Gem Diamonds Share Discussion Threads

[davethehorse] 31/8/2023 09:46

Diamond prices still falling too, we are not at the bottom yet, no sign of an upturn in the diamond index

[1347] 31/8/2023 09:36

I disagree, made a net loss, negative FCF, prices down, operational issues with electricity (why no mitigation earlier?) and plant stability, now having to fire employees. I struggle to see where things can improve, they've already done an operational cost cutting exercise which ran for ages now they have to embark on another one? Lifestyle company, directors and non-controlling interests will do ok, the rest not.

[farrugia] 31/8/2023 07:58

it is all known info. the financials all considered don't look bad.

[plentymorefish] 31/8/2023 07:31

Where there are far fewer coups………

[scepticalinvestor] 31/8/2023 07:26

Profit warning. SA based companies are becoming uninvestible. Far better alternatoves in Central and north Africa

[1347] 22/8/2023 14:32

I don't expect the financials to look good, you've got the carats sold, average prices and costs so I'm sure you can work out roughly what the revenue and earnings will be. I doubt you will like them.

[davethehorse] 22/8/2023 13:16

... could be a huge deficit for the year based on what we know...

[davethehorse] 22/8/2023 12:21

It's more the fact they are not telling us the financials in the updates like they used to, they used to give details like cash in hand, debt levels etc, not in Q1 and 2, WHY?? Can only be 1 reason imo....they don't want to disclose it yet.. imo...

[farrugia] 22/8/2023 11:59

because some people here are complaining that they are getting less $$$ per carat! The diamond market will turn round but like the gold price it moves up and down.

[davethehorse] 22/8/2023 11:45

Who said they could???

[farrugia] 22/8/2023 11:29

they can't dictate the price of the diamond market!

[caiman47] 22/8/2023 10:38

Q2 average diamond price achieved was US$1,317 per carat (back calculated). That's the lowest since Q4 2018.

[1347] 22/8/2023 10:24

Well nothing positive in that, tagged it a just another lifestyle company. H1 financials won't look good, prices down, costs up, production edging down don't see where any improvement could come from.

[davethehorse] 22/8/2023 09:03

Some indication of profit loss per quarter like they used to do until this year!

[farrugia] 22/8/2023 08:47

'only dollar per carat' - what do you expect if diamond prices are down? All i want is a respectable profit.

[dead duck resources] 22/8/2023 08:29

"Initial results of these actions [to reduce plant throughput] have been positive."

The audacity to have shoehorned the word positive into a negative update. You have to respect the directors for that, if nothing else.

[davethehorse] 22/8/2023 08:19

Again no financial details, only dollar per carat, which has slumped, the financial figures aren't going to be pretty for H1 in a few weeks.

[farrugia] 22/8/2023 07:51

i don't understand what's wrong with this update - all of us know that diamond prices have been under pressure. GEMD seems to have been chugging along well given all this.

[plentymorefish] 22/8/2023 07:17

Not a great update………

[davethehorse] 17/8/2023 17:03

That's a given...

[mindthestash] 17/8/2023 15:59

We can expect large pay awards for directors

[davethehorse] 16/8/2023 10:02

Based on the selling the past 3 days I'm not optimistic

[davethehorse] 16/8/2023 09:49

At least we have the notification now....update on 22nd, doubt it will be pretty though...

[davethehorse] 15/8/2023 20:53

Drop due to lack of news re the Q2 update...way late compared to previous years...why?