Firestone Diamonds Share Discussion Threads

[varrirob] 27/11/2013 22:34

OK Andy, will do. Am open to any suggestions. Actually if I look back over the last half dozen posts I am sure I will have enough for them to justify opening another pack. Obviously power is on the question agenda. Finding the funds for the remaining cap-ex is another. I would like to say transparency, reputation and delivery should be in there as well. All for starters. Anything else?

[andy] 27/11/2013 22:34

Duplicate deleted, not sure how that happened!

Maybe I should send Gordon Ramsey as my proxy!

he could express his thoughts on the shareprice and management "performance" in his own unique manner!

[andy] 27/11/2013 22:01

Varrirob,

Good news!

The biscuit's all yours!

I now have a 16.00 in Kensington, so going to give it a miss this year.

Last year was pointless, no presentation and Tim Wilkes was being coy at the other end of a phone.

Please take some notes for us and ask questions.

I suggest when it starts you ask them will they allow questions at the end, becuase last year they wound it up quickly, and all we had was an off the record conversation afterwards.

Questions should be asked in any other business at the end, so they are on the record.

[andy] 27/11/2013 12:14

rnets,

I totally agree, to suggest they could even achieve a RI, never mind at a PREMIUM!, is clearly ridiculous IMO.

At what price could they get it away do you think?

At 1.5p maybe,as people try and average down perhaps?

[earnestwipplethwaiteiii] 27/11/2013 11:01

From the PI's point of view there is absolutely no case for investment unless you are prepared to hold for years - no revenue till at least 2016 (probably longer), large percentage of profits thereafter to pay off debt, any decent diamonds pledged against other loans, potential massive dilution at discount to present share price - who needs the headache? A speculative punt? Perhaps, if you really believe they can achieve $185m funding, the share price may get a (temporary) bump.

[sg1972] 27/11/2013 10:26

I remember this company under European diamonds, then kopane, at the time the management were suppose to be the best lol... One delay are the other and the main pipe should have been in production by now.I want this stock below 1 pence, otherwise there is no reason to hold this

[sg1972] 27/11/2013 10:23

And who's to say they will produce diamonds in 2016? This company can never meet targets, I know what they will say, the weather conditions are so bad we have had to delay it to 2020

[sg1972] 27/11/2013 10:21

Why would investors give MILLIONS through a RI at current levels? Are you saying there isn't enough stock to go round so they would pay current prices?No chance this stock hardly generates any interest. if there is a RI it will be at least 40-50% discounted from current levels, Why would investors pay for stock at current levels? They can buy it now if they wanted

[bigglesbingham] 27/11/2013 08:12

Take your point BamBam however there are some points which do give one food for thought. As to raising equity this will have to be done and as such it's unlikely much new monies will be committed until the terms of this equity raise is finalised. However I feel it will be the last cog to finalise as such I feel the shares issue price will actually be similar or in fact higher than the current share price because once the uncertainty of funding is removed then share price increase is a given - it's just if the shareholders are prepared to wait for returns. Major equity holders will In my opinion will have a simple choice stump up the money (with a good chance of positive returns over three years) or lose existing investment .

[bam bam rubble] 26/11/2013 21:59

Sep 24th 2013: GMP Securities appointed joint broker
Nov 26th 2013: GMP says nice things about it's fee-paying client (Hold the front page)

"Combined with COO Tim Wilkes this is a first-class team" ... "the project is so robust"

Mr Wilkes hasn't been COO since 2011, since resigning as CEO his role is simply 'exec' so that analyst isn't really on top of things. The note reads like a post boozy-lunch effort.

[buywell2] 26/11/2013 21:54

buywell2
14 Aug'13 - 17:30 - 2039 of 2048 0 0 edit

SP on the rise as predicted

3.25p chart resistance

Key level that ....

Still a POS mind ... but now with a frosted topping of De Beers fudge chunks

[andy] 26/11/2013 11:20

Warnado,

Good post,and the interest rate is of course very pertinent!

In my experience on AIM, something is omitted for a reason!

The funds required look way beyond FDI's reach IMO.

[andy] 26/11/2013 11:18

earnest,

You cynic! :-)

You raise an interesting point of course, the company now has ZERO revenue, but substantial outgoings.

I cannot see how they possibly raise the finance, especially now the figure has risen so much.

[earnestwipplethwaiteiii] 26/11/2013 10:46

Warnado - so the directors can spin the story along for a while longer to continue claiming their inflated salaries?
Actually it's worth adding that not only will they have no income until P2 starts production (optimistically) in 2016, but the company, after paying operating expenses, directors salaries, the GoL, interest on bank loan(s) and the forward sales you mention, will not have much to spare for "shareholder value" (remember that?) for several years after that.

[andy] 26/11/2013 10:06

26-Nov-1309:48:263.023,084Sell* 3.003.2593.14O


26-Nov-1309:13:523.05550,000Sell* 3.003.251,528O


26-Nov-1308:21:003.07530,000Sell* 3.003.259 22.50O


26-Nov-1308:19:493.10200,000Sell* 3.003.25 6,200O


26-Nov-1308:01:203.080525,000Sell* 3.003.25770.13O

[andy] 26/11/2013 10:04

I don't, I'm guessing.

If they were sells, they were above the bid, one by 10%, and that doesn't make sense to me, and I would have expected to 200,000 to be on the bid, not above it.

So I think they are buys below the offer.

[sg1972] 26/11/2013 09:33

Andy how do you know they are buys?

[andy] 26/11/2013 08:40

I think the three trades so far are all buys, and if so, share price is certainly weak to be that far below the offer.

Market not impressed with the news by the looks of it.

[andy] 25/11/2013 23:28

SG1972,

I agree, huge dilution is possible here,and at the current price, with a discount to market.

[sg1972] 25/11/2013 20:50

No reason to buy this at these levels, shareholders will be washed out when they raise millions by having a RI, I won't buy these above a penny

[andy] 25/11/2013 17:04

Well the news created a brief liquidity event, and then the share price reverted back to the mean!

As usual, initial news creates a bit of excitement and then the market digests the news, and then reality prevails.

[tradermel] 25/11/2013 15:19

A bit surprising yes, but so many holders have lost faith in their ability to deliver.

[andy] 25/11/2013 14:49

No, they keep to the relative safety of Moorgate.

Tyburn is in the doomsday book, so certainly relevant to FDI, I'll suggest it for next year!