Yelp

(polishedprices.com) - Not much new knocking around at the moment, as far as I can see. My chums at Gem Diamond continue to meet expectations with appalling results, revenue down, EBITA crashing down some 70%, earning per share down to 0.04 US cents compared to 9.70 US cents for the comparable period last year…. I last wrote about this shambles in March when the share price was £1.11 and now stands at 85.50 pence, or a fall of 23%, despite a fillip last week of 7% on the news that they may have found a buyer for Ghaghoo, the Botswana mine that they have put into care and maintenance to reopen when the market improves. ‘Market improve’, De Beers had a good first half and say that they expect the second half to be strong, so what are Gem waiting for? I must say I find it difficult that anyone would want to buy Ghaghoo as it has proved to be a total dog to date, so I am not going to be holding my breath and if it is sold I will be fascinated on what terms, perhaps with a book of Green Shield stamps.