Nice. Current buy 16.3p and sell 16p here though, so think they'll have a pay a bit more, especially if they want that many shares...Price looking strong towards ruby auction results in 2 weeks time as well.All bodes well. |
Buyer in South Africa bidding 15.8p for 700,000 shares. |
https://www.mining.com/gemfields-hits-three-records-in-latest-emerald-auction/ |
Liberum daily comment today
Gemfields* (BUY, TP 27p) – Records breaking again (9 pgs)
Gemfields is bucking numerous headwinds in the macroeconomic environment, setting a new record
for high-quality emeralds in a sold-out auction of $43.7m, up 41% from the previous tender, +25%
versus Liberum estimate of $35m. We had expected that rising interest rates would dampen demand,
but the auction had both the highest number of companies placing bids and overall bids placed, thus
bringing in rising competitive tension in the space. This bodes well for the ruby auction result later in
the month. |
Yes saracen! I do wonder about some of the PI's on these boards,
they would be better off investing in fixed rate bonds...
Rand is strengthening todsy vz GBP |
Joburg Stock Exchange. |
JSE is an oil and gas company working in AsiaPac. No relevance to Gemfields |
Trading at a steep discount to JSE now |
Agree 100% |
2022 dividend totalled 3.42p (22% of current share price).Fuel prices have dropped significantly since then with resultant reduction in mining costs, so if they continue to match or better 2022 revenues like they are then 2023 margins, profits and dividend should all be even higher than last year.Share price is all wrong at current levels. Should be a lot higher. |
And the situation in Mozambique is improving with the army protecting the mine. |
Ruby auction last June yielded $96m revenue. This year's June ruby auction results due in 3 weeks' time. |
27p still conservative IMO. |
Bought a total of 50,000 so far this morning. |
Interim October, final April |
Next dividend should be when?
If this continues should be around 2022 levels?? |
Analysts were expecting $33m and prices 15% lower. |
Excellent results. Too cheap by several factors at current levels. PE ratio of 3.5 is all wrong for such a profitable and growing company. Not to mention half market cap in net cash. Share price should move significantly from here. And next auction results only 3 weeks away. Happy days for GEM holders. |
Record sales, record prices, Much stronger than expected.
Ruby auction news on 21st June also likely to be good.
CRAZY CHEAP |
More great news. |
Auction closes today so RNS tomorrow at the earliest. |
No RNS for that emerald auction saracen? |
Depreciation of the Rand is the problem here currently as LSE has to match the JSE price. |
That's why the share price keeps dropping |
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