Member Info for redwineday

We need Gil out there doing some reprise of his previous ramping!

Would be disappointed not to see some analyst upgrades in the next few days.

Indeed. The managed positive FCF, reduced debt and a couple of big finds to go into H2 numbers. Generally I am critical of the BOD here as shareholders do not come as their priority.

But Elphick has done a good job here with the Covid hand he has been dealt. To say otherwise is sour grapes.

Not so sure. Rise in PDL over the last days is greater than here. Need balls of steel of course to be a buyer there...

Volume here is s@it. 2 stones worth 30% of the mkt cap and rise is very muted and on low volume. Volume spike lasts only one day. IMO this isn't about shorts, its about a lack of any statements form the BOD on shareholder returns and I don't see this SP reaching a fair value changing until there is one form on divis or cash returns. If BOD said we are going to use these sales to do a buy back and this will our policy in the future (subject to debt level) the SP would rocket.

It won't happen of course as that may impinge on the Michelin lunches in Mayfair.

Translates as, our strategy is to do what we should have been doing all along. If this gets to 5p its worth punt, otherwise nada....

Not sure this would make sense for Graff. If they believe the SP is undervalued in medium term, why not wait for the SP to improve. That should be worth more to them than shelling out today to take the company private when the only way they can capture any future value is to sell it or re-list it with the cost and hassle that would involve.

In any event by taking it private they only value they capture is being able to have diamonds at cost and GEM margins are pooh so value in this is small.

Don't see it.

I notice in the Accounting RNS they continue to talk about expected profit at PBT level in 19.

Call my cynical but what they don't talk about is prior years and BS impact. I can see some sort of restatement for previous years hitting the BS and forcing an equity raise. Other point they don't talk about is covenants. I think it highly likely that if there is a significant restatement then there can be a breach of covenants, which again would infer an equity raise.

My mistake, 7 weeks, not that it makes much of a difference given they have been working on closing 19 since Jan 1.

8 weeks suspended tomorrow. Must be doing a lot of 'accounting'. I mean it's not exactly Barclays or BP. Whatever it'll be interesting to see the next RNS...

I’m probably missing something but why would anyone pay more than taking in the debt as a max, unless there is a bidding war which seems unlikely. In this case the equity is worth nothing. Amerisur weren’t in breach of covenants were they?

Hope they can get it sold and in the books for H1/Q2!

Not bad, some nice sparklers in there.

Definitely Petrus types. After all old boy, when your shareholders are paying old boy arf arf.

Time the CEO was given his jotters, consistently lamentable performance.

GEMD ugly and unloved. Sea of blue everywhere and GEMD stuck. MCAP only 15m more than basket case PDL. BOD must be taking a nap after the afternoon claret.

Would be far more convincing if they spent their own money to buy at these prices. After all if it were a screaming buy there would be no good reason for them not to do it IMO. Chairman buying 50k is a bit of a joke.

they are on full on buying mode this morning..

Bid may indeed be forthcoming. This could be an explanation for why the price held up today.

That apart, no intent to deramp here, I'm happy to admit it looks like I got this wrong. But to be fair to me, the company produce an RNS saying they will produce their accounts before June 30th and 4 days later they then say before the end of August and shares will be suspended and auditors have resigned. I might be forgiven for thinking something sheet happened in those 4 days.

I think this gives me good reason to change my mind!

re-rate lol
Sp down 64% over the year
22% down on the day
shares to be suspended
8 month to produce accounts
FCA investigation ongoing
Auditors resign

everything spiffing

No way would I want to be in here when it gets suspended. IMO the results will come with a rights issue attached as BS will get hammered by restatements or provisions. It's inevitable. The thing I find astonishing is that this isn't down 50% today!