16p paid.
Not sure how a p/e of 4 can be justified but so many UK listed stocks like this; on the US S&P they would be 3x the share price here. |
Shares in S Africa now back to the level company will buy back stock.
Mozambique situation improving daily, maybe the market thinks gemstone prices will
fall with diamonds but there is a disconnect based on limited supply. |
So update on Monday.
1p interim dividend? |
Trading at a discount to the JSE equivalent price again as the pound has weakened. |
Thanks for the info Saracen. They've scheduled operational update for 2 weeks today (31st July). Do you think they'll release info on wash plant / production rates then? |
It's certainly intensified since last week, moving ever nearer.https://www.caboligado.com/reports/cabo-ligado-weekly-3-9-july-2023 |
hxxps://www.voanews.com/a/many-of-mozambique-internally-displaced-fear-returning-home/7178230.html
Good news
Authorities say violence has declined in recent months because of support from foreign forces, mainly Rwandan and southern African troops.
That, said Mariana Camaroti of the Red Cross in Mozambique, is allowing some people to return home.
“Since the second half of last year, we have observed that thousands of people have started to return to their home villages in Mocimboa da Praia, [and] Mueda,” said Camaroti |
Rand has strengthened
Should be trading at least 0.5p higher |
Awaiting the decision on the new Ruby washplant which should treble production and pay for itself in 18 months. That is the catalyst for the share price |
What's going on now then? JSE action not good today... |
Update in a couple of weeks?
Any more auctions before then? |
150 miles away at least. The army is based on the mining camp so no risk to production. |
Yes but the share price keeps dropping.
Into the 15's again! |
Excellent news from Mozambique
hxxps://www.msn.com/en-gb/news/world/mozambique-security-residents-return-to-northern-region-as-situation-improves/vi-AA1doTRV?ocid=entnewsntp&pc=U531&cvid=8caac8ad97e04b47b7ce03e11bcaeeb5&;ei=24 |
On the face of it that is good news. |
https://www.bloomberg.com/news/articles/2023-06-21/rwanda-s-kagame-says-war-with-is-linked-rebels-in-mozambique-80-addressed |
https://www.cityam.com/gemfields-unveils-bumper-63-1m-sales-as-rubies-prove-recession-resistant/ |
Totally agree. Most likely that Assore with 26.8% will bid for the rest. |
At the moment, net cash equates to around half of the market cap and the dividend return is around 20% pa, at a time when revenues / price per carat is strengthening further. Seems strange. Share price currently way too low in my opinion. Fully expect broker target 27p to be hit later this year plus interim dividend paid out in the meantime. Very good results announced today. |
3.3p dividend last year.
I would actually expect something similar this year. Perhaps around 3p. |
Register to chat with like-minded investors on our interactive forums.
Hot Features
Premium
