Member Info for redwineday

Been busy all day and only looked at this just now. Wow!!

Greeno. Well done old boy! :-))

Surprised this hasn't bounced more on this news?

Col, I agree with your points with the exception of the Graff one. Surely if they had wanted to take GEM out they would have done so by now? Your valuation is similar to mine. It's bonkers that the SP is still not a pre covid level when you take into account the difference in the debt and cash position plus the market dynamic.

My only point is that I think it will take some event to "shock' the SP into a rise. Special divi, humungous stone or take-over. The value is there to see today but looks like Mr Market isn't paying attention!

I think the market is not going to re-rate until they have published the 2020 numbers. Given the previous shockers the BOD and team have still some credibility to prove. Looking for news as to who is the new chairman. This should another stepping stone assuming the get a serious city player.

Well, you could take one for the team and sell now ;-)

Until H1 results I guess. Given those 2 big recent finds and the complete lack of SP response, I feel nothing likely to move this up in the near term. Might bail and come back in August....

Update this week. Would expect to see this move up through the week.

“The CEO Nick used to run the accounts, has been with the company a long time“

That’s exactly the problem with VOD. Compare the backgrounds of VOD and BT CEOs. One is an entrepreneur and the other is a bean counter.

Lookers comms are truly s***e.

RNS March 18

"In April, the Group will issue a trading statement for the first quarter of 2021 and confirm the dates of its preliminary results announcement and AGM."

April 8 RNS trading update but no dates for 2020 finals or AGM and radio silence since.

I think the BoD think their shareholders are dummies who don't notice this kind stuff. Its so basic yet so important to do what you say will do otherwise don't say it in the feckin first place. Whats so hard. If I were a cynic, which I am, it would lead me to think there is an issue...

The reason the SP is drifting here is people are bailing on the uncertainty.

Its a positive message rather than negative

Indeed

last sentence in the report reads

"Thus, ferric maltol offers simple, tolerable, long-term treatment of chronic IDA in patients with IBD"

https://www.diamonds.net/News/NewsItem.aspx?ArticleID=66385&ArticleTitle=Alrosa%2bSales%2bRise%2bas%2bDemand%2bStrengthens

“In April, demand for diamond jewelry in the key markets continued to remain sustainably robust,” said Alrosa deputy CEO Evgeny Agureev. “Rough-diamond stock at the midstream remains modest, while the supply of rough diamonds gradually moves to a deficit state as global diamond production capacities [are] structurally reduced. Our April sales were well supported by the successful results delivered by auctions of high-quality, large rough, as well as by strong sales of polished diamonds.”

Judging by Vertus numbers, record profits for March-April this morning we should expect LOOK to burst the net for H1.

Anyone any idea when they should next update?

SP is still not where it was before Covid yet the company is now debt free with cash in the bank and turning up big stones on a regular basis.

Even if what you say is correct (and I do at least understand your point) that was the same before, so logically on an apples to apple basis GEM is very undervalued compared with historical comparisons.

Very very rough back of the envelope scribble.

If I take the Q1 net cash number and reverse out the plus and minus of dividends and tax, then add Q1 carats sold at anprice per carat average of H2 2020, take out the dividend then I get to a net cash figure of c30m GBP at the end of the period.

I'm being conservative on the $ over carat number as 1, we have sen two biggies in the last days which combined should raise the $ average higher than H2 202 and 2, we know diamond prices have strengthened further since then. So I can see us having a cash on hand number at 30% of todays market cap.

My only doubt is even with this when the market will re-rate GEM. I would have expected a higher price than we have today on the run up to the ex divi date. I think the baggage here is heavy and some more shareholder returns will be required to get the re-rate to take us towards £1 SP with is where this should be by now.

I just started Redwineday Capital Partners. I claim my 6m!

Gil please pay up.

Send the cheque to RWDCP, Mandela House, Peckham.

1k capital company with a letterbox address incorporated in March last year. Hope someone at ECO googled them!

Harel, thanks for the info. Unfortunately I don't take his remarks as particularly positive.

In his last proactive interview he stated that June was some sort of deadline (my takeout was Total had given TLW until then to make a decision). If now he is saying a "progress review" in May, it means no decision is likely in June. It also would indicate TLW want to stay in the chair, although he wouldn't necessarily know if they were talking to someone else about an FO. Clearly this is just not a priority for TLW and if Total are not ready to force then this can drag on indefinitely. The fact that Gil has been silent recently makes me think this is the case.

My patience here has just about expired. On top the renewables story and explanation was a no no for me. It came ever as a need to do something move.

https://www.diamonds.net/News/NewsItem.aspx?ArticleID=66340&ArticleTitle=De%2bBeers%2bSight%2bSees%2bStrong%2bDemand%252c%2bLow%2bSupply

Strong market and prices up!

The tap is on again!