Firestone Diamonds Share Discussion Threads

[andy] 08/5/2014 09:15

earnest,

Good question, and we shall see.

To be fair they have done well so far with the insti's, so we shouldn't write their chances off.

[andy] 08/5/2014 09:13

Bam Bam,

41% takeup is higher than I thought to be honest.

I agree re "pilot production", that is really stretching the truth!

[earnestwipplethwaiteiii] 06/5/2014 16:49

Where to now, will they find IIs to take up the slack yet again?

[tradermel] 06/5/2014 16:42

I am not participating in this OO. Good luck to all that are, but don't like the conditions surrounding the offer.

[andy] 06/5/2014 16:29

I see a couple of peeps on the other thread are buying into the rights issue.

A saying about good money after bad springs to mind!

I will be astonished if they get anywhere near filling it, I know a couple of large holders that are giving it a miss, for a start.

I think back to the days when this was a simple production story, no debt, anda tight share structure!

And now shareholder value virtually totally destroyed, and a massive financing to fill!

[mrphil] 06/5/2014 16:23

BUFF 1314, me too, my existing holding had become almost worthless so it was either write them off or give them a bit of a kick! As you say, time will tell.

[buff 1314] 02/5/2014 17:58

Decided to take up open offer and increase holding,time will tell!!!

[mrphil] 02/5/2014 17:51

Hello buywell2, I take it you're not keen on this one then?

[buywell2] 02/5/2014 17:39

The silence is deafening

[mrphil] 02/5/2014 17:07

Anyone gone for the open offer shares?

[buywell2] 30/4/2014 13:09

Back to 2p soon anybody ?

[buywell2] 27/4/2014 12:38

Major problems in SA could spread

I think the FDI chart might show signs of stress soon if it does

The opposition party in SA is set to become number one








buywell2
6 Aug'13 - 11:38 - 2021 of 2241 0 0 edit


OK

It's brought out a defensive buyer .... at these fire sale prices






buywell2
13 Aug'13 - 07:49 - 2037 of 2241 0 0 edit


SP will probably rise today though .... maybe 3.25p once more soon

''De Beers'' will do that

Investors have very selective memories , and newbes don't always look back

[andy] 11/4/2014 09:43

Earnest,

I read that bit too, I guess pressure being brought to bear on the KOL, agree, or lose the jobs and potential royalties and taxes!

Meeting at 10.00am, nice, touch of class there, an early start minimises the attendees!

All the tricks of the trade as usual.....

Pardon me I'm a cynic, FDI have given me plenty of reasons to be so over the years, and nothing changes, even with a new BOD.

[earnestwipplethwaiteiii] 11/4/2014 07:12

"The Fundraising and the Absa Debt Facility are also conditional on, inter alia, the Company's subsidiary LMDC entering into the Revised Mining Lease Agreement with the Lesotho Government. The Company is in advanced negotiations regarding the terms of the Revised Mining Lease Agreement with the Government of Lesotho but, in the event that satisfactory agreement between the parties cannot be met by 28 April 2014 and the Revised Mining Lease Agreement is not entered into by such time, the Fundraising and the Absa Debt Facility are highly unlikely to proceed.
...."However, the Revised Mining Lease Agreement remains, at this time, subject to final negotiations with the Government of Lesotho and whilst the Board believes that significant progress is being made, the Revised Mining Lease Agreement is reliant on both parties being able to reach satisfactory agreement by 28 April 2014."



Hoho, down to the wire, will the KoL pull the plug?

[bam bam rubble] 05/4/2014 13:45

According to the Finnish national broadcasting network...

Reading between the lines Finland authorities are really just getting the message out that following legislation changes, the country's mining sector is open for business. The project mentioned is dead in the water though so reference to FDI can be ignored.

"In Jan 2014, Finland's mining authority began processing Karhu Mining Company's 2011 application for bulk sampling at the Lahtojoki project (2ha), 70/30 JV between Mantle Diamonds and FDI. The application was delayed for several years due to changes to the country's mining legislation."
hxxp://content.yudu.com/Library/A2s0vh/HLPFIMarApr2014/resources/43.htm

Mantle Diamonds was recently acquired by ASX-listed KDL for $6m in stock without any reference made to the early-stage Finland project so looks to have been discontinued.

[earnestwipplethwaiteiii] 05/4/2014 12:03

Andy, I recall EPD, which became KDD, which is now FDI's principle asset, had some acreage at Lahtojoki. I think they did a deal with Mantle Diamonds which went nowhere after 2008.

[andy] 05/4/2014 11:27

Interesting, but shouldn't this have been RNS'd to the market first?

I wonder what sort of"backing" they are referring to?
---

A Finnish mining company has filed the necessary papers seeking government approval to open a diamond mine in that country. If approved, it would become the first diamond mine on the European continent.


According to Yle, the Finnish national broadcasting network, Karhu Mining, with backing from the British firm British Firestone Diamonds, has filed for a mining patent survey from the Finnish Safety and Chemicals Agency.


If approved, the next step would be an environmental impact statement.
The plans describe an open pit mine and processing facility at Lahtajoki, in the Kaavi district, in southeastern Finland.

Several companies were engaged in exploring for diamonds in Finland during the 1980s, and several locations were found to have deposits of kimberlites with clear and colorless diamonds present, many of good quality. The most abundant were found in this southeast region, according to the Geological Survey of Finland website.


Read more: hxxp://digitaljournal.com/business/business/proposed-finnish-diamond-mine-would-be-europe-s-first/article/379546#ixzz2y0REIJkk


Source

hxxp://digitaljournal.com/business/business/proposed-finnish-diamond-mine-would-be-europe-s-first/article/379546

[buywell2] 04/4/2014 13:05

Things are going to get a bit heated for FDI and SA miners methinks


Staple food prices to rocket

Wage demands to keep pace




Climate change is already affecting lives and will have catastrophic impacts if carbon emissions are not lowered now, warns the UN's climate body.
Maize yields in Southern Africa are predicted to drop by a third by 2050. (Getty)

A new report by the United Nations Intergovernmental Panel on Climate Change has painted a world where human civilisation will struggle to survive unless carbon emissions are cut urgently. The impacts if nothing happened would be "severe, pervasive and irreversible", it said.

"Nobody on this planet is going to be untouched by the impacts of climate change," Rajendra Pachauri, the head of the panel, said.

The 2 600-page report, titled "Climate Change 2014: Impacts, Adaptation and Vulnerability", is the second one in a trilogy after last year's report said there was a 95% "certainty" that humans were driving climate change. It takes information from 12 000 peer-reviewed articles and 300 scientists to give an idea of what risks are posed by climate change. Another report next month will look at solutions.

Changes were already being felt across Africa and the world. "African ecosystems are already being impacted by climate change, and the future impacts are expected to be substantial," it said.

The report said that average temperature increases across Africa would exceed 2°C by the end of the century, if urgent action was taken to reduce emissions. If nothing happened, that temperature would be met by mid-century, with a 6°C rise by 2100.

Hotting up
The projections for South Africa are similar – the coastal area will warm by at least 2°C, while the interior will warm by 6°C.

The key for the continent is to adapt to climate change while lowering its emissions. South Africa is responsible for the majority of the continent's carbon emissions as a result of its coal-intensive energy production. But most of the continent was vulnerable because its ability to adapt was low.

"Africa as a whole is one of the most vulnerable continents due to its high exposure and low adaptive capacity." South Africa had an advantage because it had infrastructure in place that could be "climate proofed", along with expertise in the sector.

In Southern Africa the impacts of climate change would be particularly harshly felt when it came to agriculture and rainfall. All crops would be impacted, with maize yields predicted to drop by a third by 2050. More frequent droughts would wipe out cattle herds – something which is already happening locally with prolonged droughts in North West and the Northern Cape. For the poorest this meant they would not have the ability to recover from shocks as they already had little.

This theme runs throughout the report; the poorest are already feeling the impact of climate change with food prices, and will continue to be the most heavily impacted because they have few ways to adapt. The Millennium Development Goals, which seek to increase access to things like water and education, would be seriously undermined because of climate change. People would therefore be left in ever-increasingly vulnerable situations, becoming less and less able to adapt to an environment that was changing more and more rapidly.

Spread of disease
Dr Jane Olwoch, a climate change specialist and an author of the health impacts section, said climate change would lead to an intensification and spread in diseases. This would lower people's ability to survive other disasters and diseases and leave the population more vulnerable. The impacts would be widespread and pervasive – like people living in cities suffering greater heat stress, cutting productivity.

This was particularly relevant in Johannesburg, which is expected to warm by 6°C without the impact of urban heat islands, which trap heat inside the city's buildings and drive up temperatures.

In South Africa the most immediate impact would be with rainfall. The already water-scarce country will dry up, with an increase in rainfall only in the east and along the Drakensberg. But these rains would be more intense and infrequent, which would make it difficult for farmers.

The report tries to balance the possibility of catastrophe with what could be achieved if action is taken now. "Equitable socioeconomic development in Africa may strengthen its resilience to various external shocks, including climate change," said the report.

Professor Oliver Ruppel, a law professor at Stellenbosch University and an author on the Africa section, said South Africa's climate change response explicitly accepted the findings of the IPCC process. The findings of the body therefore had to be accepted and used locally.

Political action required
He emphasised the need for global and local political action to stem emissions now. "The problem we have now is that everyone blames someone else for the problem. If we don't find a solution, that's a problem." If countries did come together and prioritise lowering emissions, there was enormous potential in Southern Africa owing to the possibility for renewable energy. "This must be considered a win-win," he said.

The report, drafted over three years by scientists volunteering their time, drew 30 000 comments. Each one of these had to be catalogued and responded to. The final document, released on Monday in Japan, came after a further week of discussion about the exact wording of each document. Here country representatives could ask for tweaks in wording, on which the scientists had final sign-off.

Dr Robert Scholes, a systems ecologist at the Council for Scientific and Industrial Research, said the document had to be a call to action now. If it did not the world would continue on a path which ended in a climate system that was not inducive to human civilisation. "There is no sudden point, it just gets worse and worse," he said.

The climate change panel's reports have become increasingly more informative, and alarming, in recent years as climate change science fills in holes in knowledge. It is not prescriptive, so cannot tell governments what to do. But the information is used by governments to guide their thinking and planning to deal with issues that will be raised as the world warms and changes.

Penny Urquhart, an independent analyst on adaptation and an author of the report, said early on that aggressive emission reductions were needed. "We have a window of opportunity to avoid a 4°C increase, but it is closing really rapidly."

The timing of the report was critical, as it would be used as a basis for the international climate negotiations, which are to create a global plan to survive climate change. This has to be signed off at the annual Congress of the Parties in 2015 before being implemented in 2020. "Failure in Paris in 2015 is not an option and the report makes that very clear," she said.

[andy] 03/4/2014 11:23

Absolutely!

Still it was a good story at the time, sandwiched between the failures at Avontuur, Orange River, Groen River, and Bonte Koe!

Kept the pot boiling nicely until the BK11 reality check.

anyone that has red the first three chapters of "The Big score" will recognise the MO.

[earnestwipplethwaiteiii] 03/4/2014 11:04

With today's RNS, another resoundingly successful venture from the people that brought you BK11 comes to a close.

[andy] 03/4/2014 10:50

gobby,

Looking pretty much like there's only a few of you left now!

What a waste of an RNS, and not sure they ere even obliged to put that out to be honest.

I actually thought they might be announcing some real news, but that's not the MO here at all, or hasn't been up to now.

[gobbyash] 03/4/2014 10:20

Anyone still here or am I holding this on my own? :-)

[bam bam rubble] 09/3/2014 14:59

Interim results showed grade continued to deteriorate in the mine's final months;

Year Tonnage Grade
2011: 0.28MT @33.2*
2012: 0.58MT @29.1
H1'13 0.33MT @25.3
H2'13 0.20MT @21.5

*Nov 14th 2011: "Mining operations are now focused on K5, the highest grade unit with average resource grade of 45 cpht. As the K5 will be the primary focus of our mining operations over the next two years, it bodes well for continued increases in grade."