Member Info for Kabaa

Good for you, I have been trying to get a buy quote all morning and can't get any more than 50,000.

Quite strange. I'd put in a limit order but they frequently don't even work these days!

Perhaps it will get more liquid in the afternoon....

Had this in the bottom drawer for quite a while and suprised of the lack of movement in SP in the past few months.

I very much doubt the sp will be anywhere close to this level during 2020.

Out of interest, what price are holders here looking for, why and what timeframe? 5p? 10p? 25p?

I don't personally bother checking in here every day as we simply have to wait for Newcrest to do their thing. That will only get more and more exciting over the next year imo, as they accelerate expenditure at Haiveron.

Goldman suggested in their note any positive news from any deal with China or Brexit, diamond prices will go up and stocks like pdl will benefit significantly. I am suprised we are not up a lot more from yesterdays news.

If pdl share price goes to 25p in November, for no reason at all, GS would upgrade the target from 10p to something like 20-30p.

Seen them do it on a few things including iron ore. They were bearish on that continuously and kept upgrading the price even though it was twice as high as each forecast. They ended up wrong about the price of that commodity by an entire factor of 3......for years.
And they kept moving their forecast up whilst the price went up, but still hugely lagging it. They were wrong the whole time basically.
Ive read All brokers collectively are less accurate on stocks than the average guy on the street who knows nothing.

GS is usually more respected than others but you still can't expect them to get most things remotely right or the price would be e.g sitting at exactly 10p now.

Looks like pi's selling to Goldman clients this morning and yesterday afternoon

Well the Goldman's note is more bullish than most people on here are suggesting.
It's had an affect of attracting a few larger buyers.
It states many catalysts for a big up move, things that I think will be sorted out, literally within days/weeks. E.g. diamond price rebound, relaxing of covenants, China trade deal, hk problems and brexit etc.
Pdl is now massively geared to the upside on any good news like this and have not changed my targets of high teens/twenties within weeks (before end Nov)

It's also added more liquidity to the share now they've put out their view and stated clearly to Petra management what they need to do to get the price back on track.
It's also alleviated some of the fears on here and added that pdl shares are oversold with a buy rec attached. Could see a 9p bid within days imo and if annual report good, then it could really run straight through the 10p target.

Someone still bought 500k and 300+k over 8p. Not you steve?

They basically review the stock every quarter and it just so happens there is a tonne of info about to come out over the next month so I'm not holding too much weight to the '10p' as they said in the note that will change dramatically on certain circumstances

Wouldn't be suprised if they do a bit more.

Don't forget, in the Goldman note it says there are many positives here that can drive the equity much higher and some of these could happen within days/weeks and I think they will.

It looks to me they are being a bit conservative as the diamond prices are so low....but if they recover PDL margins are going to skyrocket from here and the share price will be geared many times towards that. Unfortunately same on the downside, if diamond prices drop too much, PDL will be finished. I am firmly on the side of diamonds going up exceptionally for many years to come.

Goldman's buying this is probably what caused the turn this week.

10p could get changed in 1 day also. I'm sure these brokers often change their predictions based on the market price!

E.g. if this goes to 20p in November, GS and others will move their forecasts to 25

Other than the price it's a promising report compared to the rubbish that was being posted on here in previous weeks.

I'll be only slicing too, as I think this will go back to a quid in a couple of years after debt has been refinanced

downbutnotout

Perhaps they increase their shorts as in the other day but at the same time, buy on the open market to hedge their position.

They have a good 18m to buy back from memory and that will take a couple of weeks of buying 1.8m a day or 200,000 shares per hour or so.

I also think this buying may be ahead of news coming up as stated earlier, plenty to come over the coming weeks.

Also, I think the bottom is now firmly in and just about everyone who was going to sell at silly prices has done, so now we can creep back up towards a more sensible level. - I'm personally looking for teens or twenties but if they relax the debt covenants and report some good results, I may hold for more...

Yep. Mistake.

The confusion about this in the first place is looking at the lse website for news this time last year.
It didn't show the q1 news in 2018, although other sites do

News getting around about this diamond that was recently found.

Could be adding to the general buying this week.

Annual report 14th
Fy 21st.

Some crucially needed updates will be released along with the annual report imo.

The 50 day moving average is around 8.45p on my chart. It's often a point where shorters close, if we break above that.

You cannot compare PDL with the wider market. It has dropped 90% from it's ex rights price last year (56p)

It's 200 day MA is reading in at about 22p, Duffy bought there 3 months ago.

The down move is a freak move and a tripling of the price from here is not exactly going to make headlines. Doubling from here is a certainty for me as the sell off is plain wrong imo and shorters front running an II forced seller. Followed with halfwits like DC007 and co saying admin could happen any day at the low and constantly asking what a bond is and where can you find their prices lol.

Thanks colonel, you are correct. Although they didn't release anything on the same date last year but annual report coming on 14th - both should be very interesting...

A few people suggesting there will be an update on the 21st oct. Are you sure?

From what I understand there will be an annual report on the 14th oct which would correlate with last year. + there will be a lot of info in this apparently re. Project 2022.

I don't think there will be another announcement on the 21st

I've never even heard of them stocks but I have also seen the same scenario countless times on many others.

There are always these vile, greasy losers at the share lows saying outrageously stupid things like "pdl is cash negative", "they are operationally loss making" "the creditors can put them in admin any day"

It's as if they look for shares that have been battered in price to say these things, knowing there's a lot of fear our there any way.

They are always either trying to buy in or simply enjoying making share investors uncomfortable by saying these things. Or have lost on that share before and are bitter as hell.

On the plus side, when so much negative information is being spouted by many that simply isn't true, it is usually a signal that the price has hit rock bottom and a big bounce is on the cards in my experience.

How are they going to force admin?

What utter nonsense!

What will turn this share?

1. At least 15m (reported) shorts need to buy back in the market at one point.
2. Sentiment.
3. An ii deciding to take e.g. 5% (40m shares plus)
4. More detailed plans coming in the annual report and in general of how they can get large fcf.
5. Any interest from bigger players - They have 250m carat resource
6. More large stone finds in the same area as the one on 23 Sep.
7. Relaxation or waiver of covenants (this could be announced soon and imo will have a massive impact on the share price, potential over 20p within weeks if this is announced)
8. Increase in diamond prices, weaker rand etc.
9. Cheaper credit made available from the fed/ecb generally supporting shares with lots of debt. (Rate cuts, QE etc)
10. China/fed trade deal.

I could go on but there are a lot of positives that could cause a huge bull in this share price from now to Xmas.

This is attracting a lot of gloomies at the moment but this can change overnight with 1 of the above and this bb and share price will be a lot more positive.