Firestone Diamonds Share Discussion Threads

[tanelorn] 08/4/2019 11:47

Sorry Andy

There was no snide innuendo intended, it's just that i didn't sell. I still hold a significant loss, though my average was brought down at 10p which combined with sales at 30p helps.

Hope springs eternal, and i feel there is still hope, indeed a lot!.

Makeable, imo means the diamond is good 'with less cleaving', so whilst not a helpful
description as to value, could be conceived as positive.

[suehannah1] 08/4/2019 11:28

A ‘makeable̵7; stone is the name given to diamonds whose shape lends its self to having one large diamond cut from it.

[andy] 08/4/2019 11:24

Tanelorn,


Of course not, all are cut, but why use the term "makeable"?


I strongly suspect it will be a lot smaller when it's been cut, hence their use of the term. Otherwise, why use it at all when everyone knows all diamonds are cut?

[tanelorn] 08/4/2019 11:15

None are?

On a different note; It does seem that just one more good find might spark a resurgence of interest. Clearly the next tender is nicely propped-up, but if the one afterwards could be secured and then repeated?

There has to be a risk/reward equation, and whilst i profess a bias, in my opinion (no advise intended) I think this is now a splendid, albeit high risk buy?

imo dyor etc,

Regards

[andy] 08/4/2019 11:11

I guess they are using the term "makeable", (a term I had never heard prior to the previous RNS) to indicate that whilst it's 72 carats, it won't be that size once it's been "made"!

[abtwo] 08/4/2019 09:44

We need photos of the diamonds on the FDI website as "Proof of Life"?

[abtwo] 08/4/2019 08:40

Hopefully not like the previous ones that were reported as recovered but then nothing further heard.
Unless it is fancy vivid yellow then the price will not be "notable"
Maybe some chance with the "light" pink?
Hopefully not yellow / pink lipstick on some pigs ;-)

[astjgroom] 08/4/2019 08:13

Great news

[tanelorn] 08/4/2019 07:18

I always open emails from FDI with some trepidation.
But three notable stones! Excellent.

[andy] 07/4/2019 10:33

Tanelorn,


This is part of the problem, every quarter they issue new shares to PAC and RES in lieu of interest. This has been as follows:

6,693,627 31 December 2018. x 2 = 13,387,254 --- share price = 2.875 pence
4,623,608 30 September 2018. x2 = 9,247,216 --- share price = 4.375 pence
4,130,134 30 June 2018. x2 = 8,260,268 --- share price = 5.8 pence
3,004,634 31 December 2017. x2 = 6,009,268 --- share price = 8.85 pence


On the basis that shares are issued using a VWAP price, I would expect around 17,400,000 new shares to be issued in a few days time.

Existing shares 546,572,318 + 17,400,000 new shares would equal 563,972,318.

The new shares are issued every quarter, do you see the scale of the dilution, which is increasing as the share price falls?

[astjgroom] 07/4/2019 08:52

They are surviving and have two years, argyl closure will help ROM prices and then there's specials. Not going they way we would like but it's not a terminal case, but we may get some money back if you've averaged in in the very long term, maybe!

[tanelorn] 06/4/2019 16:17

Andy,

You! i think, may be premature?

Of course the cpht is marginal, but by their own admission, they can survive at US$75,,, we shall see..

If, as you 'fairly' and i agree the situation is precarious, manage US$75 then there's hope for a year or two.

On the other hand, should they get a few larger diamonds, the reversal of fortunes might lead to an remarkable ascendancy. We shall see.

[andy] 05/4/2019 16:16

buywell3,


I think it looks pretty terminal here, they need to pull some decent large stones out of their hat PFQ to turn things around, ROM simply isn't cutting it, and the debt level looks like the north face of the Eiger.

[astjgroom] 05/4/2019 08:27

If they were out to screw us I think it would have happened by now at 2p. Just a bad investment, it could all change with two or three stones

[andy] 03/4/2019 21:08

Jackbal,


About to rise? Making a profit?


Not very British is it? :-)

[astjgroom] 03/4/2019 20:30

Gosh Letseng sold a 13.3 carat for £8.75m! £656k per carat!

[tanelorn] 03/4/2019 17:30

Someone realising a cgt loss, to offset?