have not been posting.
Who would have thought: http://www.bdlive.co.za/africa/africanbusiness/2013/04/17/zambias-new-rules-for-emerald-auction-impractical-say-buyers
The very first sentence of the RNS tells us why they announced this: "Pursuant to applicable LSE-AIM regulations, Gemfields plc (AIM : GEM) hereby notifies its shareholders... " Regulations state that the Board is required to inform the market and its shareholders of any information which can positively or negatively effect the value of the company. Something like this, where profitability may be at risk, comes under that banner. I suppose they announced that they would be in talks with Zambian officials to provide something for investors to cling to. It provides a little hope that the door has not been closed and bolted regarding negotiation around this proposed policy. It would be poor form indeed if the Board decided not to mention any of this to the market. I seriously doubt that a management buyout is on the cards. Why would they want to buy a company from investors with this policy looming? Only if they are confident that it is immaterial. I would not think this to be the case. Anyone buying in now to potentially capitalize on a buyout offer is living in fairyland IMO.
Again, sensationalistic. It no doubt is very bad news indeed but the outlook remains unclear. Doomed still is not the word that describes Gemfields. IMO. If you would like to call them doomed then so be it, but I would like to add that you are correct in your eyes but for the wrong reason, for you stated this for other reasons unrelated to the current storm. GLA
Thanks for sharing that. I agree with each and every one of the points you make. I sold at the open today but I really hope to see this as a buy once more and be a part of this story. The management have done absolutely everything right and they are back-handed with this. It is a great shame. I hope this is just a blip that is favourably resolved, but only time will tell. A genuine wish of good luck to all.