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06/06/2011

Tim Wilkes at Firestone Diamonds says margins have grown substantially

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Additional Information
Market: AIM
Sector: General Mining - Diamonds & Gemstones
EPIC: FDI
Latest Price: 5.75p  (-2.21% Descending)
52-week High: 32.75p
52-week Low: 5.38p
Market Cap: 31.37M
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Firestone Diamonds
www.firestonediamonds.com

Firestone is a UK-based diamond mining and development company with assets located in Botswana and Lesotho. Firestone also controls a substantial portfolio of diamond exploration and development projects in the Orapa, Jwaneng and Tsabong regions of Botswana.

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Firestone Diamonds chairman Philip Kenny resigns to pursue other business interests

17th Jan 2012, 8:13 am by Andre Lamberti  Philip Kenny was a co-founder of Firestone and held the position of chief executive officer from the group's listing on AIM in 1998 until March 2011, when he became chairman

Firestone Diamonds (LON:FDI) said Philip Kenny has resigned as chairman of the company with immediate effect in order to pursue other business interests.

Kenny was a co-founder of the company and held the position of chief executive officer from the group's listing on AIM in 1998 until March 2011, when he became chairman.

Chief executive Tim Wilkes said: "Philip has been a driving force in the development of Firestone to a point where the company is now poised to become a mid-tier diamond producer.  

“We are grateful for the valuable contribution that Philip has made to the company over many years, including the leading role he played in the successful acquisition of the Liqhobong diamond mine in Lesotho in 2010, and our board joins me in wishing him every success in his future business endeavours."

Firestone has appointed Lucio Genovese to its board as non-executive chairman with immediate effect.

Genovese has 24 years' experience in both the merchant and financial sector of the metals and mining Industry.

He is CEO of Nage Capital Management in Baar, Switzerland, an advisory firm to Audley Capital Investment Management, and is also a board member at Ferrexpo (LON:FXPO).

He was previously employed at Glencore International AG where he held several senior positions including CEO of the CIS region and manager of the Moscow office. 

Genovese is a qualified Chartered Accountant of South Africa.

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