Firestone Diamonds – latest share price crash, a warning

Shares in Firestone Diamonds (FDI) are currently more than 65% lower at 0.33p on the back of a quarterly update including “impacted by… power disruption… Lower cash balance at 31 December 2019 of US$17.0 million (Q1: US$21.8 million)”… and “Proposed cancellation of AIM listing”…

Firestone Diamonds (#FDI) – proposed cancellation from AIM as considers “everything possible needs to be done” re. costs

Firestone Diamonds (#FDI) – Liqhobong production resumes with rented diesel generators after grid electricity supply interruptions

Firestone Diamonds (#FDI) – “current lower than expected average diamond values”, proposed 10p, £18.5m fundraise

Firestone Diamonds (#FDI) – recovery of largest diamond to date, of 134 carats from Liqhobong mine

Firestone Diamonds (#FDI) – extended financial completion date of ABSA Bank debt facility

Firestone Diamonds (#FDI) – lower current year production guidance “to improve the long term mining operations”

Firestone Diamonds (#FDI) – Liqhobong mine commences production ramp-up

Firestone Diamonds (#FDI) - sale of Botswana operations off, buyer “not been able to meet the conditions”

Firestone Diamonds (#FDI) – extends date for disposal of Botswana ops to 9th Sept to enable buyer to finalise funding

Firestone Diamonds (#FDI) – date extended for disposal of Botswana operations to Tango Mining. Hmmm.

Firestone Diamonds (#FDI) delay in sale of Botswana Operations

Firestone upbeat over Lesotho gem project

For a company which has lost three quarters of its AIM value in 17 years, Firestone Diamonds (FDI) sounds determinedly positive about present prospects for its flagship Liqhobong kimberlite project, holding an estimated 23 million carats in the gem-rich southern African kingdom of Lesotho. With its shares down at 24.5p from a 2-month high of 37p and 1998’s float price of 114p, Firestone, which trimmed its losses by $800,000 to $10.4 million (£6.8 million) in the year to June, is ‘fully funded’ and on track for first production in the fourth quarter of next year, declares chief executive officer Stuart Brown.

SP Angel Morning Mining Note: Petra Diamonds, Firestone Diamonds, Avocet Mining, Wolf Minerals

John Meyer of SP Angel this morning comments on Avocet Mining, Petra Diamonds, Wolf Minerals and Firestone Diamonds as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond. 

Firestone prepares for full-scale production

Gem counter Firestone Diamonds (FDI) should be ready to produce one million carats a year from its flagship Liqhobong project in the politically-troubled southern African kingdom of Lesotho by the middle of 2016, having halved its pre-tax losses to $11.2 million (£7 million) in the year to June. So says chairman Lucio Genovese, as the AIM-quoted company nears completion of the sale of South African assets and works to dispose of its ‘low-grade, high-value’ BK11 mine in Botswana.

Firestone Diamonds passes ‘most important milestone’ – a recovery punt?

Stuart Brown, the former finance chief of gem giant De Beers who is now running and, it is hoped, reviving AIM dog Firestone Diamonds (FDI), proclaims the company’s new $140 million (£84.5 million) debt and equity financing package as Firestone’s ‘most important milestone’.

Firestone Diamonds - some funding promise, but uncertainty remains

AIM-listed diamond miner and explorer Firestone Diamonds (FDI) has announced “our financing efforts remain on track and, if successful, would significantly reduce the equity required to fund the main treatment plant at Liqhobong.

Firestone Diamonds - Sell

This has been a shockingly bad tip from me. The shares have popped up today. And so...