Firestone Diamonds Share Discussion Threads

[buywell2] 19/7/2013 09:41

The only ones that might get anything are the ones that have just put money in

However I doubt it ... though they might defend a price drop for a while thus giving folks an opportunity to exit if the want to

dyor

[andy] 18/7/2013 23:31

Varrirob,

I only have a few and not worth selling, so unless the share price rockets, they will remain until the bitter end.

I see little hope here, only more dilution in time.

[varrirob] 18/7/2013 23:18

So are you hanging it out to the bitter end then Andy? I am in a similar position. Sitting on too much of a loss and whats left isn't worth selling. I will continue to hold, watch from the sidelines and hope that something gets salvaged from this mess.

[andy] 18/7/2013 12:37

Tony,

Sorry for your loss, I had a painful lesson here too, only a few left and not worth selling.

When you look at the salaries paid to management over the years, and the shareholder value destruction, this stock is the epitome of all that is wrong with the AIM market, IMHO.

Good luck.

[tony150] 18/7/2013 12:16

after 7 years here I sold my entire portfolio in this company 5 mins ago. Lost a fortune but I got a huge weight of my shouders as this is only going one way and it is not up.

GL all, I am out of here!

[buywell2] 17/7/2013 11:13

computerised calls .... you are on a database

change your number if it's a drag

[corrientes] 16/7/2013 16:48

No - Apex International are offering up to £10 for each share.That makes it about the hundredth call from the scammers, the most recent call being about 4 days ago. As they are overseas based you can't have them phone barred. FEP is another they tease you with. Its amazing how they persist after all those years of my not holding shares in either of these two companies.

[andy] 16/7/2013 16:03

Macca,

Yes it sounds so much nicer than the stark reality, we are printing money into oblivion!

Shareholders are going to be diluted to death here, whilst management keep on receiving their salaries!

The Americans refer to AIM as a casino, I prefer to think of it as an ATM for management, at the expense of the investors.

[macca42] 16/7/2013 14:10

Andy its quite legal,
the americans call it quantitative easing, ;-)

[andy] 16/7/2013 14:02

smith99,

They're too busy checking their bank statements!

If they had any decency they would reduce their salaries and take some stock as part payment.

[earnestwipplethwaiteiii] 16/7/2013 13:59

BBR - talking about crushing, this RNS really is a crushing blow for the few PIs who, against all the odds, have kept the faith. As expected, Plant 2 recedes into the distant future, but importantly, there will be no revenue stream at all for two years!

[buywell2] 16/7/2013 13:36

So we are talking 1p then

[bam bam rubble] 16/7/2013 13:34

The company admits they will need more cash in Q4 2013

£1.3m existing cash allocated to cover loss-making operations for final few months
"In the coming months the existing processing plant will be permanently shut down."

£0.4m raised by applications made direct to the company (July 12th)
£0.6m raised from Audley Capital
£0.07m from FDI directors
£2.7m net to be raised from Miraubaud clients after 7% placing fee

use of proceeds: £0.7m debt repayment, £3m for working capital/restructuring costs

"The Company has also offered placees an opportunity to be insiders on the next one currently planned for Q4 2013. The placing will be at a discount to the share price
at the time (happily we were able to get this one away at a discount of just -24%)"

[buywell2] 16/7/2013 10:52

Only a matter of days and 2p should get tested

SA Mining industry is chaotic with a 9% wage rise recently agreed for diamond workers

One would imagine that any fit and able worker from Lesotho would go to SA and send money back to support their family thus leaving the less able/crocks or use of contractors as the option.

How long will the 6m last before the next cash is needed ?

dyor

[mr keeny] 16/7/2013 10:52

"living the life of the Kennys"

Not quite but although the Kenny's initially destroyed this company you will find that Mr Wilkes has been far worse in comparison.

Since he took over he has caused far greater destruction to the share price in percentage terms and also enabled more dilution.

I am certain this company is on the verge of folding so if I were Mr Wilkes I would start revising his CV because he will soon need another job but any future employer would be crazy to take him on in my opinion.

A failure of the very highest order.

Mind you, he has creamed so much salary from the company that he may be able to live a nice life without ever working again thanks to the shareholders of this company who are the only losers financially.

[earnestwipplethwaiteiii] 16/7/2013 10:32

I believe there is an update to the expression "living the life of Reilly". It is, "living the life of the Kennys".

[phoenixs] 16/7/2013 10:29

disgusting and outrageous. appalling situation. with all the money raised over the years this outfit should be a very profitable diamond company.... instead its a loser.

[buywell2] 16/7/2013 10:17

Remember only a few months back the FDI BoD was talking of needing $187m financing


So today was the first tranche

[earnestwipplethwaiteiii] 16/7/2013 10:13

What a disastrous investment this has proved to be, and what an agonising endgame that drags on and on. I particularly enjoy the jaunty tone of this latest RNS, in which they note cheerfully that they only have to raise $140m+ now, and not $170m.

[andy] 16/7/2013 10:06

macca42,

Exactly, 540 million, plus another 190 million here, so 730 million pieces of confetti once this has been finalised!

And then they have to raise at least $140 million for the new plant!

The LSE will need a wider screen to display FDI's oustanding shares on!

Spaceparallax must be uephoric at this news

[macca42] 16/7/2013 09:52

next thing will be a 1 for 100 share consolidation,

there are too many shares in issue,