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Gold doing well! Glass ceiling for CEY until Ozs are confirmed I think.
On a separate note I’ve been banned from the Kinesis telegram group for voicing concern over the 4th launch delay. I think it’s bad it’s delayed again, and worrying they banned me for questioning!
whether innocent or guilty, should not take 6 years to get to trial.
This is a really sobering article on the state of the US and global economy.
https://www.forbes.com/sites/greatspeculations/2019/06/17/key-indicators-have-peaked-markets-hope-for-soft-landing/
This article dated 3rd March 19 says Argyle has 400 days roughly until closure. That means we are looking April/May 2020 for closure of Argyle, and hopefully a bump then(or before then) in market prices.
https://blog.arpegediamonds.com/what-might-happen-when-the-argyle-mine-closes-in-2020
Because Tump and Co keep promising to run to the rescue. In fact, bad news is now starting to drive the market higher because of the promise of stimulus. How f*ucked-up is that. That and his U turn on Mexico have pumped it. Markets not allowed to go down anymore.
Hi. Yes management have replied to my email.
Diamond prices: 311 carat nr makeable - $230k / 72 carat - $560k, 22 carat - $360k, 12 carat pink - not yet sold (all found in the special weekend). 46 carat sold in Feb 19 - $1.23m and the record 70 carat - $1.62m.
They reason they most give is the market prices which are beyond their control, over supply in the market since 2016.
Stornoway and Mountain Province who are also juniors and have similar product have also had the SP trashed.
It rests on Argyl closure, by which 14m carats will disappear in 2020, helping market prices to recover, and in total 23m carats will disapear by 2023. Replacement production will only be 12.8m carats in the same period, so bar the next slow down, prices should rise.
We'll start to pay down debt with cash going forward, no more dilution. Management couldn't really comment on not buying shares, even though I pushed them, sighting Market Abuse regulation, but did say they are in for the long term and SP appreciation. They are also going to try and rework the balance sheet in the short term.
Personally, I think I just have to be patient and have faith,(which is really, my only option)
https://www.theassay.com/videos/interview-paul-bosma-firestone-diamonds/
From May 11th...
'pbosma@firestonediamonds.com'; 'rgenovese@firestonediamonds.com'; 'gferriman@firestonediamonds.com'; 'gblack@firestonediamonds.com'
As a significant shareholder I’m concerned there has been no management buy, even at this low share price.
You are sending a negative message to shareholders, to the market. We have been told of plans to reverse the plummet in the SP, would management buying FDI shares not show some confidence in the plan that you designed and we as shareholders have followed?
I, and other shareholders are very concerned there are ulterior motives in regards to the future of the company. With deafening silence from the company on Diamond sales, prices, no management buys, what-so-ever, from directors with miniscule holdings and a share price that has fallen from 50p to 1.65p its time management communicated with shareholders and showed some commitment and confidence in the company.
Can you please:
• Confirm the price of the last 4 diamonds sold;
• Purchase some shares to show commitment and that you believe the company has a future
• Update the shareholders on further plans to reverse the plummeting SP and find more diamonds, possibly with a XRT machine.
This is a very real concern for us, and some good faith from management is well overdue.
What about splashing out on a XRT machine?
Gem Diamonds... "We were the pioneers of XRT, testing the first equipment. We ran a trial unit in Johannesburg and it proved to be successful, and then they built a machine. In the course of the last 18 months, all of the big stones that have been recovered have been recovered using XRT. That is one box that can be ticked - there is some new technology involved. We now have three XRT recovery machines in our processes, and they are doing very well. This 910-ct. diamond came out of an XRT machine. That is part of the story."
May see some profit taking tomoz but I expect a slow tick up over coming weeks. Would like gold to get out of its home.
The whole of the ADVFN board has been taken over by white walkers n I see LSe as winterville, BTW. I’l be staying here to all your dismay