Your average price per FDI share must now be a lot lower than mine, but I remain hopeful as trading is still mainly small volumes.
They must be getting to some of the better areas now but I honestly don’t know. The recoveries must surely be better this quarter; the dollar is strong & Rand is weak - helping on £ value & £/$ cost fronts. But I still worry that they haven’t found any really big, good gem stones recently.
Lucara, however, did much better once down from the surface & weathered levels a bit - and FDI should do the same eventually.
FDI only need to recover a few such large stones & the share price will recover rapidly… but nobody knows when this might be done and, until then, the share price will stay low given the debt outstanding.
I do think that FDI may start to sell its best yellow gem stones to Tiffany, for a better return than in standard auctions. If Tiffany want to specialise in high value jewellery arrangements for their VIP customers, they will want to guarantee their supply chain. We will see in due course.
Good luck… we and the major shareholders (whose average must be near 20p an FDI share, having bought most at 30p equiv., with extras in 10p placement), still need it I feel.
Right now, I need some of my other prospects to do well too… FRR, VOG, JLP, ZIOC, OBT, MCM, NANO in particular.