It came in a research update from StockDoctor stating that "the share price has reacted negatively on news of a military coup in Sudan, a market that represents ~10% of total sales and ~14% of metal detection sales (GR4). This could lead to negative earnings revisions in the near term."
The broader context to this is that gold detector sales in Africa make up around 60% of metal detector sales and around 40% of group revenues.
Like you, I have found a breakdown of these figures hard to get myself and I do wonder if something was said at the AGM, which I am keen to get the transcript or recording for.
All in all though, I still do believe that any impact in Sudan should be short lived - whoever is in power will still want money to keep flowing and to find gold.
CDA Price at posting:
$10.05 Sentiment: Buy Disclosure: Held
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