Firestone Diamonds Share Discussion Threads

[andy] 04/6/2013 17:50

Wow,

First post in two weeks!

Thanks for blowing the cobwebs off!

[buywell2] 04/6/2013 17:47

Chart set up for another leg down

[earnestwipplethwaiteiii] 21/5/2013 10:25

Andy - yes, that was pointed out on the L S E thread too.

[andy] 21/5/2013 08:44

A comment from the other thread.


tradermel
20 May'13 - 08:01 - 10524 of 10530 0 0

Well that is a rather interesting RNS today.

Bank loan and no dilution, did not think I'd read an FDI RNS stating that
--------

Sorry but a forward sales contract is another form of dilution, as clearly there has to be a benefit for someone putting up the cash, and that means a loss to the shareholder.

Even debt is dilution.

[andy] 20/5/2013 14:18

Interesting RNS, but ss usual, an FDI RNS raises questions.

No mention of who the bank in question is.

Advance sales contracts concern me, as obviously there will be some loss as a long term trailing price will be used, and then discounted, to allow a margin of safety, I would imagine.

And of course, the inevitable fundraising! It was obvious that funds were probably running low, and now it has been confirmed.

I would like to know the name of the forward sales partner!

The burn rate is clearly a concern here, IMO.

[buywell2] 20/5/2013 13:44

Thats $6m then sorted ..... only another $161m needed


Costs don't stand still though so a year later add inflation say 5% to the original $167m and thats over $8m = $175m


So only another $169m needed

[spaceparallax] 20/5/2013 13:20

methinks Queeny doth protest too much

[mr keeny] 20/5/2013 12:34

Very far from good news and a simple case of putting out supposed funding news which should have been concluded long before now.

Its all a non event, simply delay tactics before the inevitable pop.

[spaceparallax] 20/5/2013 10:55

Good news, presumably the banks have faith.

[varrirob] 20/5/2013 10:33

tradermel - Ditto. Still a way to go yet BUT it looks like there is some positive news at long last.

[tradermel] 20/5/2013 08:01

Well that is a rather interesting RNS today.

Bank loan and no dilution, did not think I'd read an FDI RNS stating that

[buywell2] 18/5/2013 07:24

Andy

Off topic but in the interest of money and its uses .... and the sharing of info with other advfn posters

I have posted before about Source BioScience (SBS) and Cyprotex (CRX), 2 small cap Pharma Biotechs but both profit making which is rare)

In the last week or so things have been moving in a good way for both

Cyprotex (CRX) won a 5yr , $11m contract with the Environmental Protection Agency (EPA) in the USA where it has a lab (HQ and other lab in Macclesfield). By far the biggest ever contract. A few weeks prior Henderson global bought 7% in CRX to become the first Major Institutional investor. The share price ran down after this news which of course was stupid ... over the days that followed 4 , 1m trades were made that never moved the share price .... then on thursday 31m shares in 4 blocks were traded which moved the share price 0.25p to 4p.

RNS's will come out either Mon or Tues to say who has been buying.

As you know I like charts , I did this the other week to check out chart support on the price dip .... which a savvy investor would have added on ....the share price is now 4.25p , the chart looks set to head towards the top red in my opinion



The EPA contract together with the Pfizer contract should now ensure that turnover for 2013 is OVER £10m giving profit of near on £1m





Source BioScience (SBS) since I mentioned them on here about a year back several Major Institutions have bought or increased their stakes including Henderson Global

TD Direct Investing (Europe) 21,000,000 ...... 10.0
Henderson Global Investors .. 12,095,215 ..... 5.9
Mr S Varkey .................. 3,522,581 ..... 1.73
Seren Capital Manag't ....... 10,675,000 ..... 6.6
SBS Directors/Snr Manag't ....14,222,897 ..... 7.38
Killik & Co LLP ............. 10,586,131 ..... 5.20
Blackrock Inv't Manag't ..... 10,715,000 ..... 5.26
Legal & Gen Assurance ....... 16,637,876 ..... 8.16
Barclays Bank Plc (Pvte Bing) 9,300,000 ...... 4.2%
Standard Life Investments .... 9,500,000 ..... 4.66
Swedbank Robur .............. 6,000,000 ...... 2.94
Talos Securities Ltd. ....... 5,900,000 ...... 2.9%

64.92%


Re Cyprotex it would not suprise me to see some of the above SBS Institutions taking a stake as I have been making a case and lobbying some. I want the two to collaborate in several areas.

Re Source BioScience ((SBS) , they just gave a Market Update last week showing a 30% average turnover increase( 2 divisions , 25% and 35% up) , in the first 4 months of this year , this projects to over 20m turnover and 2m profit for 2013.

Also in the last week or so SBS have acquired their 4th company paying cash , in Scotland this time. This alone is expected to increase revenue by 19% , it is profit making, as has been all the others, and since it makes and sells products into the NHS and Pharma Bio marketplace , SBS will be able to sell their products via their very sophisticated website and worldwide network of agents , appointed over the last 2 years from next to nothing.

After much pushing SBS have also started acquiring their own IP which means Margins should grow from current circa 45% to 50% , the latest acquisition also gives them the opportunity to have products CUSTOM MADE to suit clients needs and also to supply products via their LifeSciences division that can be/are now made 'in house' rather than bought in.

The share price has remained stuck in a rut following the latest news. Which once again one would not have expected. So I also expect Institutions to be adding if weaker PI's sell ... though their numbers are now dwindling.

SBS also provide the equipment(on lease from Illumina ) and the consumables , training and support for 50% of all Cervical Cancer Screening in the NHS in Wales and England and NI . Nothing in Scotland though that could change due to the latest acquisition. The other company that has the other 50% is Hologic , Mkt Cap $5.7 Billion

SBS Life Sciences division is duplicating to some extent what ABCAM do , Mkt Cap 847m and a P/E of 32

SBS has a Mkt Cap of £19.5m and a P/E of 5.7

The SBS chart suggests 15p is on the way within a year



I have not mentioned before Xenetic Biosciences (XEN) , this is yet another Pharama Biotech that has evolved a very interesting way of de-risking it's business model to conserve it's cash pile by partnering with the state of Russia , via RUSNANO , who have chosen to use XEN technology platforms to base their new Pharma Biotech industry upon.

Rusnano along with another Russian company called Pharmsynthez to PAY for and CARRY out the clinical tests on drug candidates they are developing. Several are now in stage 2 and stage 3 clinical trials , others due to start or have just started.

Positive RNS newsflow re trial outcomes has just started to flow from XEN after a drought of nearly a year. Many more RNS's are on the way.
XEN are due to open a USA lab soon , very close to that of Cyprotex in Boston.

The FDA have granted 'Orphan Status' to a drug which XEN plan to commence trials on there .... this could attract USA investors

One USA investor has got involved in another way as XEN shares are tightly held


The XEN chart at long last is also starting to perk up ... resistances could soon get taken out with anticipated positive newsflow

[buywell2] 17/5/2013 15:32

What for SHFT ?


SHFT profit warning out today ... and the shares slide lower

The South African labour situation remains tense as the current year wage negotiations are due to begin next month.

South African Operations

Lonmin has again been impacted by an illegal strike by its employees. Whilst our contract protects us, as experienced previously, we could again suffer efficiency losses which may negatively impact margins.

At the Impala 16 shaft the Group's contracts at the Main and Ventilation shafts will come to end by the start of June 2013. The historical low rates and underperformance at this project have resulted in margins being negative.


For the period under review, revenues at the Impala 17 shafts are slightly behind expectations by about 5 per cent due to the ramp-up in the construction of the capital infrastructure development on lower levels, taking longer than expected. As a result of client changes to the remaining scope of work management is working towards a contract that more fairly reflects the complexities of the project.

Revenues at Royal Bafokeng and Anglo Platinum's Styldrift No. 1 shaft are slightly behind management's expectations due to the start-up of development work resulting from scope changes.

Work at the Hernic shafts is to be retendered, due to the client's requirements to generate cost savings, in the first half of the current year, which may result in slightly lower margins in the second half of 2013.

At Afplats' Leeuwkop shaft revenues and margins have slipped by about 40 per cent due to a series of work safety related stoppages.

[flotsome] 17/5/2013 12:34

charles stanley buy tp 6p

[buywell2] 10/5/2013 17:17

Western capitalists to get shafted ?

[bigglesbingham] 08/5/2013 22:04

Does anyone here concur with the following: debt raise will be limited to 75%, fdi need to raise 30-40 m via alternative means. Part of this would be to hold an auction with quality stones, none have been sold in last 6 months, many must have been found, a number of huge stones broken and parts kept back - it's what I'd do. Then a deal on future production and last but by no means least a small equity dilution. Don't get embroiled with salaries. If Kenny was cute enough to negotiate the payout then so be it and hat off to him. Look at the bigger picture, the powerhouses behind this company are experts in funding resource projects. That's why I'm in. The current production (of rough diamonds) serves to give cash flow and breathing space, while the moves are made behind the scenes. As I said in a previous post I believe the next 4-6 weeks will be transformational in this company. Im sure the brokers are beginning to be approached with the story. Then again I could be wrong -- pays your money takes your choice.

[earnestwipplethwaiteiii] 08/5/2013 20:55

Legal robbery!

[andy] 08/5/2013 20:39

Bam BAm,

Given the renumeration he received whilst in office, and the collapse of the shareprice, those figures simply beggar belief IMO!

[bam bam rubble] 08/5/2013 17:22

FDI are still forking out hundreds of thousands to the long since departed Philip Kenny.

from the 2012 annual report:
For the six months up to resigning Mr Philip Kenny withdrew $215k from FDIs cashpoint as salary and pension plus $750k 'compensation' on retiring. Philip also put in a claim for $1.155 million of additional fees supposedly accrued in previous years still outstanding. To part satisfy that he got $240k worth of shares in July 2012, which were promptly sold. For the balance FDI has agreed to make regular cash payments to Phil up to Dec 31st 2013.

Philip Kenny's leaving present:
Bonus (paid in stock) $240,000
Bonus awarded upfront $750,000
6 months to Dec 2012: $305,000
6 months to Jun 2013: $305,000
6 months to Dec 2013: $305,000