Firestone Diamonds Share Discussion Threads

[abtwo] 18/12/2019 07:00

Directors obviously still have no confidence in the company based on their (lack of) share holdings:

Directors’ interests in the share capital of the Company

Director Number of Shares % Holding
Lucio Genovese 3,586,316 0.70%
Keith Johnson 393,903 0.08%
Paul Bosma – –
Patrick Meier – –
Ken Owen – –
Eileen Carr – –
Niall Young – –

[abtwo] 18/12/2019 06:57

Still no Final Financial Results, one hopes the auditors are not having issues?

[andy] 14/12/2019 18:29

Pretty gloomy report on the diamond market:

[andy] 11/12/2019 08:39

Ab,


Yes, and ironically, other parts of South Africa are flooded! If only we could control the weather........


Bid down to .8p again now, still double the low, but those that bought in caught up in the pumping frenzy may be ruing their choice now.


It truly amazes me how people can so easily get caught up in a pump promotion. What was interesting is that it started so quickly after the RNS!

Call me a cynic......

[abtwo] 11/12/2019 07:27

At least they are getting rain in the area so the mine water supplies will be replenished. Hopefully good for the local farmers as well, as parts of southern Africa are in drought.

[andy] 10/12/2019 14:59

AB,


Thanks, a pretty gloomy picture there, De Beers cutting prices 5% last month, and FDI were already struggling with ROM average prices!


You do wonder what the coming dilution in January will be like?


If the current price holds it will be bad enough, but is any of the recent buyers start offloading it will be worse for sure, as they use an VMAP formula, and the price was a lot higher the last time they issued in lieu of interest.

[abtwo] 10/12/2019 14:48

From Bloomberg :

"Anglo American Plc curbed its plan to expand diamond production over the next two years after sales slumped in 2019 amid a wider industry crisis.

Anglo’s De Beers unit will mine 1 million carats less than previously forecast in both 2020 and 2021, according to an investor presentation on Tuesday. That equates to less than 1% of global output, but slows the pace of the company’s expansion as an oversupply of rough diamonds weighs on the industry.

De Beers’s buyers have grown increasingly frustrated with the cost of rough stones as the price of polished gems slump. That’s led to wafer-thin margins and losses for some of the traders buying stones from De Beers and Russian rival Alrosa PJSC.

Diamonds Disappoint

Source: De Beers

The crisis has spread to engulf the world’s diamond miners as well. De Beers, which dictates prices to its select group of clients, reported sales through November were more than $1.2 billion lower than the same period in 2018.

The company, which says it mines to meet demand, has responded by offering more flexibility to its customers, allowing them to reject some purchases. Last month, De Beers cut prices across the board by about 5%.

Even so, the company’s production is still set to rise to as much as 34 million carats next year, from 31 million carats in 2019."

[davethehorse] 06/12/2019 12:26

The trap door closing on those on at higher prices, where have the rampers gone, cracking the bubbly?

[recordz] 06/12/2019 11:39

As soon as this company started production ,it headed down in price.
From 52p ,back in 2017.

[mattab] 05/12/2019 16:16

Reckon 0.65 tomorrow but will drift down towards the 0.5 level IMO.

Where is the 2.5 pence yesterday or the 3/4 pence by end of play Friday (LSE)?!

Did hold in the Kopane days when FDI made the take over offer sold at 50% profit first time around at 32 pence long time ago now.

[davethehorse] 05/12/2019 15:49

Will be back to 0.5p level tomorrow imo

[mattab] 05/12/2019 10:12

Some may have made good money - bagger and more perhaps? Likely some LTH selling into the rise - mainly buying some 0.4-0.6. Be many holding and buying perhaps who are well down on paper who have never heard of FDI before yesterday. Pump and Dump certainly - another ramptastic LSE usual suspects.

Andy and Dave totally agree

'If you read the LSE madhouse, they are talking about the cash of $17m whilst totally ignoring the $70 million of debts that they cannot service the interest on, and are being forced to issue shares instead, which is diluting the shareholders every quarter.'

Be interesting an update re-the Debt and will the dilution with shares ever stop.

Diamond market as we all know is and will be in the doldrums for a considerable time.

[davethehorse] 05/12/2019 09:47

No, it was based on nothing just ramping on a forum, pump and dump, they made a lot of money but the shares are still not worth holding imo..

[andy] 05/12/2019 09:15

jack,


Nobody did, someone was promoting it heavily somewhere, probably on Twitter.


Good for the guys that bought early and offloaded into the buying later, those that bought at the top might learn a painful lesson very quickly.......

[jack jebb] 05/12/2019 09:09

Stocks tend not to rise 250% everyday. Did you see that rise coming?

[davethehorse] 05/12/2019 08:27

Here comes the sell off lol

[fatgreek] 04/12/2019 23:36

Good to see this rise so well.If you want another diamond Co with potential look at BRD, juicy diamonds being found consistently, small market cap..... record production expecting to turn profitable on next production update..... an lse poster just became a major shareholder rns'd today.....

[andy] 04/12/2019 20:55

Looking at the trades, they are all retail size, £500 to £2,000 mostly, someone is pumping this somehwere that's for sure.


And the LSE madhouse is really living up to it's name!


Here's one quote from a poster there:

"Well it could well go up, hence why I took the risk out of the trade. I know the last placing was at 10p, so this on the face of it is cheap"



Nobody is even mentioning the debt and constant interest payments in dilatory share issues!

[jammydodger1] 04/12/2019 20:08

Tonight you people need to research ALGWBIG PLANS 100,000,000 million. Credit facility about to be approved and signed by a leading UK asset managerMcap of this company is only 5m nowWill be multiples And way past 20pDnt be left out in the cold

[jammydodger1] 04/12/2019 20:07

Tonight you people need to research ALGWBIG PLANS 100,000,000 million. Credit facility about to be approved and signed by a leading UK asset managerMcap of this company is only 5m nowWill be multiples And way past 20pDnt be left out in the cold

[andy] 04/12/2019 18:53

astj,


He's gone now.


This always happens when a stock rises quickly, people pump another stock to try and get some of that profit people have made.

[astjgroom] 04/12/2019 18:46

Let's keep it on the real thread shall we pumpers

[jammydodger1] 04/12/2019 17:59

Tonight you people need to research ALGWBIG PLANS 100,000,000 million. Credit facility about to be approved and signed by a leading UK asset managerMcap of this company is only 5m nowWill be multiples And way past 20pDnt be left out in the cold

[jammydodger1] 04/12/2019 17:58

Tonight you people need to research ALGWBIG PLANS 100,000,000 million. Credit facility about to be approved and signed by a leading UK asset managerMcap of this company is only 5m nowWill be multiples And way past 20pDnt be left out in the cold