Gem Diamonds Share Discussion Threads

[ukgeorge] 07/11/2018 11:52

Roll on 115p and a few more 100ct stones and then a possible breakout higher

[ukgeorge] 31/10/2018 10:59

From share price angel

Gem Diamonds (GEMD LN) 109p, Mkt Cap £151m –Letseng increases diamond production 27% during quarter

• Gem Diamonds reports that its Letseng mine produced 35,755 carats of diamonds during the quarter ending 30th September representing a 27% increase on the 28,070 carats produced during the preceding quarter ending 30th June.

• Grades remained broadly consistent with the previous quarter at 1.98 cpht, compared to 1.95 cpht and the increased diamond production reflects a 26% rise in the tonnes of ore treated to 1.8mt during the quarter following “the successful replacement of the scrubber shell and other significant maintenance during the major shutdown in Plant 2 during Q2 2018”.

• As a result of the improved operating performance, Gem Diamonds has revised its full year production guidance for its 2018 financial year upwards. Diamond production has increased from the previously indicated 114-118,000 carats to the range 120-124,000 carats.

• Guidance for both capital and operating costs remain unchanged, however, reflecting the increased production expectation, sales guidance for the year has been increased to 118-122,000 carats from the previously indicated range of 112-116,000 carats

• Sales during the quarter increased by 3% compared to the previous quarter to 30,275 carats brining the year to date total to 91,971 carats. Revenue from diamond sales during the quarter of US$55.7m brings the ytd revenue to US$224.9m.

• Average prices during the quarter declined by 14% to US$1,841/carat although sales included eight individual diamonds sold for in excess of US$1m each. The sale of an individual 138.2 carat Type IIa white diamond realised an average of US$60,428/carat or approximately US$8.35m

• The company also discloses that, since the end of the quarter it has recovered a 375 carat diamond which is the thirteenth stone larger than 100 carats in size recovered this year.

Conclusion: The Letseng mine continues to deliver large, high value diamonds while improving operational throughput has led the company to increase its annual production and sales guidance by approximately 5%.

[ukgeorge] 31/10/2018 10:06

Pretty strong results, no dividend which is a shame the cash pile continues to grow.

Still going to short them NTV?

To be fair I'l probably sell some at 116ish area.

[ntv] 30/10/2018 18:35

I am not short at the moment UKGeorge
I was looking around the 117 area but no volume
will wait and see what tomorrow brings but pretty busy on other stuff at the moment but still watching and waiting!!

[ukgeorge] 30/10/2018 10:42

How is that short going NTV?

[ukgeorge] 29/10/2018 08:51

These were mentioned in Money Week on Friday, the article was pretty average but could draw some attention to the company

[ukgeorge] 25/10/2018 15:54

Bought myself a few more today, fingers crossed for the dividend being reintroduced.

[a13878713] 24/10/2018 15:57

On their last video conference they said, they would not issue rns on these types of diamond finds.

[ukgeorge] 24/10/2018 15:40

I reckon a special dividend of 3-5p is on the cards, must be quite nerve racking being short on a debt free company churning of cash finding 100ct stones every month

[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..