Member Info for Happytom

I've been slowly rebuilding here for the last five months - sold my previous holdings back in July on that spike. My reading of this is that we're drigting through lack of news more than any change to the fundamentals - sold off Aus early December to refocus on the large stone mines where we've made proper profits in the past, and more shafts coming on line makes sense. Diamond prices are still fairly high at the moment, but there is room for growth as Europe and USA start to recover 2016 - 2018, so I'm taking the long view.

Not necessarily so - you need to ask why the others are reducing production and looking at C&M, the same as we did last year. The fundamental question is what is the predicted demand for platinum - there were some very positive reports out 11/12 and 12/12, and China is now back in increased growth which should help, but if the guys in the field are cautious about over-production, be wary! Having said that, I'm staying in as I still think we're under-valued.

Thanks - misread the time (I'm on the west coast at the moment, bit jet-lagged, so forgive me!), thought that he'd posted it at 6 GMT, so couldn't figure out why he'd be speculating on something that had already occurred!

Evo, sorry to ask a numpty question, but what are AHT's - guessing they're nothing to do with Apple Hardware Tests!

All seems very reasonable to me - we are making very little out of Australia (small margins eroded by strength of AUD). By selling it, we get an injection of working capital and eventually the inter-company loans are paid off too. We now re-focus on the core African mines where the diamond quality and weight better fits the remit of operation, particularly with the introduction of the new crushers that should reduce damage. It's very common to sell off assets at below balance sheet value - they're only worth what someone will pay for them, even if that is a small multiplier of annual profit.

153p after yesterdays results, 35p before. Cutting a long story short, yesterday's results look bad but were expected by many in the market - others were factoring in a larger loss and a termination of banking covenants so priced it down.

Not quite sure where you're coming from on this one? The loss has been pretty well factored into the price since the first big profit warning fall. If it drops to 50p then it's a massive opportunity to buy - with 110M USD loss, the assets are still looking at being about 110p, with a roll-forward of profit from this year to next due to 'delayed' delivery following the windcarrier fiascos. Not wanting to offend anyone, but there are a lot of posts on this board discussing the negatives of very small actual price movements on a micro timescale - guess that matters if you are purely trading numbers rather than looking long term at the company (I'm not saying that either way is right or wrong by the way, or at least I'm not saying that here and now anyway!)

Anyone out here got any calcs that would indicate why Investec have dropped their target to 55p - is there a problem with the banking arrangements? I stepped out of this for a while waiting for this third piece of news to hit (much longer than I expected to be honest, it's taken him a while to get through the paperwork obviously!), but still have this rated 120 -> 135 ?