Gem Diamonds Ltd. (DI) (GEMD)

Sector:

Mining

Index:

FTSE Fledgling

11.73p
   
  • Change Today:
    -0.100p
  • 52 Week High: 14.85
  • 52 Week Low: 7.99
  • Currency: UK Pounds
  • Shares Issued: 139.72m
  • Volume: 222,970
  • Market Cap: £16.38m
  • RiskGrade: 292

Gem Diamonds H1 EBITDA falls despite 'strong demand'

By Iain Gilbert

Date: Thursday 01 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Diamond producer Gem Diamonds said on Thursday that first-half underlying earnings had fallen despite "strong demand and robust prices".
Gem Diamonds stated interim EBITDA had slumped from $34.7mm to $20.9m as revenues dipped from $104.5m to $100.0m.

Cash on hand was said to have increased from $19.3m to $24.2m as of 30 June, while the group also highlighted that it still had $69.9m in unutilised facilities.

Gem Diamonds also said solid demand and robust prices achieved for diamonds from its Letšeng mine reflected "continued positive sentiment" in the diamond market and noted it had hosted a Dubai tender viewing in March 2022, which was "well-attended" and "contributed positively" to firm prices achieved during the half.

"The Letšeng operation has operated in line with expectations during the period despite challenges presented by severe weather conditions such as a high rainfall season and snow, which impacted both mining and treatment activities; increased frequency of electricity disruptions, and increased operating costs, most notably diesel and explosive consumables," added Gem Diamonds.



As of 1315 BST, Gem Diamonds shares were down 0.57% at 34.90p.





Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GEMD Market Data

Currency UK Pounds
Share Price 11.73p
Change Today -0.100p
% Change -0.85 %
52 Week High 14.85
52 Week Low 7.99
Volume 222,970
Shares Issued 139.72m
Market Cap £16.38m
RiskGrade 292

GEMD Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
7.08% below the market average7.08% below the market average7.08% below the market average7.08% below the market average7.08% below the market average
57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average
Price Trend
11.32% above the market average11.32% above the market average11.32% above the market average11.32% above the market average11.32% above the market average
24.09% above the sector average24.09% above the sector average24.09% above the sector average24.09% above the sector average24.09% above the sector average
Income Not Available
Growth
98.34% below the market average98.34% below the market average98.34% below the market average98.34% below the market average98.34% below the market average
96.61% below the sector average96.61% below the sector average96.61% below the sector average96.61% below the sector average96.61% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GEMD Dividends

  Latest Previous
  Final Final
Ex-Div 19-May-22 13-May-21
Paid 21-Jun-22 15-Jun-21
Amount 2.70¢ 2.50¢

Trades for 31-Oct-2024

Time Volume / Share Price
14:03 125,000 @ 10.97p
15:17 2,567 @ 11.10p
15:10 5,000 @ 11.34p
14:05 25,000 @ 11.04p
13:29 710 @ 11.25p

GEMD Key Personnel

CEO Clifford Thomas Elphick
CFO Michael Michael

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