Firestone Diamonds Share Discussion Threads

[tanelorn] 27/9/2018 14:02

Broker houses send their wet-behind-the-ears, '1st years' to attend, and accordingly the questions they ask are timid and puerile, no risk taken, as they haven't researched.

Last time it was the private investors who asked 70% of questions.

[andy] 27/9/2018 11:28

Varrirob,


If only they were as good at mining as they are at spinning!

Hope to see you there.

At least there will be 3 attendees, I doubt there'll be many more unless something good happens soon!

[varrirob] 26/9/2018 21:59

Yes, for what good it does I will probably go. Hopefully we will get to see Stuarts replacement and see what spin he can put on things.

[andy] 26/9/2018 14:08

Good, I may see you there.

Varrirob usually goes as well.

[tanelorn] 26/9/2018 13:09

Probably me.

[andy] 26/9/2018 08:42

I wonder if they'll hold the AGM during Mines and Money this year?


Is anyone planning to attend?

[tanelorn] 26/9/2018 00:49

edward family trust probably is close to the bone,,, but agree

[andy] 25/9/2018 18:59

tanelorn,


The stock is illiquid, so the big guys can't sell!


They are stuck with us mushrooms!


But at least it's not their personal money.........

[tanelorn] 25/9/2018 16:51

I'm not going to re-research my initial figures for this bulletin board, but

a) The feasibility study was a combination of SEVERAL studies, not one
b) The initial trial mine dug up one million tones of earth and did circa 32 cpht with many broken larger stones due to 'it's defective milling'.

We and the larger investors are asking questions, but it's the bigger guys who get answers, we sit, legs dangling over the precipice who have to live like mushrooms.

nb, The reason the bigger guys haven't sold is why? why now lose your hope when you've lost millions already.. Still hope abounds, or maybe a buyout, anything is better other than total collapse. edited

[astjgroom] 25/9/2018 16:29

How could the new mine plant be defective? It's new? Set up wrong?

[tanelorn] 25/9/2018 14:56

lets be honest, if the company produces 32cpht at us$ 85 it might survive,,, we are gong to get 25 and 70

So poor compared to the massive borrowing based on 32-35 at 107 to 132,,, feasibility studies were wither wrong or as i suspect the mine plant is defective.

I still hold, no point in selling.. lost already.

Always hope for the best, but good news is preceded by 'insider informed buys',,,, not happening.. Speaks volumes.

[tanelorn] 25/9/2018 14:50

Company priced for collapse,,, it's flucked.

[astjgroom] 25/9/2018 12:13

Your both right. We only need one big diamond. I'm sure they are there somewhere.

[tanelorn] 25/9/2018 11:58

No director buys during the slide down, and still non(e). We passed through and out of closed periods, still no buys... We are all now hoping for a miracle,,, well at least 20p,,, seems unlikely.

[andy] 25/9/2018 11:25

ast,


Sadly director purchases at much higher prices do not always equate to success!


It does seem directors can be as guilty of believing their own optimistic forecasts as shareholders!

[astjgroom] 25/9/2018 10:44

Correcto mundo. However some of their directors also bought heavily at a much higher price. Results tomorrow I think, fingers crossed.

[buywell3] 24/9/2018 19:01

Such destruction of shareholders funds takes some doing

But FDI seemed to have pulled it off in spades


















note

Not Diamonds

[andy] 23/9/2018 23:20

mdalos,


If it does drop to 3p, and you really believe, surely that would be a good thing so you could load up at that low price?


The sell off doesn't look good though, does it?

[andy] 22/9/2018 00:58

Dave,


Many thanks, and now synthetic diamonds are such good quality I'm not surprised people are buying them, they offer so much better value for money, and the casual observer cannot tell they weren't mined.


De Beers have run a brilliant marketing campaign, but maybe people are finally waking up?

[davethehorse] 21/9/2018 22:28

Real diamonds losing their sparkle among millennials, claims BerenbergShare 11:34 20 Sep 2018A survey of 2,000 millennial women found that synthetic diamonds are becoming increasingly popular among the younger generation, who don't care to spend hundreds of pounds of real diamonds?Berenberg is "relatively cautious" on diamonds miners, particularly those which don't produce bigger stonesBerenberg thinks diamonds are losing their sparkle among the younger generation, with millennials instead preferring cheaper synthetic diamonds.The revelation came as the venerable German investment bank kicked off its coverage of four companies in the sector with two 'sell' recommendations, one 'hold' and one 'buy'.Synthetic diamonds increasingly popularAnalysts noted that the supply glut is gradually reducing although they still expect supply to well outstrip demand until 2022.Perhaps the biggest worry for the diamond miners is that millennials seemingly aren't bothered about forking out hundreds of pounds for real diamonds when they could get synthetic ones for a fraction of the price."While there is still a market for natural diamonds, particularly in growth markets such as India and China, millennial women are open to synthetic diamonds, with price a key consideration," read the note to clients."We think that synthetic diamond demand in lower price point items will continue to grow and cannibalise demand for natural diamonds (we calculate US$3.7bn by 2030E); this is likely to impact smaller diamond demand and prices, we think, and this is not helped by a flood of new smalls inventory onto the market."Lucara and Firestone get 'sell' ratingsReflecting the "relatively cautious" stance on the sector, Berenberg has gone against consensus to kick off its coverage of Canada-listed Lucara Diamond Corp with a 'sell' recommendation.The analysts reckon the market has been "blinkered" by the recovery of two very large stones which were sold in 2016 and 2017. Take these out of the equation, they argue, and consensus revenues look too high.Berenberg's other 'sell' rating is reserved Firestone Diamonds PLC (LON:FDI), which it notes produces a lot of small diamonds, "relative losers versus larger stones". Its target of 3p is some way short of yesterday's 5.1p closing price.More upbeat on Petra and Gem DiamondsThe bank is slightly more upbeat in its outlook for Petra Diamonds Limited (LON:PDL), which it has a 'hold' with a price target of 40p."We do not dispute that Petra offers relatively attractive valuation here and an improving story – we are even believers of the long-awaited FCF inflection," said the analysts."But for now, we think that the market is not yet convinced by operational progress, and would prefer to wait for management to deliver a couple of solid quarters and show the progression of reducing net debt."There is room for one 'buy' recommendation though, and that is reserved for Gem Diamonds PLC (LON:GEMD), which analysts reckon could go as high as 140p.They said they liked the stock because of its "self-help story, large stone exposure and attractive valuation".

[davethehorse] 21/9/2018 22:03

Prob reason for yesterday's price drop issued on ThursdayFirestone Diamonds: Berenberg reiterates sell with a target price of 3p.