Member Info for redwineday

Your idea of fully loaded (less than 1%) and mine are obviously different.

Wonder why WTE haven't used the low SP here to uplift their stake. Makes me bit nervous...

Didn't expect see these levels again. Could be some spooked by the virus spike in SA again. Buying opportunity i believe though, if you have the patience.

Taking time off for the hols no doubt. ffs..

This really is incompetence squared. They have had close to one year to get their accounting function sorted and been unable to. Interims will pro be 6 months late, I could do the results on the back of a fag packet and be quicker than LOOK.

FFS the Chairman should be ashamed of himself presiding over this debacle.vIIRC the CEO is the previous finance director. Why are they still in their jobs?

Shocking

Eventually you will be right Dave!

Looks like good news. Unfortunately though SP remains marooned, weighed down by lack of interest in the stock due to lack of trust in the bod. Eventually assuming diamond market continues to improve then the cash on the balance sheet will drive a re-rate. This will go no where until the next results are due or the find another big one.

How can one report contain two such contradictions?

Translated as we might go bust but apart form that we have a great business.

"Despite resilient liquidity and before mitigating actions, ongoing uncertainties of COVID-19 and Brexit mean severe but plausible downside sensitivities indicate material uncertainty regarding going concern"

"My focus now is to restore the listing of our shares and to strengthen the Board to take advantage of the many opportunities that lie ahead for Lookers, which is fundamentally a great business."

You might need to wait a year a while but I think you will get your £1 a share.

Obviously the key is the diamond market post covid. We know the DeBeers and Alrosa will be wanting to get their stock out into the market but they will do it in a controlled way but we shouldn't expect an immediate rise in prices. However we also know that the closure of Argyll and the lack of replacement investment should in the medium term start to feed through into prices. Once this becomes apparent, sometime next year is my expectation, GEMD with its product mix and no debt will be a big beneficiary.

Sityboy, I agree with your point. That said, eventually GEMD SP will improve from where it is now. If there is a recovery in the diamond market next year we will see cash in the company increase substantially and to be fair cost has been stripped out over the past couple of years (although probably when Mayfair reopens the lunches can re-start :-)). On top there is always the possibility of a major find. One really big stone can be equal to the market cap.

Medium term I can see £1 here, a long way short of what the mine would be valued at if a major owned it. But I don't see any takeover, it would have happened by now. I can think why not....

where r u?

SP here seems marooned. Big stones, broker upgrades, net cash, no debt and market slowly improving all ignored by the market. Either this is a screaming buy as a result of market mis-pricing or market doesn’t trust the board to prioritise shareholders returns. The latter is more likely imo until the BOD stat to make noises about divis or buy backs.

If I have got this right, current discount to spot price is 60mUSD. = 68c or 50p a share. Can somebody tell me if my arithmetic dodgy?

Lookers shares will resist during the lockdown. Perfect timing. Keystone BOD....

If I were them I’d look to build a cash buffer, given the recent experience and dara a at PDL a no debt policy is the way to go.

That said I would like to see a statement that says cash returns to shareholders are on the cards for next year.

Great result. Including after period end results the cash on the balance sheet is worth around 40% of the market cap. It’s only a matter of time before this re-rates.

https://www.diamonds.net/News/NewsItem.aspx?ArticleID=65625&ArticleTitle=De+Beers+September+Sales+Soar+57%25

Was hoping to see an RNS here on the sale of the big stones.

15k in trades, GEM loses 800k in market cap. Some say its a casino, I think thats insulting to casinos.

Current mkt cap $63m, If H2 is the same as H1, I am being very conservative, plus these unique stones at the analysts valuation of 18m for the the white stones plus the yellow to come, lets say 25m, GEM will be debt free and have 25m in the bank, so the future earnings is valued today at 40m or so. Even at 2019 prices its 2 years FCF. Its got to be worth twice todays share price as a minimum.

Can see this dropping like a stone when the buyback finishes. Looks like they have been only buyer recently.