Niggling worry.4 Dec 2019 19:38
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