Regardless the two prices should match. 1 or 2% OK but 5 or even 10%? FCA should get involved. |
Generally SA has had the seller and buyers in London
Much easier to deal in London due to currency and market maker system.
Most price feeds for SA are on 15 minute delay.
There is no withholding tax on UK registered stock. |
How has the company explained the large discrepancy in share price between thr two exchanges? It was a full penny yesterday, today it is around 0.5p lower in the UK.
Has anyone contacted the company? |
EPS was 1.5p so hopefully yes.
Their comments about ruby and emerald pricing remain upbeat |
Do we think the interim dividend will be around 1p?
The large discount to JSE price remains. |
Added again.
329 ZAR close = 14p
Huge discount here for some reason of 1p, almost 10%! |
LSE price trading at a discount to JSE.
So further auction update Monday? |
Liberum has not cut its 2024 forecast as they expect high grade production to recover and strong gemstone pricing. |
Mid single digit P/E and yield of 15% |
Added some. |
Liberum has a 26p target reduced from 29p. |
Should have sold out 18p and above, oh dear |
There were 2 auctions in the 6 month period last year, only one fell into this period, Despite that one auction being record setting it appears the earning are lower but in fact will fall into the next report so a false negative. |
Revised 2p dividend full year? 15% yield if so. |
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. |
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