6 Sep 2017 07:00
6 September 2017
Firestone Diamonds plc
("Firestone" or the "Company") (AIM: FDI)
ABSA Debt Facility Update
Firestone Diamonds plc, the AIM-quoted diamond company, announces that as part of its current review of its life of mine plan for the Liqhobong Diamond Mine, published 8 August 2017, ABSA Bank Limited ("ABSA") has extended the financial completion date in respect of the US$82.4 million debt facility ("ABSA Debt Facility") from 22 September 2017 to 30 June 2018. As a result of the extension, the ABSA Debt Facility covenants will now only come into effect upon financial completion being achieved on or before 30 June 2018.
The Company is also in discussions with ABSA regarding any amendments that may be required to the ABSA Debt Facility in order to enable the implementation of the optimised mine plan, further details of which the Company anticipates to announce during Q4 CY 2017.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
For more information contact:
Firestone Diamonds plc | +44 (0)20 8741 7810 |
Stuart Brown | |
Strand Hanson Limited (Nomad) | +44 (0)20 7409 3494 |
Stuart Faulkner | |
Richard Tulloch | |
James Dance | |
Macquarie Capital (Europe) Limited (Joint Broker) | +44 (0)20 3037 2000 |
Raj Khatri | |
Nick Stamp | |
Mirabaud Securities LLP (Joint Broker) | |
Rory Scott | +44 (0)20 7878 3360 |
Ed Haig-Thomas | +44 (0)20 7878 3447 |
Tavistock (Public and Investor Relations) | +44 (0)20 7920 3150 |
Emily Fenton | +44 (0)7788 554 035 |
Jos Simson | |
Barney Hayward |
Background information on Firestone
Firestone is an international diamond mining company with operations focused in 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' Letseng Mine, Firestone's Liqhobong Mine and Namakwa Diamonds' Kao Mine.
For more information please visit: www.firestonediamonds.com.
**ENDS**