FDL flinders diamonds limited

telephoned fdl today with this response

  1. 218 Posts.

    This from another site at 11.59 am this morning

    Just got off the phone with Richard Willson - Company Secretary.

    He was SUPER POSITIVE on the whole thing....

    I confirmed:
    1) Option holders will not be eligible for the 3.6m placement
    2) Only those who are on the register TODAY are eligible - so anyone thinking - NO NEED to convert your options or if you're on the outside, any purchase of Heads today won't be transacted in time with T+3 settlement
    3) Richard confirmed that they did have money in the bank to get drilling started but not enough to go and do a proper job and see it through. This placement will allow them to go in and do an extensive drill project to get the job done with the belief that the initial estimate is CONSERVATIVE!!!
    4) Drilling is still slated for late Q2/early Q3 - lots of set up work to get drill sites ready ect... so the placement doesn't necessarily speed up the process - gets us BETTER QUALITY OUTPUT
    5) Placement done tactically at 10c to enable a floor and leave option holders in the money (Well thought out!)
    6) Interest was HUGE for placement from his perspective (but then again he would say that)
    7) Right now closely monitoring market reaction and very pleased that only 0.5c drop - Very positive reinforcement to their plan in his opinion.
 
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