Firestone Diamonds Share Discussion Threads

[tanelorn] 03/7/2017 19:03

I love your eclectic thoughts !!!

:0)

[buywell3] 03/7/2017 16:56

bllackness it is I see

[ifthecapfits] 03/7/2017 16:47

Just need some news on what they are finding....

[buywell3] 03/7/2017 16:47

time for me is nigh , the darkside comes

[bigglesbingham] 03/7/2017 16:33

About time for another 100 plus carat find me thinks

[tanelorn] 24/6/2017 00:14

Hi Pottermagic2310>
(edited)
1) I suppose i wish they hadn't needed to cover themselves, but maybe there is a significant delay between auction sales and receipt of funds? ( they refer to receipt from the first auction, but they have now just completed their third ). There is also a suggestion that further capex maybe desirable on plant mods., that being the case then wriggle room is wise?, i don't think they will actually use the facility ..
2) Proactive investor released a nice little article,,,
3) My opinion on early break-even is a very basic rough calc., but i think it's 'good'.
4) I do agree that since Aprils downgrade on carats in the first year, to then reverse it, a 20% uplift in only two months seems very positive.

[pottermagic2310] 23/6/2017 18:35

What do you really make of the decision to extend the Credit line and the way in which is being orchestrated ?
If 'break even' is already being achieved, why extend the Credit & related timescales at all ?
Still find this puzzling
:-(

[pottermagic2310] 22/6/2017 11:24

If you read all the fine detail, what this actually amounts to is that the Creditor, via a complex instrument is positioning themselves to hold 30%+ of the Business and as such would have to make an Offer to all other Shareholders.

This essentially could mean 1 of 2 things, assuming all Rights are exercised:

1) They make a derisory offer BUT the Board recommend it and because we PIs are minnows, we lose our shareholding with little or no Profit available to us

2) They make a reasonable offer and everybody's happy

What bothers me generally about this Event right now is that (as suggested elsewhere) there appears to be no urgent or real reason to "take advantage" of the Loan facility at all and no real reason to "extend". The main beneficiaries appear to be the Creditor, particularly if you explore the further consequences as I've laid out above

?????????????????????? - feeling unsure about the future now
:-(

[bigglesbingham] 22/6/2017 08:04

Hope that's case, just had some nightmare issues with companies I hold so presumed worse!!

[kiwoz48] 22/6/2017 07:57

No issues here, management are just being prudent. In a good place me thinks.

[bigglesbingham] 22/6/2017 07:29

Yea not familiar with this type of deal. Surely a facility is just that-a facility. A loan is a loan. So they have effectively taken a loan of $5m and facility of $10m. Weird.

[rollthedice] 22/6/2017 07:24

I read it that new standby agreement was conditional on this drawdown being taken. 8% pa is a hefty price to pay for money that may not even be needed though.

[bigglesbingham] 22/6/2017 07:15

360000 vs 300000 is good news. They imply the extension of Liam facility was dependent on $5m drawdown - I don't understand this? This was a facility in place in case of emergencies therefore why take $5m ? Why not leave the $15m as a facility? The providers are getting $300000 2% for providing it. Anyone shed any light on this rns. It can be taken two ways - one production better than expected and they just want a little wriggle room or two then haven't earned what they thought and had to draw down. Sure market will tell us at 8. !!!

[tanelorn] 20/6/2017 16:04

4th quarterly results upto year end (30th June), reported circa last week in JULY

[ifthecapfits] 20/6/2017 13:38

When do we expect the next update to come?

[pottermagic2310] 15/6/2017 13:59

If this goes below 40p, got to get in for some more I think

[bigglesbingham] 15/6/2017 09:51

Had to have a tickle at this price

[bigglesbingham] 14/6/2017 11:28

Need a big diamond rns to stop the rot

[bigglesbingham] 13/6/2017 19:04

Possible cheers

[tanelorn] 13/6/2017 12:46

F.I.L. LTD reduced it's share holding below 3% and no-longer needs to disclose 1% drops in holding, my guess is that SUSTAINABLE CAPITAL LTD are buying the shares in pre-agreed tranches, thus little net change on share demand, thus no change in share price Just my opinion.

[bigglesbingham] 13/6/2017 10:37

What is happening here? 1m buys and drops??

[bigglesbingham] 03/6/2017 12:50

This share doesn't seem to react to strong buying.

[pottermagic2310] 30/5/2017 11:14

What superg1 said !
;-)