Firestone Diamonds Share Discussion Threads

[superg1] 07/12/2017 14:09

It's a bit odd that they found big stones in the feasibility studies and virtually none when they seriously ramped up.

Bad luck or porky pies re the broken big stones recovered. I can't help but wonder.

I did warn re 55p and it was too high based on the lower grades that were going to come as they were doing tailings etc. However this is unbelievable compared to the feasibility studies. ???

[pottermagic2310] 06/12/2017 15:24

3 new ordinary shares for every 26 existing ordinary shares held at a cost of 10p per share

[abtwo] 05/12/2017 10:45

Shareholders better hope that the K5 ore delivers the big, high quality diamonds as this is what FDI is targeting - the other ore units all have the same $/tonne value based on FDI's technical report and this is what they say they have been mostly mining to date.

[pottermagic2310] 04/12/2017 23:49

Yes... can't convince myself not to... I'm sure there's a way to break even in the near time and get out relatively unscathed.

[buywell3] 04/12/2017 18:04

buywell3 - 18 Jul 2017 - 15:38:40 - 2781 of 2932 Firestone Diamonds discussion thread - FDI


darkside it is coming I fear

[tanelorn] 04/12/2017 14:25

holding divided by 27 ? x 3,,,,,, so example holding of 200k = 22,222 shares @ 10p,,,,,, is that correct,,,, and do shares held via nominee qualify?

[andy] 04/12/2017 12:58

potter,

Are you participating in the placing?

[pottermagic2310] 04/12/2017 11:48

Yep... I think the multiple Forecasts presented are a clear indication that we're at the bottom end and we only move to the middle ground if quantity & QUALITY improve very consistently over a sustained period.

We're being advised... "it doesn't look good, it may not get any better but there's a 50:50 chance at best of reaching the middle ground, which might be to your benefit from the current (low) position if you choose to stay with and invest some more with the aim of reducing your current substantial losses"

I've decided to take some up at 10p and forget all about them with the only aim of breaking even in a year or two.

DISAPPOINTING

[abtwo] 04/12/2017 09:43

Looking at the recent FDI report I now feel that even recovery of the occasional large / high value diamond will not help their revenue problem.
Seems to be that both the recovered grade and run of mine diamond value is much lower than "assumed"!!

[tanelorn] 02/12/2017 16:35

Just waiting for Luc to buy us out,,, sniff, gutted,,, but hey ho.

Nice to hear from you MF

[markfrankie] 01/12/2017 23:47

Hi tanelorn, feel bad for you lot, things *can* get better, good luck,
Tanelorn your always welcome back at Luc

[pottermagic2310] 01/12/2017 22:41

The biggest risk now is that there simply aren't any truly valuable Diamonds to be recovered at all... who knows ?

[andy] 01/12/2017 20:36

We hope!

If it drops to 10p I'll join you for a few.

[pottermagic2310] 01/12/2017 13:38

I'm gonna have to give it another go at this depressingly low share price .. in for a penny, in for a few pennies more
:-(



The only way is up !!!!!!
;-)

[tanelorn] 01/12/2017 12:33

Looks like the company will survive

[earnestwipplethwaiteiii] 01/12/2017 10:52

Andy - likewise; today's news knocks this on the head for me once and for all. A 49% discounted offer is miserable, and it remains to be seen in the uptake how much residual faith there is in the management and their business plan.

[bigglesbingham] 01/12/2017 10:43

Hate these open offers , it does no one any favours. The price drips down to the offer price and the private investors tend to buy in for a quick buck which depresses the share price as they sell. This will hit 10p quickly then stay there for at least three months as the investors who buy at 10p drip into the market. Ridiculous discount but shows how desperate they are. Ironically they could have got money at higher price from major shareholders as the consequence would be the company goes bump which the major shareholders would not have let happen. This company is ran by the two corporate shareholders which is a worry. On a positive note the company should now survive and give it time to fund the big diamonds which we know are there.

[andy] 01/12/2017 10:22

earnest,

Agreed, good post.

I was waiting to buy in at around 15p on the recent drift, then it showed a bit of strength so held off hoping for another dip to buy into, now this!

This is a serial disappointer, people will lose faith with management now for sure, IMO.


Phoenix,

Yes thanks, will do.

[earnestwipplethwaiteiii] 01/12/2017 10:18

My sympathies to current holders from an erstwhile holder many moons ago. This is an awful result. It seems the business was predicated on finding a sufficiency of large and rare stones, which is where the serious money is, and this hasn't transpired. They may blame the weakness of the diamond market and disruptions from India too, but these are recurring phenomena. The big story is how they could have got the occurrence of rare fancies so wrong.

[astjgroom] 01/12/2017 10:13

All very dissapointing, will average down n wait for a bounce, n exit, hopefully on the next big diamond find, if they ever find one again

[phoenixs] 01/12/2017 09:23

andy,very bad news as we can all see.

I have never suggested on another board to look at a stock but do have a look at Versarien (ticker VRS).

[chapchip] 01/12/2017 08:48

close the door on the way out!!!!!!!!

[rollthedice] 01/12/2017 07:34

Ouch placing @ 10p (49% discount to closing sp)... a real kick in the nuts for lth.

I've been sitting on the sidelines since selling in April @ 48p+ but this latest fiasco strikes FDI from the watch list too at least for now. I had thought FDI was a well run outfit but this panic placing just smacks of a lack of contingency planning.