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Don't they have some debt as well?
How much is that exactly?
the present share price does not even cover the cash they have in the bank let alone they are sitting on a billion dollars in the ground ,with the means to get it out .Someone is taking the p###.really annoyed.
Post Quarter events
· A total of 102,835 carats sold realising total proceeds of US$8.2 million, in the second sale of FY19 on 26 October;
· Average value realised of US$79 per carat, despite continued pressure on the ROM stones;
· A number of special stones were sold including a 68 carat white diamond, the third most valuable stone sold to date for just under US$1.0 million, and a 20 carat fancy yellow diamond; and
· Recovery of a 326 carat near-gem diamond, the largest stone recovered to date at Liqhobong.
326 carat diamond looks promising. More of those will do nicely 💎💎.
A total of 194,206 carats sold in first sale of the financial year (Q4-FY18: 261,985 carats), realising revenue of US$13.5 million (Q4-FY18: US$18.6 million);
· Average value of US$70 per carat (Q4-FY18: US$71 per carat), below expectation mainly due to a deterioration in prices received for the smaller, lower value run of mine ("ROM") stones; and
· Net cash at the end of the quarter of US$25.7 million (Q4-FY18: US$27.8 million).
https://www.investegate.co.uk/firestone-diamonds--fdi-/rns/quarterly-update-on-operations/201810290700053954F/
2018 Annual Results Presentation...
https://www.firestonediamonds.com/wp-content/uploads/2018-Annual-Results-Presentation.pdf
Final results for the year ended 30 June 2018
https://www.firestonediamonds.com/wp-content/uploads/Final-results-for-the-year-ended-30-June-2018-1.pdf
The results look OK until you read the "Going Concern" part. That is the reason for the drop I believe.
"The underlying assumptions in the covenant forecasts are volatile and the current headroom in relation to covenant compliance is limited.
The Directors recognise that the covenant forecast is based on certain forward looking assumptions, including future diamond price, exchange rates - particularly between the South African Rand and the United States Dollar, and operating cost per tonne treated.
In the event that diamond prices fall or the South African Rand strengthens against the United States Dollar, covenants may be breached. Importantly, no covenant breach has occurred to date. If a breach did occur, the lender could require immediate repayment of the loan. No discussion has been held with the lender to date regarding what action may be taken by the lender in the event of a future covenant breach."
Our quantity is increasing but quality is not. We need a big jump in quality, or some big stones
Yes me ex kopane as well.
Its going to be a long road back and we need regular news flow and some big finds.
Just looking to get money back or much as i can at these low levels
Well I've been here since the kopane days been holding these since 23/07/2010 and have a very very looong way to go before I break even average is 29.9170p, so lets hope we see some nice large stones pop up sometime in the future, this rns reads well from my point of view so onwards and upwards.
Any views on today's results? I thought they were OK to good. Management seems to have got a grip on the ops side. The financials seem improved too although the cash position is a bit squeaky if costs increase and/or run of mine diamond prices don't improve. The gemstones are essentially a free call option. I think we're on the bottom here.
This is from HPC follower, over on iii, he seems quite bullish, 7 days ago.
Last trade today was a 100,000 FDI share sell at just 5.00p a share - which was actually enabled because I had two 50,000 limit buy orders in - MY LAST TOP UP…
The next quarterly results should show a significant improvement through mining better areas, in good weather whilst the Rand is relatively low to keep costs contained. Slightly worried that there are no large diamond finds yet, but I am sure they will start to be found as they go deeper in the Main Pipe kimberlite.
I am encouraged that none of the Main Holders have sold any of their FDI shares… which could be faith in the total diamond content & recoveries; or a reflection of the very low FDI share price at present.
FDI did send a link to an article which showcases yellow diamonds (FDI’s?) in special arrangements prepared by Tiffany for their prestigious customers, which may be of interest:-
https://www.bloomberg.com/news/videos/2018-09-04/inside-tiffany-s-private-suite-for-vips-video 6
FDI are clearly helping out on the marketing front… and could get a better percentage of the final diamond value through direct selling of their most special gem stones.
Agree, Ive got these from 50p, all the way down, with an average of 12p. my worst performer, however some of my biggest dogs have bought me the biggest profits due to averaging down and holding. I do have grey hair now though.
Having held these shares for a number of years it has taught me a lesson albeit an expensive one and that is never trust the board of directors
over on iii, they are a little more optimistic, though the shareprice is not to recognising any optimism
Not looking good here is it as it drifts even further
share price has not looked good for a long time. But the mine is operating ok according to last RNS guess no one wants to risk money till there is more positive news. I would like to see management buy shares to give us investors confidence, then find some big stones.
Better! Turnaround point? Downside - higher fuel cost, lower lower diamond price, fewer gemstones. Upside, good operations management, cash up. I'm topping up.
Paul Bosma, Chief Executive Officer, commented:
"The fourth quarter saw record production. We were able to access the high grade blocks in the mine plan and thanks to excellent operational performance we were able to achieve record carat recoveries. The increased volume translated in an improved cash position at the end of the financial year.
"As always, the average dollar per carat achieved is highly sensitive to the incidence of special stones, of which, we saw a lower incidence in this particular quarter. However, we continue to have grounds for optimism given the parts of the orebody we plan to exploit over the next 12 months. We recently completed a structural and geotechnical assessment of the pit and the outputs are now being used to rerun our life of mine plan. We look forward to updating the market in this respect during the first half of FY 2019."
💎 Firestone need to find more of the larger valuable diamonds to increase revenues and to pay off the ABSA Debt
"The Company successfully concluded the restructuring of the US$82.4 million ABSA Debt Facility on 29 June 2018. The restructuring provides for a capital repayment grace period up until 30 June 2019, when capital payments recommence, and an extension of the term of the facility by two and a half years to end December 2023."
Yes, I could buy much more Friday, but not weds Thursday. Hi
you couldn't buy any?
Look at the daily trades, there are plenty pf trades going through!
I have never been refused to buy shares ever, you clearly need a better broker!
Just done another small top-up, reckon this share has to be at rock bottom now.
I also tried to buy last week and couldnt?
Yes, I believe within next two weeks. I couldn't even by £300 worth this morning