Firestone Diamonds Share Discussion Threads

[andy] 29/8/2018 18:55

AB,

"Probably they came up with a value that they needed to get the funding for the project."


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Interesting thought!

[andy] 29/8/2018 12:21

tanelorn,


Agreed, this doesn't inspire confidence, the consistent under delivery is concerning.

[tanelorn] 29/8/2018 10:59

Trust ?

Either the numerous feasibility studies were in error or the plant is missing the stones, or they aren't digging in the right spot,,?? or theft, or?

We all hope for improving grades and cpht, yet as time passes, it's not good.

[tanelorn] 28/8/2018 17:38

Hi mdalos1>

1)The mine was meant to produce 32cpht
2)@ us$ 115 to 132 ish
3)The debt of approx us$90 million is a massive problem, although wasn't on original feasibility study

Current performance, without checking my figures,,,, cpht 22 at us$ 75

Not good. - Now you know,,, however they have cash to turn it around, it's just the fs seems at the best negligent,,, something seriously wrong, the price is based on ' they can't, just my view, imo dyor etc.

Too many whiskys.

[andy] 15/8/2018 11:56

Ab,

Funny I checked both rates to the US $ before making that comment, and the rate given was different!


yet checking Loti to SAR gives 1:1, strange!

Here is the clickable link to the article, and I expect this will go through as Lesotho, like Botswana, is seeing money and jobs frittered away to other countries and wants to beneficiate them in country, and you can hardly blame them for that.


Not sure if this will effect FDI financially.

[abtwo] 15/8/2018 02:17

Hopefully nothing will come of this as they have looked at doing this previously :

hxxp://www.lestimes.com/lesotho-emulates-botswanas-diamond-model/

[abtwo] 13/8/2018 10:39

Loti is pegged to the SA Rand.

[andy] 13/8/2018 08:50

Looking at the chart, the rate is higher now than last November.


Don't forget they use the Loti in Lesotho, not the SA Rand!

[abtwo] 13/8/2018 08:43

The falling US$-Rand exchange rate should help lower operating costs.

[tanelorn] 24/7/2018 14:13

Hi ABtwo> was it not three consecutive quarters? ed sorry you implied as much

[andy] 24/7/2018 10:28

Ab,

Good spot, it's lucky they were able to achieve that!

[abtwo] 24/7/2018 08:40

Luckily the average value of US$71 per carat of the last diamond sale was above the US$70 minimum that ABSA put in as a minimum required for 3 quarters otherwise a credit review is required or they call a default on the facility. So strike one averted!

[andy] 23/7/2018 23:14

mdalos,

I trust you're a youngster if you harbour those thoughts, it's been a long slog with FDI to get to this point!

[andy] 23/7/2018 08:29

ABtwo,


Yes I agree, and when the opening line refers to zero hours of work lost to accidents you know it's not going to be good!


A step in the right direction is perhaps the best you can say, and we'll have to hope there are good grounds for their "optimism"!

[abtwo] 23/7/2018 08:03

Good to see the grade and throughput has improved however the quality remains a challenge.
Always concerned when they have to regularly refer to "optimism" as the means for better outcomes.
The higher waste costs forecast will make it challenging unless they see diamond values improve however the longer they mine/process the more chance of a "bonanza" stone being recovered.

[jackbal] 17/7/2018 14:42

Buying Volume today looking much healthier today than it has for weeks.

Advfn trade volume is wrong I believe, other sites showing more buying.

[jackbal] 12/7/2018 19:52

IG.

ISA maxed out so best tax free method of averaging down

[tanelorn] 12/7/2018 17:50

Who did u manage to get a spread with?

Would have though purchase was less of a margin