The Board of Firestone Diamonds plc, ("Firestone" or "the Company"), the AIM-quoted diamond mining and development company (AIM: FDI), is pleased to announce its final audited results for the year ended 30 June 2013.
· Stuart Brown appointed as CEO designate on 2 September 2013 · Unlocking value from the non-core Botswana assets through disposal or joint venture arrangements · Successful sale of South African alluvial assets
· Revenue increased by 52% to £9.9 million (2012: £6.5 million) · Cash operating loss decreased by 88% to £1.0 million (2012: £8.3 million) · Care and maintenance costs decreased by 50% to £0.4 million (2012: £0.8 million) · Corporate expenses decreased by 17% to £1.9 million (2012: £2.3 million) · Loss for the year decreased by 52% to £14.5 million (2012: £30.4 million) · Placing concluded on 19 August 2013 raising £3.8 million net of expenses
LIQHOBONG MINE, LESOTHO
· Cash operating loss reduced by 79% to £1.0 million (2012: £4.8 million) · Grade and diamond quality in line with expectations · Nine +100 carat stones broken valued at US$15-25 million MAIN TREATMENT PLANT ('MTP')
· DFS results announced on 25 October 2012 · Pre-tax NPV8% of US$335 million at a project level · Financing discussions well advanced
· Focused on Liqhobong, with the goal of becoming a +1 million carat per annum producer from 2016
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