Firestone Diamonds Share Discussion Threads

[andy] 15/4/2019 13:30

mdalos,


My recent post referred to this:
---

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?

[andy] 15/4/2019 11:05

Recent comment from the Petra results:

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Commenting on the diamond market Petra Diamonds says that “Rough diamond prices achieved during the two tenders in Q3 up ca. 1% on a like-for-like basis compared to prices achieved in H1 FY 2019”

[davethehorse] 11/4/2019 23:17

Sounds promisinghttps://www.thediamondloupe.com/market-analysis/2019-04-11/antwerp-diamond-trade-picks-march-polished-prices

[andy] 11/4/2019 08:12

ast,


I'm sure they do, by not telling us we can't work out the ROM average value for the other stones.


And the reason for that can only be bad, because good news travels fast and is broadcast from the rooftops..........

[astjgroom] 11/4/2019 00:22

No, certainly not when they told us they would tell us more. All the other miners tell when they sell a high price one. Perhaps they have their reasons.

[andy] 10/4/2019 21:16

mdalos,


Very possibly, but I still don't see the justification for not informing their shareholders of the value of the "record price" stone, do you?

[andy] 10/4/2019 19:02

ASt,


Yes we could do with a few of those for sure!


I think the company are duty bound to inform us of the price of the "record" diamond, I still cannot believe they're keeping this a secret.

[astjgroom] 10/4/2019 16:42

Letseng sold a 13.3 carat fancy pink for 8.8m. Firestone found an 11 carat fancy pink. Let's hope the quality is similar.

[abtwo] 09/4/2019 11:48

As mentioned in a previous post here, if, as Paul suggests, it is such a good buying opportunity for investors then shouldn't senior management be backing up his comments with their own share purchases?

[andy] 09/4/2019 10:26

AB,


Snap! Beat you y a few seconds!

[abtwo] 09/4/2019 07:35

@Gussher : re diamond prices - maybe smoke and mirrors, as stated it is likely FDI are concerned that revealing the prices for their large stones will show just how low the prices they are receiving for their small ROM diamonds. This info may make peeps concerned as to how reliant they are on recovering the larger diamonds just to stay in business.
Just my thoughts though.

[andy] 09/4/2019 07:34

Gusher,


I think it's because that would enable people to calculate the value per carat of all the other stones sold, and that figure isn't very good.


By withholding the value we cannot work it out, quite appalling for a public company really, IMO.

[gussher] 09/4/2019 00:26

Anyone ... why do they not reveal the price received for the 70-carat stone at the March tender until Q3 ?
Likewise, the latest 72-carat will be tendered/sold in May, but info re the proceeds not due to be revealed until Q4 ..?
Not familiar with diamond market - is this just a FDI quirk, or is it the normal practice ? Thanks

[bigglesbingham] 08/4/2019 19:35

Do they have the funds? Are they business owners or employees on standard salaries. I've lost touch here after losing fortunes from kopane days

[tanelorn] 08/4/2019 17:20

We'll only see a large rise, upon, imo, the ceo and other directors buying.

They're not convinced and hence neither are the larger buyers.

Until such time, this is PI led.

[jackbal] 08/4/2019 14:40

Glad to see some evidence of better finds and hope this will become a more regular occurrence.

Have to say I’m a little disappointed share price hasn’t fared better so far today but do recall a large sale of a million plus shares at 1.98 or thereabouts so MM’s probably just knocking that back out and not short of stock yet.

[suehannah1] 08/4/2019 12:52

By announcing it is a 'makeable' diamond, the diamond miner is also advertising to the big diamond merchants with several £10s/100s of millions in their back pockets to look out for it, especially if they have high value clients sniffing around.

[andy] 08/4/2019 12:26

Sue, AB,


OK thanks for your interpretations and explanations, they make sense.


Tanelorn,


None taken, you always make sensible posts here.



Well we have to ask if this is the turning point? Now we have found a cluster of decent stones, we should be happy to finally receive some positive news!

[suehannah1] 08/4/2019 12:17

Makeable means they can cut one large high value stone out but the cut-offs would still be used for small ones - of considerably less significance. It is for the diamond cutter to decide not the diamond miner. If not makeable, then the rough would probably become several small/medium sized diamonds depending on the flaws and other aspects.

[abtwo] 08/4/2019 12:07

@Andy, re " but why use the term "makeable"?" : my understanding is that they can ONLY make one good stone from the diamond versus if it was "sawable" then they would get two of which one would be larger than the other.
So, they can "make" one good diamond by cutting off the flawed/poorer parts of the diamond.

[tanelorn] 08/4/2019 11:49

Just noted Suehannah1's comment, agreed.