Member Info for redwineday

I'd wager capital raise. Re-statement of accounts going back god knows how long, asset write down, no way are their sites worth what they were in this market and who would be a buyer anyway. New brooms to come will want to do a kitchen sinking.

Algos have re-appeared.

These stones are not special enough to cause a jump in the SP. What we need to see is how much cash is raised by the sale of the 442ct and 233 ct stones. If these combined can put 15m in the bank we should see some action. IIRC correctly they should be sold this month.

Interesting they speak positively of heavy oil. All gone quiet from ECO on their specialist report. Can we assume Joe and Jethro are basically a write off?

Might limp into the 40s. DeBeers sending out cautiously optimistic noises from the last sight cycle. But short of another catastrophic event. I think we have seen the lows.

Next step for GEM will be announcing results of the big stones tenders.

Agree. How can a company of this size possibly take 10 months to close it’s books? The only answer can be it’s a proper mess and goes back for quite a while. Why would you think it will rise? Doesn’t take 10 months to find good news.

Then again WFDIK...

Unless this re-lists with takeover news, can’t see it can be anything other than a car crash (forgive the pun) T least for the first days. Vertu, a model of sobriety management wise in comparison to LOOK is treading water despite some positive RNS. Lookers OTH will come back with an RNS will all of the dirty laundry for all to see. And that’s before any additional potential horrors we don’t know about. Could be a traders dream though.

Yep, lack of stock, look at the spread. No sellers. Augurs well I hope

My take on TLW call was, no drill in Guyana until 22, it was implicit in what was said about 21 drilling and the 'jokey' nature of his comment "never say never" about accepting an offer on Guyana, I take out from that, that they have no offer in view otherwise he would have said nothing.

I hope I am wrong but looks like a long slow road ahead for ECO.

and again

down again, same story for the last couple of weeks, opens higher and brought down by sh88ty little O trades, cant even blame bots here. It is definitely being held back, no matter the news.

Wonder if they were able to count how much money if any they made or we need to wait 18 moths to find out....

Dave, I'm hoping your 40p mantra will come true but the value here (£1+) will only become unlocked, one when the ,market improves and 2 when the BoD start committing on returns to shareholders. Until then, probably 2022, this is one for the bottom drawer. They can have my shares at £1 each.

Quite shocking. PV redux I doubt but could be cap raise due to restatements, property valuations, etc.

Don't think they are thinking like you. If they bought a 50m diamond they could probably double their return. If the spent 50m on a diamond company, what do they get, a hole in the ground in a far flung exotic place with terrible politics and a commitment to the locals. On top the can buy anyones diamonds in what is a buyers market.

Err....let me think which a billionaire businessman thinks is the best idea.

Don't see either Mr Graff or Mr Arnaud as wanting to own a hole in the ground in the south of Africa with all of the politics, potential corruption and so on that that entails. LVMH are a collector of brands. Graff already get to see the stones and i would imagine the pick.

Don't see either dividends or buy backs in the current climate plus a buy back would further contstrain the already low liquidity in this stock. However rather then the current statement on dividends which gives no reason to think this is a board interested in dividends, they could use the positive FCF created by the big stones to consider special dividends based on certain criteria. BS, debt etc.

Problem in this share is market has no belief the BOD are there to look after the shareholders interests. A policy such as the above would counter this belief and as a result we would see more interest and the SP rise on the finds.

They should be RNS'ing these finds to drum up some interest. I appreciate they probably don't because of cost but on the other had the volume here is woeful, meaning no interest. They should have a new financial PR agency onboard to drive interest. Then with the positive finds volume and price should improve.

Great example of the stock market at work. More interest in a crap shoot than cash generation.

I laugh when read pundits saying casino capitalism. You bet buster!

By the time its re-listed the mini UC boom will be history. All the laid off peps will be handing back their jalopies and taking the bus to the jobcentre and the self employed company directors in their Audis will be squeaking in their trousers over the incoming Boris blindingly brilliant no deal which as an aside will see the car business in the UK wiped out.