Firestone Diamonds Share Discussion Threads

[ifthecapfits] 13/4/2016 11:36

Perky today!

[superg1] 06/4/2016 22:19

I take the $30 mill to be the get it running costs but good if Fdi get some cash for what they have chosen to abandon. I genuinely think Tango are just playing a game and will be surprised if it goes through. It's small fry compared to the Lesotho mine are largely irrelevant. That said any cash is better than nothing and avoids rehabilitation costs.

FDI pre production looks a fair bet and I had been mentioning it elsewhere for those interested in diamonds. It looks like you have a bit of profit taking now and a retrace before the next step up. I'd be surprised if you weren't higher when production is imminent.

[andy] 06/4/2016 17:36

Superg1, Earnest,

I agree with your posts, it seems hard to believe FDI could mothball something as "uneconomic", and then suddenly it's worth $30 million!

And in this market that is a lot of money!

One of the directors is a well connected financier in Switzerland, so if they can't raise the money between them, it tells its own story.......

[woodpeckers] 06/4/2016 12:05

Is there no timescale on starting before having to hand it back as far as the government are concerned? Just trying to draw comparisons with Lucara and Mothae. I would think FDI will want to draw a line at some point due to ongoing costs involved.

[earnestwipplethwaiteiii] 06/4/2016 10:06

superg1 - BK11 has been hung out to tempt the unwary for years. Nobody's been able to make anything of it despite attracting a succession of chancers, the Kennys being but one example. This attempted sale is their legacy to FDI. I don't expect it to complete in existing form, they'll probably wait a while and look for another mug.

[superg1] 06/4/2016 09:57

Tango looks like a dud. CEO and others resigned end of 2015. In recent news let investors believe this would be done by 8th April and did Lucara comparisons !!!!!!!.

That is a company full of BS it seems, looking at tango posts the silly sods were pumping it like mad (post $30 mill news) where there was obviously no chance of it being completed by 8th April. I won't be surprised if it doesn't happen the company need the hype due to their circs.

IMO best to ignore the Tango factor and take it as a bonus if Tango complete, odds are against it IMO.

[superg1] 06/4/2016 09:11

Earnest

The Tango $30 mill news has been out for a few days. The message seemed clear in the Tango news that it would be some weeks before it's completed, hence I posted that FDI would IMO need to extend the deal while Tango finalise their funding.

They could of course not extend it and simply hand the licence back but not a sharp move when Tango have found a backer. It's not a big in the overall picture but nuts to turn away from it.

Edit

Having rechecked the Tango news it will obviously be many months before it's finalised. Looking at the asset itself in that news it looks very poor to me so why anyone would want it I don't know especially in this market. I suppose a look at Tango may explain the confusion. If that is there main hope then I can see why PR (and SP) wise they would chase it.

[andy] 06/4/2016 07:54

Earnest,

Ok it seems the "drop dead date" can be extended ad infinitum!

[earnestwipplethwaiteiii] 06/4/2016 07:42

After today's RNS, I wouldn't be so sure of the $8m - can kicked down the road again, Tango given more time - it's all so familiar.
Still, there's dymons in them thar Licqo hills, ain't there?...

[woodpeckers] 05/4/2016 20:45

superg, thanks for that info re Tango, hadn't spotted it. Great to hear we can expect $8m more in the bank before too long, guess we can expect an RNS by Friday to say they are ready to complete or soon will be.


New interview today with Stuart Brown, no mention of the deal.

[andy] 05/4/2016 17:52

earnest,

It became their flagship when Bonte Koe failed and they needed something else to promote to the market to save the shareprice from crashing.

Had I read "The Big Score" before I would have known the signs.

In hindsight, there were so many red flags.......

[earnestwipplethwaiteiii] 05/4/2016 14:59

Which would be ironic, given it was their flagship way back when.

[andy] 05/4/2016 14:01

Superg1,

It's incredible that FDI mothballed BK11 as "uneconomic", yet Tango can raise $30 million to buy it!

Either Tango are buying a pup, or FDI lacked the expertise to develop and run BK11.

[tanelorn] 01/4/2016 20:43

varribob > sent you a positive message..... or two

[woodpeckers] 31/3/2016 09:57

Tango are cutting it fine if they still intend to buy BK11. Does anyone know if the same situation applies in Botswana as it does in Lesotho whereby we will simply give the mine back to the government and leave them to find someone to develop it?

[andy] 30/3/2016 18:29

ifthecapfits 23 Mar'16 - 15:38 - 2442 of 2443 0 0

Wonder if we can get to the dizzy heights we once held.

-------

Is that pre consolidation?

There's a long way to go if that's the case!

[ifthecapfits] 23/3/2016 15:38

Wonder if we can get to the dizzy heights we once held.

[ifthecapfits] 23/3/2016 14:07

kerching!

No idea WP....

[woodpeckers] 23/3/2016 13:49

Hi chaps, new to this one, wondering if the share price action could suggest that they are in the running for Mothae? It would be an obvious move bearing in mind the proximity of the two mines. Anyone any thoughts on this?

[buywell2] 17/3/2016 17:13

buywell3
30 Jul'15 - 08:27 - 2321 of 2436 0 0

Looks like 25p coming chartwise for now then , then 20p might get a visit