Gem Diamonds Share Discussion Threads

[ukgeorge] 24/10/2018 14:10

It is a bit surprising that the 357 ct diamond didn't warrant an RNS. Looks expensive to me

[ukgeorge] 24/10/2018 09:32

Short away. A week from now they will be higher. IMO

[ukgeorge] 24/10/2018 09:00

I just bought a few, I would not be surprised if the reinstated the dividend next Wednesday

[ukgeorge] 24/10/2018 08:48

NTV, I think £1 is a buying opportunity. Looks like support in this area on the chart and the mine is in a very good part of the ore body.

Also what are you talking about the company being loss making they are currently making great profits.

H1 2018 Results:
➢ Revenue: $168m
➢ Underlying EBITDA: $68m
➢ Improved net cash position to $30m

[ntv] 24/10/2018 07:25

Lol, wrong Wednesday!
Imho management lost credibility after talking to the press before announcements and here they go again.
At the end of the day it is all about positive cashflow that they said had but they but didn't

[a13878713] 24/10/2018 02:35

On the gem diamonds website last week, they found 357 carat light brown high quality diamond that's no13 in 2018 over 100 carats.

[a13878713] 23/10/2018 23:57

Plenty time for u to short it, result not untill next wed 31 october ;-)

[ntv] 23/10/2018 18:44

faffed about and couldn't get a price on volume to short ahead of the results tomorrow
never mind, lets see how much cash they are burning

[matt123d] 14/9/2018 20:55

Nice close on the weekly, see if there's a break of that 22 level next week

[haywards26] 05/9/2018 12:40

Hmmm interesting half year financials. Strong uplift in half year profits, yet a decrease in the balance sheet net asset value for the same period...

All being even, you would expect the net assets of an entity to increase/decrease in line with profits and losses..

The market likes the update. Overall positive of course.

[matt123d] 04/9/2018 21:06

122p the level to break, opens up a straight line move to 150p.

[ukgeorge] 15/8/2018 19:53

Excellent these were pretty much the only share up in the commodities sector

[sikhthetech] 15/8/2018 19:43

Keep them coming...

another top colour, over 100ct stone..

The 12th this year..

[ukgeorge] 03/8/2018 10:51

Company News
Gem Diamonds (GEMD LN) 115.5p, Mkt Cap £160m –Record half year tender revenues

• Gem Diamonds reports that revenues from tender sales of rough diamonds from its 70% owned Letseng mine in Lesotho during the six months ending 30th June reached a record US$169.2m.

• The average price per carat on the 61,696 carats of diamond sales rose 33% during the quarter to US$2,742 per carat compared to the US$2,061 achieved during the six months to 31st December 2017.

• · Sales included 25 individual diamonds which sold for over US$1m generating US$99.1m in aggregate. The company also highlights the previously announced sale, in March, of the 910 carat “Lesotho Legend” for US$40m, previously characterised as the fifth largest gem quality diamond ever discovered and now also described as “the second largest gem quality diamond recovered in the past century and the largest diamond recovered to date at the Letšeng mine.”

• The highest price for an individual stone was, however, US$62,433 per carat for a 2.26 carat pink diamond. Commenting on the continuing progress in recovering large diamonds at the mine, CEO, Clifford Elphick, said that “with the eleventh diamond greater than 100 carats recovered in July, now equalling the highest number of these recoveries in a single year. Greatly improved recoveries combined with the discovery and subsequent sale of the Lesotho Legend has generated a strong financial performance for the first half.”


• · We note that, assuming that the sale of the Letseng Legend diamond is included in the overall sales, the remaining 60,786 carats sold would have realised approximately US$2,125 per carat – a 3% increase on the average for H2 2017.

• Production over the six months amounted to 61,596 carats (H2 2017 – 61,333 carats) from the treatment of 2.99mt of ore at an average recovered grade of 2.06cpht (H2 2017 – 3.26mt at 1.88 cpht).

• · The main Letseng plant treated a total of 2.5mt of ore, of which 59% were sourced from the main pipe and 41% from the satellite pipe. The remaining 0.5mt “was treated through the Alluvial Ventures contractor plant, of which 54% was sourced from the Main pipe and 46% from low-grade stockpiles.”

• Overall waste stripping declined by 8% to approximately 13.5mt “in line with the long-term mine plan.”


• · Although the announcement does not elaborate “Encouraging progress has been made in the targeted US$ 100 million of cumulative cash cost savings and productivity improvements for the period to end 2021” though further details are to be released with the interim results early in September.

• · The company reports that initial non-binding offers have been received for its Ghaghoo mine which has been mothballed for some time.

Conclusion: Gem Diamonds has achieved record H1 sales as it increases its recovery of large, high value diamonds which include 11 stones in excess of 100 carats so far this year.

[ntv] 03/8/2018 09:23

i sold out this morning, taken my profits to the bank
it maybe to early but Q2 used up cash
I will wait and see whether Q3 is better

[ukgeorge] 03/8/2018 08:36

Start of the next leg up

[ukgeorge] 30/7/2018 14:16

chart is looking nice

[sikhthetech] 27/7/2018 14:29

Good to see yet another 100ct++ top white colour diamond being found...

[ukgeorge] 27/7/2018 10:23

hxxp://www.gemdiamonds.com/news-article.php?articleID=6732

another 100ct stone

Friday, 27 July 2018

Gem Diamonds Limited (LSE: GEMD) is pleased to announce the recovery of a 100.5 carat, top white colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. This recovery is the eleventh diamond of over 100 carats in 2018.

[matt123d] 25/7/2018 22:07

If the 120s can be regained again looks good for a move to 150p area.

[ukgeorge] 25/7/2018 12:09

Roll on bringing the 7p dividend back :)

[ukgeorge] 25/7/2018 09:15

Fingers crossed for a dividend, and continued good profits.

[ukgeorge] 25/7/2018 08:50

17 August 2017

HALF YEAR 2017 RESULTS
25 July 2017

H1 2017 TRADING UPDATE

Should be something soon

[ntv] 25/7/2018 07:46

after the company talked to "The Telegraph" it appears to have gone silent
from that article we know they had found another large diamond bur since then there have been no updates on diamond finds
there was talk of share buybacks and a dividend but nothing, not even an announcement of a trading statement.
what is going on?