Firestone Diamonds Share Discussion Threads

[davethehorse] 07/12/2018 10:01

Now 200k bought and no rise in SP? Something fishy here...

[davethehorse] 07/12/2018 09:35

Some desperate selling below the bid yesterday and today.

[abtwo] 07/12/2018 08:23

Not even a cat to bounce!

[tanelorn] 06/12/2018 16:38

Yep, dead cat bounce to follow!

[davethehorse] 06/12/2018 16:30

In freefall...low volume but MMs dont want em it seems.

[abtwo] 06/12/2018 11:46

@mdalos1:
There will always be breakages and FDI will be monitoring this in conjunction with their diamond valuers/sellers.
If some big gems had been crushed recently then even the pieces should have helped bump up the overall sale price - we have not seen this.
What would be of more concern would be if the diamond recovery equipment was not recovering the Type IIa diamonds, so let us hope they are auditing their tailings using a different recovery method!!

[buywell3] 06/12/2018 01:17

This is my last post on this thread .. badbye .. I think FDI is for the knackers yard


This was my first

buywell3 - 30 Jul 2015 - 08:27:20 - 2321 of 3383 Firestone Diamonds discussion thread - FDI


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

[tanelorn] 05/12/2018 13:16

Amulet is funding the building and operating of a bulk sampling plant at BK11 during the period to further assess the deposit. The option period, Firestone said, has now been extended to December 31 next year. (2018)
Firestone said Amulet has made "steady" progress on the plant but due to unforeseen
equipment delivery delays the latter asked for an extension to the option period.

Guess this option is also due to expire,,,,

Stony silence, did anyone discus this at the AGM?

[davethehorse] 05/12/2018 11:35

I think it took GEMD a while to find any decent stones and FDI could be the same. They need cash though and GEMD have it so just thought with both mines being close it could be a good fit.

[davethehorse] 04/12/2018 22:48

FDI looking more and more a takeover target for a fellow miner, GEMD would fit the bill being cash rich after a good year.

[tanelorn] 04/12/2018 21:30

Yes, there's no doubt the debt hangs over this company, the fact that the price is the value of one good sized type2a stone says it all.!!

[abtwo] 30/11/2018 10:43

@mdalos1,
Yes, the deposit always had a majority of low quality/value diamonds with a scattering of coloured and clear ones as well - hence the low prices that have always been there since even EPD started mining the main deposit.
With bulk samples it is easy to predict the size of diamonds recovered but predicting the occurrence of the less frequent high quality diamonds is very hard without processing many millions of tonnes.
Well FDI have now processed many millions of tonnes and it is not looking good on the quality side hence the continued low price but the more they process the more likely they will find the rare high quality diamonds - just they bleed cash in doing so.
I guess the grade they are now getting compared to that predicted is also lower as they decided not to go after the small diamonds as it probably cost more per tonne to recover these than they are worth.
So wish them luck as that is what is required!

[andy] 29/11/2018 20:28

Varrirob,


Thanks, hopefully we can all go next year and the price is higher by then.



Mdalos,

Yes, the grades are clearly lower than they anticipated, and prices are also lower, so a combination of the two is currently going against FDI.

[varrirob] 29/11/2018 20:11

Unfortunately Andy, some people are never happy. I certainly know a few of us on this board have been to an AGM and I appreciate your feedback. It may not be what I want to hear but we all take calculated risks when it comes to investing.

[tanelorn] 29/11/2018 17:30

Andy >
Thanks for attending,,, did they have any hope that the grades might improve with depth, or r thay just waiting for supply and demand to sqing in their favour?
Regards
Tan.

[andy] 29/11/2018 15:59

Ab,


That's very possible I guess, we will never know for sure.


Maybe they thought world diamond prices would rise and they would be OK?

[andy] 29/11/2018 15:56

buywell,

Well I invited you to do it some hours ago and you seem most concerned about it.

I now go and ask the CEO for you, and now you're getting stroppy with me?

Why don't you bother to turn up for the AGM then you can ask him yourself instead of criticising others that actually do bother to turn up. I wish I hadn't asked him now, you seem to know all the answers already.

[buywell3] 29/11/2018 15:51

my fudge comment stands

He said there is no exact answer as the exchange rate RAND v US$ and growth have to be taken into account.


Do us a favor andy and do the maths ... break-even diamond price ... I know you can do it

My guess is it will be more than $100

[abtwo] 29/11/2018 15:47

Thanks for all the AGM info @Andy.
Yes, they are not fudging the figures now as they cannot do so however, they must have fudged the figures in their revised Feasibility Study to come up with a diamond value of US$110. But without that figure they could not "sell" the project to get finance. Now they have to live with this and the easy explanation is to blame it all on the diamond market, I think the "decline" from US$110 is probably 50% the market and 50% "fudge" in the study.

[andy] 29/11/2018 14:49

Buywell,


I bumped into Paul today, and asked him the question.

He said there is no exact answer as the exchange rate RAND v US$ and growth have to be taken into account.


As things currently stand it's around the current price, but could get lower if the rand fall further.

The cost of oil falling obviously helps I guess.