There’s nothing quite like being in the eye if the storm, just type in diamond news - and the sector is clearly under pressure.
plenty of challenges ahead:
https://www.*.co.uk/companies/news/213406/petra-diamonds-shares-lose-their-shine-as-decline-in-diamond-prices-overshadow-improved-revenues-213406.html
the solution is prudent financial management, and being profitable. HQ Diamond space is clearly the only place to be, the other High Debt marginal producers are going to have a tough time. We have one beacon of hope, and I bet Stanley is putting in a full week these days, being a major SH and on the board he’s one of us. So we’re not alone.
This is a last man standing game, prudent financial management matched with backers with a long term focus is the only means of survival. As for Petra...well it’s a debt management game from here - good luck with that one.
In some way the recent heavy selling in LOM might be explained by what is happening in the sector right now.
I like to buy straw hats in winter, and umbrellas in summer. So I still like LOM under 20c - even with yesterday’s capitulation, the sector is out of favour, with most probably more bad news to come from high debt marginal players.
good luck LOMers, it’s a tough mkt right now, the pain is clearly out there, at some point in time the mkt will turn. Stock looks cheap under 20c - but the sector is struggling...so I’ll speculate and guess that we probably haven’t seen the last of the heavy selling. But I will also speculate that the smartest guys in the room are buying right now.
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Last
5.4¢ |
Change
-0.001(1.82%) |
Mkt cap ! $15.66M |
Open | High | Low | Value | Volume |
5.5¢ | 5.5¢ | 5.2¢ | $31.17K | 577.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 182640 | 5.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.4¢ | 104999 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 182640 | 0.052 |
1 | 50000 | 0.051 |
2 | 20500 | 0.050 |
1 | 70000 | 0.049 |
1 | 40000 | 0.046 |
Price($) | Vol. | No. |
---|---|---|
0.054 | 104999 | 1 |
0.055 | 60001 | 2 |
0.062 | 120000 | 1 |
0.065 | 80000 | 2 |
0.069 | 116000 | 1 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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