Dividend paid today. I already have mine via Charles Stanley Direct. |
Very pleased with the ruby auction. |
$69m revenue in 6 months with new washplant due to triple capacity from 2025 onwards. |
Ruby auction held. |
Nice - so have been literally ‘sitting on a gold mine’!!! |
By gold mining standards it is. |
80m / 250 feet I wouldn't call close to the surface. |
Look at where the gold price is. Worth the market cap alone and apparently close to the surface. |
Yes but hardly ever mentioned $20m already spent and needs more work |
Hello? Was this gold known about? |
What value can we assign to the gold? £100M? |
Ex-div in SA today. Will be interesting to see how it picks up after with it going ex-div here tomorrow and leading up to ruby auction results in 2 weeks. |
Seller cleared in Joburg, buyers paying 13.65p there. |
Shares trading higher in SA ahead of auction news tomorrow.
Going XD 0.67p on 6th June |
Holding here but their capex is out of control! The net cash position has reduced substantially. Spending large amounts in such a risky place is foolish. |
Current market cap of £150m simply too low IMO. |
Total revenue from these 2 auctions last year was $124m ($34m emerald and $80 ruby).Hopefully a bit more this year with emeralds carried forward from November, but depends on productions levels and market. Will be interesting to see.Hoping for update on new wash plant at ruby mine as well. If it really can triple production from 2025 onwards then that's a big step up in company progression. |
Read that Rwanda are sending 2,500 extra troops to Northern Mozambique to beef up security up there too. Looking forward to to auction results. Hopefully market remaining strong and production decent. |
And selling in Joburg seems to be drying up. |
Thanks Saracen. Dividend in June too, so hopefully all combines for a good run of newsflow and share price action over the next few weeks. |
Confirmed auction dates
Result of Emerald auction 31st May,
Rubies 19th June. |
Totally agree. Weakness may be due to a rise in terrorism in Mozambique but recent attack was 134 miles away and the army are still protecting the ruby mine. |
I added toady at 11.9, pricing seems nuts.In 12-18 months when new plant online and backlog getting cleared output and profits surely going to be huge record for company and with returns policy in my humble opinion we will see massive divvi and massive increase in share price Again my opinion not financial advice but I'm expecting 2-300% increase in share price over next two years with divvis on the journey. |
I added a few shares at 11.5p as it seemed too tempting not too. I'm either going to make a significant amount of money, or loose my shirt, but at this point I'm not worried! |
Going to be Premium emeralds end June and mixed quality rubies mid June.
The emeralds offered include the extra that was withdrawn last year so should be a good number. Rand recovering helps.
6% dividend yield to keep you warm until new ruby wash plant triples production.
Interesting few months coming. |
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