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For the people that are saying extra cash was burnt on the last 2 month required in renting the diesel generators, that is true. But everyone missed out that the RNS also stated that they have an insurance claim is being made in respect of the loss of profit and additional cost. As a result, the company will be getting the monies back on cost and profit that was lost.
Quote:
Additional costs associated with operating the rented diesel generators were about $1.1m, Firestone Diamonds said.
An insurance claim in respect of the loss of profit and the additional operating costs was in the process of being compiled, it added.
Unquote:
I can imagine if you bought in double digits here then yes but at this level it's a different story! Risk/Reward profile is very different..........................
Been on this board for years - not seen most of the posters here before - have you come because it was a biggest mover?
Read the last 20 or so posts - it is obvious that no-one don't have a clue about the company - good luck - you are going to need it.
back up on buys........
Pluto, pi’s for you. Herd mentality.
Mm’s dont want to give many away at all.
Correct the shares were issued at 1pps so underpins current value. Now back at full production this should move forward and up from here!
As I understand it they have defaulted on Bonds interest repayment and are issuing shares in lieu of payment. Correct anyone?
How much is existing debt ? Anyone help pl
Looking like it will fall...….the potential debt issue is the overhang
I'm now in as well
Bought some back, looks like a gap fill to me.
The Mcap is not reflecting appropriate value here in my opinion, and a lot of people sold on the bell (why?). Will hold out and wait for a bounce, to see if this starts going in the right direction again
yes it does look that way
Is looking rather good for an open up
Grid power restoration was a key milestone and that was evident in the price action. With this now in place Firestone will be able to extract the bigger stones, so that is a big positive.
Thanks 'adamk87' must've missed that :)
I hope I didn't worry too much folk, but was abit concerned.
Thanks again for you info :)
ATB
‘The prices realised for the smaller goods that make up the bulk of our production by volume, remain subdued, impacted by a build-up of rough and polished inventory in the midstream. Prices are expected to increase towards the end of 2020 as rough supply decreases as a result of continued reduced sales volumes by De Beers and Alrosa and the anticipated closure of the Argyle mine in Australia.’
An extract from the recent quarterly report, which is dated after the extract you posted Brig - looks like they’re optimistic about prices picking back up next year.
Still plenty of legs on this yet, way oversold. Now production back on track.
I would like a bit of clarity from the Bod.
To show 'my own' clarity and impartiality (don't want to be accused as a 'ramper/de-ramper) and I don't want to set in any doubt, but my only worry is this - the last paragraph is troubling me..
RNS Number : 3436O
Firestone Diamonds PLC
01 October 2019:
Save as described in the paragraph below, there has been no significant change in the trading or financial position of the Company since 31 December 2018, the date up to which the most recent unaudited interim financial statements were published.
As announced previously, trading conditions continue to be challenging due to the ongoing depressed pricing of rough diamonds across the industry as well as fewer valuable stones recovered resulting in lower than expected average values being realised; and recovered grades lower than the expected reserve grade. While the Group's cash balance is US$21.0 million as at 30 September 2019, the trading environment remains difficult and as a result the Company is actively engaging with its debtholders to ensure it can sustain operations through the current downturn.
However further deterioration in the financial or trading position is possible and may have material implications for the solvency of the Company independently of the passing of the Resolutions.
ATB
History of finding big stones it seems....should be back to 3pps level in know time now that the leccys back on!
At the end of November, the Group had a cash balance of US$17.0 million, of which US$9.3 was unrestricted.
Still 5.5m cap to match Cash in bank.
Such a strange close. Mm’s didnt know what to do with it lol
Dead Cat Bounce,,, IMO
I am fairly new to the LSE Board. However been watching this stock. Main thing I see is that the SP already reached rock bottom over the last month, only time before it bounces back up since there isn't much holding the SP back following today's RNS. It should take it where it was last year 3p/4p. Also, IMO From my professional experience in Loans, covenant breaches can be common and usually get waived and extended so shouldn't really effect the SP anyway.