Firestone Diamond plc is pleased to announce the recovery of a 46 carat white, makeable diamond from its Liqhobong Mine in Lesotho. The stone was recovered undamaged and will go on sale at the next tender which is scheduled to take place at the end of January 2019.
The company is also pleased to report a stabilisation in pricing for the smaller, lower value stones (-3 grainers) at the recent sale which was concluded on 7 December and which confirms the trend reported by other producers.
Further details will be included in the Q2 production update.
Paul Bosma, Chief Executive Officer, commented: "The recovery of the white 46 carat stone is good news as we start mining across the pit towards the northern side of the orebody over the coming months. We are also pleased by the fact that the prices of our smaller, lower value goods have stabilised and we look forward to further improvement as we head into the new year on the back of an expected positive diamond jewellery retail season".
Macquarie Capital (Europe) Limited (Nomad and Broker)
+44 (0)20 3037 2000
Tavistock (Public and Investor Relations)
+44 (0)20 7920 3150
Annabel de Morgan
Firestone is an international diamond mining company with operations focused in Lesotho. Liqhobong is owned 75% by Firestone and 25% by the Government of Lesotho. Firestone commenced commercial production in July 2017 at the Liqhobong Diamond Mine in Lesotho. Lesotho is emerging as one of Africa's significant new diamond producers, hosting Gem Diamonds' Letšeng Mine, Firestone's Liqhobong Mine, Namakwa Diamonds' Kao Mine and Lucapa's Mothae Mine.
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