Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Small signs of improvement but it appears to be another wait for confirmation of better things to come... "The Company continues to plan for mining to progress across the pit over the next 15 months, which will provide a truer representation of diamond quality and pricing than has been possible from the access to limited production areas during the ramp-up period." https://www.investegate.co.uk/firestone-diamonds--fdi-/rns/quarterly-update-on-operations/201804190700023824L/
they can't even get the dates correct in the RNS
Whilst i said that $82 is not enough, it IS in-line with time to date revised expectation. Indeed it could have been worse. Oh dear had it been $62, but it wasn't. . The company wipes its face at $75 as Johnny B said, but debt repayment is crucial and the 75 isn't included in that figure ( according to Chairman ) . If the March figures come out at $ 89 plus then we can breathe a little easier. . Sorry if i sounded a little pessimistic. It wasn't a bad report. . April info will be really interesting. Surprised at so many sales. This report is marginally positive... imo dyor etc
Yes there was a repayment after the December AGM, but repayments are now suspended for 18mths during the agreed moratorium period. $82 is an improvement yet not enough long term. I made a telephone call earlier today and understand; 1) We are likely to receive a far more detailed report in April 2) They are now implementing the revised mining plan which should stop the operating costs rising ( rand exchange rate dependent ) 3) Better areas now being targeted, lets watch the March auction figures. This April report will hopefully shine more light on the state of the company.
ABSA debt facility being gradually paid off. Looks like about $75 / carat is the minimum required to generate profit. "Capital repayments on the ABSA debt facility excludes the December capital repayment of US$5.2 million, which cleared shortly after month end. The Group is currently awaiting final documentation of the revised terms agreed by ABSA bank as well the revised facility agreement." https://www.investegate.co.uk/firestone-diamonds--fdi-/rns/half-year-report/201803270700059976I/
Unaudited Interim Results for the six months to 31 December 2017 FINANCIAL � Revenue of US$26 million � Cash of US$8.8 million generated from operations � Loss for the Period of US$7.8 million (H1 2017: US$8.8 million) � Loss per share of 2.2 cents (H1 2017: 2.0 cents) � Successful US$25 million equity raise in December in conjunction with ABSA debt restructuring � Cash balance at 31 December 2017 of US$29.7 million Market Cap. �36 million, cash balance �21 million. Cost of sales worryingly high though. Will it rise now from 7p?
I had about 20k with an average of 19p and saw the price soar to 60p before finally selling at 22p. It's knowing when to jump without being greedy! Now hold 31k and keeping my fingers crossed!
Article in Telegraph today, Stellar Diamonds BOD recommending accept Australian Newfield takeover offer as they warn they may have insufficient funds to continue without the deal for reasons including flat diamond market!
I had actually hoped for something this year. I previously held 75000 shares (Sold at cost) but only a token amount held now.
I hope you're not saying it's going to be ten years before FDI pull their fingers out and get on with the job!
Am pretty fit, hope for another 10 years and my much younger wife hopes the same, I think!!!
They must have heard you! Up another 3.5%.
At least it's 1.45% up and not down! It would be nice if they could find a few more. Big uns would be even nicer! I'm afraid we are going to have to be patient with this one, but I'm sure we'll get our reward eventually. If we live that long!
Good Heavens, we're up 1.45 percent!! We must have found a diamond, maybe even two!!
As i have learned to my cost, no news is hardly ever good news. Expecting the worst from here, should sell out but how can you when you're down so far. Should be £1 by now so where we are at is beyond a joke! Come on BOD pull your fingers out and update the PI's who had faith in you the last few years!! Save us or shoot us by be done with it.
A buyout with a pittance for the shareholders???
There may be an chance here to make a lot of money. To late for me they have had all mine.
guess we will know what it is after the event, small investors get no information till then, To late to make good judgements. The company has been much to quiet about advents at the mine good or bad. And the share price just keeps going down someone is controlling this.
This is becoming ridiculous, Surely the company must issue a statement about what is happening at this mine to cause such a continuous long drop in the share price. Something smells rotten here. All the investment of a brand new mine which should be producing diamonds and now a share price of 6.9 pence!!!
Some one is hell bent on driving the share price down.Just look at the trend. To what end is any ones guess may be to buy it cheap.
I also expected the price to rise to around 70p!! How wrong I was. Like the rest of us, I should have sold around the 50s mark.
I'm glad that someone else is optimistic! Surely the results can't stay this bad. Look on the bright side, the banks who lent them the money received shares in lieu of interest payments expecting the share price to rise to around 70p!
Some good news would be greatly appreciated from FDI if there is any!!! Could be they are still shifting large piles of ore with no diamonds in them!! There has to be light somewhere at the end of this very dark tunnel!
I held these shares years ago and did nothing but lose, the pittance I held to teach me a lesson were devalued by dilution and now are worth far less than a pittance. FDI and companies like them need to be made accountable. AIM is full of these money grabbing companies that do nothing for investors