Member Info for LordSnooty

1. Can they get funding for new plant? 2. If so, under what terms and what split debt/equity? 3. What are their cash requirements going into 2013?

Actually "all parcels tendered....were sold" but "...no large stones were included".

You have been around long enough to know why FDI does not announce tender results until it is expedient for them to do so.

AGMs are rubber stamp affairs and not used for announcing price-sensitive news.

thanks for that, interesting.

read the history of the grid power project, then you will know.

of course it's Firestone's fault - who awarded the contract, who negotiated the bank loan, who engaged the contractors? The fact that the project is not finished and is at least nine months behind schedule is ultimately Firestone's responsibility. If by your post you mean to suggest otherwise then that is frankly absurd. In any event, I raised the point not for this reason, important though it is, but to highlight the fact that FDI's selective reportage of news continues, despite the change in management.

with pleasure: http://online.morningstarir.com/ir/fdi/ir.jsp?page=news-item&item=633320845100661

As I said: "One type 2A/B diamond recovery RNS". If you can understand literate writing then you will know that the one refers to the RNS, not the diamonds. In any case I note that there is still no mention of the size of these diamonds - which is historically typical of Firestone. And that is my central point. Dream all you like, that is what AIM is for - that, and the destruction of wealth for the majority of punters..

Fifteen RNSs total, of which: - Eight holdings RNSs - obligatory - One change of advisor RNS - obligatory - One award of options RNS - obligatory - One final results RNS - obligatory - One trading update RNS - One DFS announcement RNS - One new tender facility RNS - One type 2A/B diamond recovery RNS Notes: - No tender results yet, more than six weeks after diamond recovery RNS. It remains to be seen if they will continue to obfuscate the results when they do appear. - Still no official notification of delay in grid power, now nine months after scheduled connection. You may get a brief spike on announcement of tender results, assuming they are dressed up to flatter as they have been in the past, but I view that as an opportunity to take profit - that is, if you are one of the few people not locked in at a far higher price.

I enjoy irony, I really do. But a few board changes do not amount to a bag of beans in themselves. Point me to proof of a change in responsiveness to investors, a willingness to provide timely information, detailed inventory of sights, or indeed anything that indicates Firestone's company culture has changed for the better and I'll agree with you. Until then, good luck.

of Firestone's news management and draw your own conclusions as to why there is still no news of the most recent tender.

Your 08:24 is difficult to understand, but if I interpret it correctly you think that the level at which options are exercisable is set so as "not to really annoy the holders". That is frankly risible, particularly in the case of Firestone, which has seen its share price collapse from a spike of £2 to under 4p over a period of five years. If holders are not annoyed by now, then perhaps they have become Zen masters.

set at 8.5p are an indication, in my view, that that level will not be reached any time soon, otherwise where is the incentive? At a guess I would say that their hope of having new plant installed and worked up to nameplate capacity, tailings dam and other infrastructure to allow year-round production completed, and coupled with the necessary grid power to render Liqhobong profitable, within the two years stated, is an absolute pie-in-the-sky. Without private knowledge I can't possible state an estimate when that might happen, but on past experience with this company I wouldn't hold my breath for 2016, that is, if it survives that long as an independent.

I'm afraid there's always someone who pulls this tired argument out of the bottom drawer when all else fails; fact is about 99.9% of diamonds bought retail immediately lose value. Only the rarest and most distinctive see their value increase. Unfortunately this is a persistent myth started in all likelihood by de Beers, back in the days when they controlled the market for diamonds.

So this is a treeshake? Goodness, you ARE well named!

Yes, various operators beginning with Roy Spencer, then Tim Read, have been saying that for years.

It's sad that you are unable to argue a good case without (unfounded) innuendo. I note that you have a touching faith in institutions, when it is generally those very same entities that take the bread from the PIs' mouths. I stand by my reasoning, let's see how this interminable Liqhobong saga, destroyer of so many portfolios, plays out

That's what I used to say about LQB five years ago.

If the company survives, if it can raise necessary funds, if they get grid power, if grades improve and prices hold up in the face of economic uncertainty then perhaps, in about three to four years from now.