Firestone Diamonds Share Discussion Threads

[andy] 14/8/2019 09:08

Looks like the newly arrived have now moved on, at least the share price is steady.

[sigora] 12/8/2019 21:35

there it is 1.5m sell, got a decent price for it 1.31

[sigora] 12/8/2019 16:22

must be a big sell in background , with all these buys you would expect a wee rise

[thedickster] 12/8/2019 15:28

Added a few today, not too much, but this appears to have bottomed chart and volume wise.

[andy] 12/8/2019 15:23

jack,

Yes I meant 162 million it was a typo.

Thanks.

[sigora] 12/8/2019 11:37

a tick up soon with all the buys

[jack jebb] 12/8/2019 10:53

Superg

Good post, and of course there's a reason this has collapsed. All your points are known knowns, as someone once said.

With the biggest diamond mine closing down next year, I expect some investors will look to take advantage of rock bottom prices for other diamond miners, especially those in locations where the cost of employment is extremely low.

This is obviously a risky investment, but I think worth a small punt with money you can afford to lose at these levels.

[jack jebb] 12/8/2019 09:24

161.4mln, according to the FDI website, unchanged.

[andy] 12/8/2019 08:47

Jack,


Many thanks for the clarification, I didn't think Pacific Road would have sold without notification, but couldn't understand where their shares had gone.


So they still hold 162 million.

[jack jebb] 12/8/2019 01:40

The confusion arises as you have to click on each shareholder for a more detailed split of how the shares are allocated.

eg:Hargreaves Lansdown 13.216m is split 11.150m in their client accounts, and 2.067 in their share plan accounts.

Similarly, Interactive Investor have 4.621m in their client accounts, and 3.424m in their share plan accounts.

[jack jebb] 12/8/2019 01:34

Hmmm.

Further investigation of the bloomberg list reveals this:

4. M Pacific Road Capital Management Pty R 19,823,116 3.51 0 07/25/19
5. P Pacific Road Capital Management Pt R 141,602,949 25.04 0 07/25/19

ie Pacific seemingly havnt sold a single share.

Well thats me totally confused.

[jack jebb] 11/8/2019 22:05

Andy

yes, I would say Pacific Road have sold most of their holding and are the main reason the share price has collapsed here.

In fact, given the volume spike last week, I wouldnt be surprised if they are completely out now.

[andy] 11/8/2019 22:02

Syperg,


LOL!


I agree entirely, and thanks for adding in those facts about the current diamond market. I spoke to FDI management in January and they were disappointed with the prevailing diamond prices at that time


I see a recession coming, so hard to see how that could be positive for diamond prices, even if Argyle does close on time.

[superg1] 11/8/2019 20:39

ANDY

I've tracked this one from 17p calling it a buy but then. sell in the 50's as it had pretty much hit it's value pre mining, but the key point being diamond prices and the market reports when it was in the 50's

I saw the rises here and looked to see if it's anything in news. In news all I see is poor diamond prices and a big jump in waste ore being treated in the next phase which has been reflected in a jump in the costs per tonne forecast.

So the numbers are going to get worse for now.

The key if course is the diamond market as a whole.

So for now it looks like stock a bit tight and a pump crew arrived (as you suggest).

EG

Alrosa Sales Hit Lowest Level on Record

. Alrosa’s July sales slumped to their lowest point in three years, as weakness in the rough market continued to impact demand.

The Russian miner’s total sales slid 50% to $170.5 million for the month, it reported Friday. Rough-diamond sales, which account for the bulk of the company’s revenue, dropped 51% to $164.6 million.

So the fundamental side isn't pretty at all, costs to go up and it's a worsening market.

Don't let the truth get in the way of a good pump and dump though.

[andy] 11/8/2019 20:24

Jack,


Interesting, so in your opinion, Pacific Road have sold down their holding?


FDI should know if they have, although I agree the onus on notifying is with the holder that has sold, and not FDI.

[jack jebb] 11/8/2019 15:31

But I would trust the Bloomberg figures more, imo.

[jack jebb] 11/8/2019 15:29

I dont know. Legally, its upto the holder to notify the company. UK institutions do it rigorously, foreign owners less so.

[andy] 11/8/2019 11:38

Jack,


Thanks, well if that's the case the question is have Pacific Road sold most of their holding? And if they have, when, and why has it not been announced?

[jack jebb] 11/8/2019 11:13

Hi Andy.

Its from Bloomberg. The date given is the last update, either from the company or the holder.

I cant vouch for its total accuracy, but bloomberg are recognised as the market leaders in this type of information.

[andy] 11/8/2019 11:04

Jack,


I'm not too sure about the accuracy of your list.

Pacific Road had a lot more than 19 million shares in April, and if they had been selling there should have been an announcement.

---

"Following the issue of the new Ordinary Shares, Pacific Road and RCF will be interested in 161,426,065 and 162,021,377 Ordinary Shares respectively, representing approximately 28.55% and 28.65% respectively of the Company's issued share capital."

---

The figure for RCF matches exactly.

Or have Pacific Road really sold down,and not announced?

What is the source of your data please?

[kirk 6] 11/8/2019 09:53

This stock is so far from being pumped I don't think Hardly anyone posts on here anymore.It's more like the long term seller is no out and the mms have competed their orders which therefore means a much lighter supply of shares. Any buying going forward will likely see this make big percentage increase in price with a tighter float

[jack jebb] 11/8/2019 00:51

This is the latest bloomberg major shareholders list:

All
1. RCF Management LLC U 162,021,377 28.65 0 07/25/19
2. Edwards Family Holdings Ltd R 63,472,355 11.22 0 07/25/19
3. M SUSTAINABLE CAPITAL LTD R 58,748,294 10.39 0 07/25/19
4. M Pacific Road Capital Management Pty R 19,823,116 3.51 0 07/25/19
5. Hargreaves Lansdown Asset Managem U 13,216,633 2.34 2,062,575 07/25/19
6. FIL Ltd U 9,292,646 1.64 -707,279 07/25/19
7. Audley Capital Advisors LLP R 9,227,319 1.63 -2,845,000 10/21/16
8. M Interactive Investor Trading Ltd R 8,045,598 1.42 955 07/25/19
9. UBS AG U 7,376,438 1.30 0 07/25/19
10. M Halifax Share Dealing Ltd R 6,350,459 1.12 602,171 07/25/19
11. KBC Group NV U 4,802,296 0.85 0 07/25/19
12. Genovese Raffaele R 3,586,316 0.63 0 07/25/19
13. MAIN ACCOUNT UK MARKET R 3,292,711 0.58 0 07/25/19
14. Barclays PLC U 2,906,472 0.51 -156,171 07/25/19
15. M Norges Bank M 2,355,924 0.42 0 07/25/19
16. Aviva PLC U 2,350,000 0.42 0 07/25/19
17. HSBC Holdings PLC U 1,972,207 0.35 -4,753 07/25/19
18. M EQUINITI SHAREVIEW R 1,575,593 0.28 7,364 07/25/19
19. Julius Baer Group Ltd U 1,503,392 0.27 0 07/25/19
20. UNIVEST UNILEVER PENSION FUNDS R 1,479,086 0.26 0 07/25/19
21. M JB Management UK LLP/UK M 1,362,299 0.24 0 12/31/17
22. Winterflood Securities Ltd U 1,315,424 0.23 102,690 07/25/19
23. M Global Prime Partners LLP R 1,161,701 0.21 0 07/25/19
24. M IG Markets Ltd R 1,083,679 0.19 -430 07/25/19
25. M Share Centre Ltd/The R 1,076,867 0.19 -1,760 07/25/19
26. Charles Stanley Group PLC U 1,011,906 0.18 178,000 07/25/19
27. Trau Bros NV R 1,000,000 0.18 0 07/25/19
28. Macquarie Group Ltd U 945,496 0.17 0 07/25/19
29. AJ Bell Securities Ltd U 911,162 0.16 -13,967 07/25/19
30. Raymond James Financial Inc U 822,818 0.15 0 07/25/19
31. M Jarvis Investment Management Ltd R 815,084 0.14 -25,500 07/25/19
32. Alliance Trust PLC U 635,682 0.11 40,000 07/25/19
33. Isaacs Steven R 506,666 0.09 0 07/25/19
34. M Integrated Financial Arrangements PL R 421,830 0.07 0 07/25/19
35. Johnson Keith A 393,903 0.07 0 09/27/18
36. M Killik & Co R 256,720 0.05 0 07/25/19

37. M Credo Capital PLC R 234,000 0.04 0 07/25/19
38. JPMorgan Chase & Co U 152,663 0.03 0 07/25/19
39. Canaccord Genuity Group Inc U 139,953 0.02 0 07/25/19
40. BlackRock Inc U 0 0.00 -3,318,154 09/28/18
41. CDC AVOIRS PROPRES R 0 0.00 -1,392,578 07/25/19

[jack jebb] 10/8/2019 03:44

Markets tend to look forward, and with diamond supplies tightening next year, its possible that the rally anticipating this may have begun here.

Its about time it moved north, so is due a bounce, however sustainable that may be.

[andy] 09/8/2019 12:49

dave,


It's a long time since FDI was being ramped!


At least the thread has woken up a bit......

[davethehorse] 09/8/2019 11:21

Fair play to those in at 1p though