Think they may be in a close period till the results on 22nd September |
They are well below their share buy back price now! |
Exclude the write down of the non core platinum then earnings are $1.9c = 1.2p.
Will try to speak to the company later. |
Saracen what happened to the EPS? Are they with holding sales or spending a lot more on security? |
The mine has been producing fewer higher quality stones so what has been mined will be sold in the spring.
Result of current auction on Monday should show continuing strength of coloured gemstones despite weak diamond markets
Rubies are 2x emerald sales and profit and the deferred auction represents only about 9% of annual sales.
7p cash in the bank so any mark down in the shares should be limited |
Commercial emerald auction results due on 18th September and interims and
dividend/return of cash news is 22nd September. |
I would much rather a 10% yield or less and they use the cash for investment or a share buyback |
Chunky buys today but share price stuck around 15p
Dividend yield around 15% if 2.2p full year |
Diamond prices still falling due to Russian dumping into India, the increasing supply of artificial diamonds, and worries about the Chinese consumer. Some may feel the company may hold back on dividend due to cost of second washplant.
My view is that the remaining auctions of the year will demonstrate that coloured gemstone demand is as strong as ever and Gemfields wants to return cash to shareholders but still looking for opportunities in Madagascar after the forthcoming elections,the recent arrest of officials working in their favour. |
That is what is expected. |
Half year results in September, interim dividend of 1.3c? |
One day the Management will admit that the shares need to be quoted on an international exchange to attract new buyers and to avoid more damage from the weak Rand.
Absurdly cheap but Management do not do enough to promote the company.
Expecting strong interim and dividend next month and a reasonable emerald auction. |
Yes markets are not in a good place but for this to be in the 14's again is poor. |
Last year was an odd one with 1H earnings of 4.1c and 2H of 1.7c making 5.8c in total. 2H was hit by lower revenues (but in line with trend) combined with the fuel price spike.
Gem sales revenue for 1H23 came in better than 2H22 and fuel prices have been falling. |
Volume has spiked but done no favours to the share price
Last year earnings were 6c which would put p/e around 3; what are EPS estimates for this year anyone? |
Weakening rand hurting this for some reason even though no relevance at all. |
This should not be affected by a downturn, even a recession Already at a super low p/e of 4. |
China dragging everything down |
Positive for Gemfields. The last CEO always said that Madagascar has the most potential but is the most corrupt so refused to deal with them.
Having now exposed corruption it should help to open the doors whilst enhancing their reputation in what is a pretty dirty industry, blood diamonds for example |
More details in the national crime agency report. Be interesting to see if there is any reaction from France with a French national being implicated. https://www.nationalcrimeagency.gov.uk/news/madagascan-president-s-chief-of-staff-charged-with-bribery |
Madagascar, as I recall, was only a gem prospect with nothing ever invested or agreed ?If so, then I suspect we won't be doing business there until the govt changes, but it will show other potential partners that gemfields is an honest company. Whether that is a good or bad thing when dealing with southern Africa in a different matter ! |
Shows their honesty in reporting it. |
news about alleged bribe attempt |
The second wash plant will significantly increase earnings from 2025 |
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