gravity rising

After weeks of steady decline post company restructure, the share price has risen 9% today on no news. While the recent slump is probably attributable to impatience winning out over the potential inherent in the Congolese & local diamond exploration, it is interesting to speculate on reasons for the upward reversal.

BHP (not noted for sloppiness on matters of diligence) paid 32 cents per share for their share of Gravity's diamond arm so we still have a way to go before we're at anything like fair value.

With results from the Kasai (Congolese) diamond sampling programme not expected till early next year, my eye is on Ellendale in W.A. Perhaps results are coming at last from the highly prospective JV with KIM (also quite buoyant of late). Early microdiamond recovery rates were very encouraging but we've heard nothing since.

Worth the hold IMO despite the disappointment of the SP slump post restructure.

Gupper