Firestone Diamonds Share Discussion Threads

[andy] 31/5/2019 10:01

I wonder if management will reply to this email sent ny 'hedgehog' on the LSE?

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'[e-mail]'; '[e-mail]'; '[e-mail]'; '[e-mail]'


As a significant shareholder I’m concerned there has been no management buy, even at this low share price.

You are sending a negative message to shareholders, to the market. We have been told of plans to reverse the plummet in the SP, would management buying FDI shares not show some confidence in the plan that you designed and we as shareholders have followed?

I, and other shareholders are very concerned there are ulterior motives in regards to the future of the company. With deafening silence from the company on Diamond sales, prices, no management buys, what-so-ever, from directors with miniscule holdings and a share price that has fallen from 50p to 1.65p its time management communicated with shareholders and showed some commitment and confidence in the company.

Can you please:

• Confirm the price of the last 4 diamonds sold;
• Purchase some shares to show commitment and that you believe the company has a future
• Update the shareholders on further plans to reverse the plummeting share price and find more diamonds, possibly with a XRT machine.

This is a very real concern for us, and some good faith from management is well overdue.

[andy] 29/5/2019 14:12

astgroom,


No need to be sorry, your post covers all the pertinent points, and I agree any email to the company should mention them.


I fear the debt is the main issue on their minds currently though.

[astjgroom] 29/5/2019 14:01

Thanks Andy, I know, sorry, frustrated

[andy] 29/5/2019 13:50

astgroom,


The elephant in the room is the debt, and their need to either repay it, or renegotiate it.


This will determine the future of the company unless they pull a Millennium Star out of the proverbial hat PDQ that is!

[astjgroom] 29/5/2019 13:07

You should all email the company: pbosma@firestone..,I've emailed Paul, grant and Glenn re lack of clarity on larger diamond sales, lack of support from management for the plan they designed, in terms of management buys and lack of communication

[andy] 29/5/2019 11:17

buywell2 - 14 Aug 2012 - 17:44:02 - 414 of 3662 Firestone Diamonds discussion thread - FDI

Engineered MBO ?

For peanut price of circa 2p a share when it hits 1p

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Well that looks as though it MAY turn out to be prophetic, and I'll be the first to congratulate you if that is the case.


With the current share price action, we shouldn't have too long to wait, sadly.............

[buywell2] 29/5/2019 08:26

Am I good .... or am I good ?


I said the above on 14th Aug on this thread when FDA traded at over 50p


Sure it went higher ... because PI's got dazzled by the sparkly shiny story, but IMO that is all it was and the chart agrees

[buywell2] 29/5/2019 08:20

This is what buywell said


buywell2 - 14 Aug 2012 - 17:44:02 - 414 of 3662 Firestone Diamonds discussion thread - FDI

Engineered MBO ?

For peanut price of circa 2p a share when it hits 1p

Can't see any sane bank or institution wanting to buy in with their track record unless it would be for 100% control

which would mean present shareholders would get sweet FA

[buywell2] 29/5/2019 08:14

Well you can't say that buywell didn't warn you guys

From well out over 7 years ago

[abtwo] 29/5/2019 08:07

"Based on actions within management's control we expect a breach will not be triggered", Yes, if the bigger/better diamonds prove to be elusive then they can make sure the average diamond price stays above the minimum by removing some of the poorer quality diamonds from the sales parcels. It will show up as a lower recovered grade but.......better than the alternative.

[gbgold1] 28/5/2019 22:34

They have enough cash to pay the loans for a few quarters. But unless significant size stones are found before Dec 19. Then correct, it’s game over.
The one positive I’m taking from today is that the sold shares where quickly snapped up. (Hopefully for a bargain price). Maybe someone has been clever to drive the price down on the lack of newsfeeds, to make a killing by driving back up. Or is that just me living in hope like I have done for the last 3 years.

[bam bam rubble] 28/5/2019 19:36

Looking bad here...

From the annual report:
There is a material possibility that the lender's financial covenants may be breached
and in this event it is uncertain what action the lender may take against the company.
Based on actions within management's control we expect a breach will not be triggered
however the underlying assumptions are volatile and there is not significant headroom.

[andy] 28/5/2019 15:39

A new all time low, and the market cap is now under £10 million.


This looks like a train wreck in slow motion. If there's any good news around now would be a good time to release it chaps!

[gbgold1] 28/5/2019 15:13

davethehorse - was just about to type the same. I wonder if the 3 “quality”; gems failed to sell for the price FDI was hoping for.

[davethehorse] 28/5/2019 15:04

Another drop (10%), any bad news around the corner?

[andy] 03/5/2019 12:52

astj,


It will be interesting to see what it's worth though, "near gem quality".


An excellent find though, for sure.

[astjgroom] 03/5/2019 10:47

Come on FDI, ur going the wrong way, again I see lucara found a 1758 carat stone using XRT...

[andy] 01/5/2019 11:24

Tanelorn,


Thanks for posting that, it will be interesting to see if this reduction in supply translates into higher prices at the forthcoming sights.

[tanelorn] 01/5/2019 10:50

Taken from the first quarter production news (Rio Tinto)

Diamonds
At Argyle, carat production in the first quarter of 2019 was 22 per cent lower than the same period in 2018 due to lower recovered grade.

[tanelorn] 30/4/2019 22:13

Still faulty

[andy] 25/4/2019 11:31

I thought there was a problem with ADVFN's charts! :-)

[astjgroom] 25/4/2019 10:21

Check that out boys we've go up! ;-))