Firestone Diamonds Share Discussion Threads

[andy] 04/12/2019 13:22

MattAB,


About £75 million I believe, and they're paying the interest in shares rather than cash, with the next payment due early January.


That dilution is killing shareholder value here.

[sigora] 04/12/2019 13:21

bloody hell but well done all who is in this

[jammydodger1] 04/12/2019 13:20

Placing shares are being dumped Firestone Diamonds plc (AIM: FDI) announces that, in accordance with the terms of the US$30.0 million Series A Eurobond debt facility ("Series A Eurobonds"), and subsequent to the passing of necessary resolutions at a General Meeting that was held on 15 October 2019 ("the General Meeting"), it has opted to issue, in aggregate, 79,600,454 new ordinary shares of 1 pence each ("Ordinary Shares") in respect of the quarterly interest due on the Series A Eurobonds, for the two quarters ended 30 June and 30 September 2019.

[jammydodger1] 04/12/2019 13:18

Look at the gamblers here WowLet's see when the mms tank this and lock em inIt willBe NT to sell all the way

[tidy 2] 04/12/2019 13:17

73m quid debt

[mattab] 04/12/2019 13:10

What are the debts - think those on LSE think its debt free lol.

Paying the debts monthly with epic number of shares.

Debts around 70 Million?

[intheknow69] 04/12/2019 13:08

Those spikes don’t half hurt lol

[inayatk] 04/12/2019 13:06

Now the bid is 1.00

[costax1654x] 04/12/2019 12:44

Multibagger coming there

[andy] 04/12/2019 12:42

Babbler,


That's £9 million unrestrained cash, they have around £17 million altogether.


It's the debts you want to worry about!

[babbler] 04/12/2019 12:37

They have £9 m cash?

[andy] 04/12/2019 12:36

dave,


Sad, but true, the next dilution in early January will not be pretty.


Unless peeps keep bidding it up of course, I guess someone is pumping this on Twitter or the LSE BB

[davethehorse] 04/12/2019 12:30

Mugs buying in on the rise, the savvy bailing out into it...

[costax1654x] 04/12/2019 11:56

Buy algw and thanks me later

[andy] 04/12/2019 10:57

Indeed, nobody is looking at the fundamentals of the company at all, it was at 0.4p for a reason, and nothing's changed really, just the restoration of electrical power.

[davethehorse] 04/12/2019 10:55

MM heaven!

[andy] 04/12/2019 10:45

"Additional costs associated with operating the rented diesel generators during this period were approximately US$1.1 million and an insurance claim in respect of the loss of profit and the additional operating costs is in the process of being compiled."


That's at least positive, I wonder if they're claiming against the electric company or an insurence company?

[andy] 04/12/2019 10:40

Somebody paid 0.79p, now the bid's 0.65p!

[andy] 04/12/2019 10:16

Up 53% currently and top of the leaderboard!


The buying started within seconds of the RNS, which looks a bit strange to me.

[davethehorse] 04/12/2019 10:15

Great for the mms to make money....

[davethehorse] 04/12/2019 10:15

Yup, the lecky back on but what else has changed?

[andy] 04/12/2019 10:12

Yes the electric's back on!


Quite why the price has jumped so much is beyond me though, nothing has changed, and they're about to issue another load of dilution early next month to cover the interest owed on the debt.


I can't imagine the next set of results will be a pretty sight!