RE: This years Profit > MC13 Sep 2024 07:12
Some nice delayed buys popped up from yesterday no wonder you could only get 1k before being nt into close.
An extract from some analysis online.
“By end of the year, they should be generating enough positive free cashflow to be net cash instead of net debt.
The share price will further jump again when they manage to refinance their banking facilities (expiring Dec24). Cutting it close, but I see this as a done deal, given the trajectory to a net cash position by year-end, and the bank having security over physical assets (ie a diamond mine, inventory).
Geologically, it looks like they are mining through an area rich in large diamonds. 3 were found in Q1, 4 in Q2, and so far in Q3 (75% QTD) they have found 4 already. My calculations is that they just need another 2-3 and they’ve covered their H2-24 costs; anything more would just be pure profit. Their current run-rate implies another 5-6 large diamonds before year end.”
Markets opening up nice and blue again with futures up with eyes on fed this afternoon.