logo-loader
viewFirestone Diamonds

Firestone Diamonds sparkles as miner digs up 72 carat yellow diamond at its Liqhobong Mine in Lesotho

The AIM-listed group said the makeable yellow diamond was recovered together with a 22 carat makeable white stone, and an 11 carat fancy light-pink stone

Yellow diamond
Firestone Diamonds noted that this is the second stone of around 70 carat recovered from the operation this calendar year

Firestone Diamonds PLC (LON:FDI) shares sparkled on Monday after the miner revealed it dug up a 72 carat yellow, whole stone diamond at its Liqhobong Mine in Lesotho over the weekend.

In a statement, the AIM-listed group said the makeable yellow diamond was recovered together with a 22 carat makeable white stone, and an 11 carat fancy light-pink stone.

READ: An uptick in global prices could turn Firestone Diamonds into a significant cash cow

The company said the diamonds will go on sale at the next tender which is scheduled to take place during May 2019, adding that further details of the sale will be included in its fourth-quarter production update.

Firestone noted that this is the second stone of around 70 carat recovered from the operation this calendar year, following the 70 carat white, makeable which was sold in a March auction at a record overall price for a Liqhobong diamond.

Paul Bosma, Firestone’s chief executive officer, commented: "It was a good weekend for us, recovering the 72 carat diamond as well as the two smaller, high-quality stones from within the northern, lower grade part of the pit. These recoveries will certainly assist in supporting the average value of the next sale in May."

In late afternoon trading, Firestone shares were 4.9% higher at 2.15p.

Quick facts: Firestone Diamonds

Price: 0.2505 GBX

AIM:FDI
Market: AIM
Market Cap: £1.73 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Oracle Power CEO talks strategic importance and developments at its ...

Oracle Power PLC's (LON:ORCP) Naheed Memon talks Proactive London's Andrew Scott through recent milestones and achievements at it power project in Pakistan. Oracle's agreed to jointly develop a lignite coal mine and associated power plant in Pakistan with the help of China National Coal...

1 hour, 3 minutes ago

2 min read