GREY:PGDIF - Post by User
Comment by
Oregonduckon Aug 14, 2018 3:09pm
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Post# 28459101
RE:RE:Waiting for Godot??
RE:RE:Waiting for Godot??griefman wrote: Well, I’m sure some have noticed that on some rather disappointing Q2 news and results, SWY, touched 38 cents! A working CDN diamond mine worth only 38-40 cents...why bother with PGD.
Not exactly that far off from SP of PGD, and could go lower before it gets better. I think SWY is steal at this SP if you can afford to invest an amount that lets you sleep at night...back in SWY.
The diamond stocks are all unloved and in the dog house. None are doing well including Lucara (LUC) that reported excellent profits and will be paying dividends. DeBeers sold Karowe mine to LUC in 2010 for around $49 million, and DeBeers must be kicking themselves silly since then with the 1,100 carats stone and other large stones coming out of that mine.
As for taking over any diamond property not yet in production, only companies with unlimited funds would be interested as those deals are just not accretive to their bottom line.