20 Jun 2011 07:00
Firestone Diamonds plc
Appointment of Director
LONDON: 20 June, 2011
Firestone Diamonds plc, ("Firestone" or "the Company"), the AIM-quoted diamond mining and exploration company (ticker: AIM:FDI), is pleased to announce the appointment of Paul Sobie to its Board as Non-executive Director with immediate effect.
Mr Sobie is an economic geologist specializing in the exploration and evaluation of diamond deposits, with over 20 years' professional experience including extensive project development for clients in both the junior and senior mining sectors, including De Beers, Falconbridge, Firestone Diamonds, Stellar Diamonds, Siberian Diamonds and Kopane Diamond Developments. Mr Sobie's work in diamonds has had a particular focus on Southern Africa, and he has a very good understanding of Firestone's operations in Botswana and Lesotho, having consulted to the Company for a number of years. Mr Sobie is currently President and Managing Partner of MPH Consulting Limited of Toronto, Canada, an international mineral exploration, geological and geophysical consultancy.
Welcoming Mr Sobie to the Board, Philip Kenny, Chairman of Firestone Diamonds, commented: "We are very pleased to be able to welcome someone with the extensive experience of the diamond business as Paul Sobie to our Board, and believe that he will be able to make a significant contribution to the development of Firestone as we make the transition to become a significant diamond producer."
For further information, visit the Company's web site at www.firestonediamonds.com or contact:
Philip Kenny, Chairman, Firestone Diamonds Tim Wilkes, CEO, Firestone Diamonds
| +44 20 8834 1028/+44 7831 324 645 +27 78 457 6623/+267 713 77686 |
Rory Scott, Mirabaud Securities (Nominated Broker)
| +44 20 7878 3360 |
Alexander Dewar, Brewin Dolphin (Nominated Adviser)
| +44 131 529 0276 |
Gregory Matsake, Capital Securities (Corporate Broker, Botswana) | +267 318 8886/+267 713 21421 |
Jos Simson / Emily Fenton, Tavistock Communications
| +44 20 7920 3150/+44 7899 870 450 |
Information required to be disclosed pursuant to Rule 17 and Schedule 2 paragraph (g) of the AIM Rules.
Paul Andrew Sobie, 50, is a director of the following companies:
MPH Consulting Limited, Forrester Resources Corporation and IronOne Inc.
In the past five years, Mr Sobie has been a director of the following companies:
Siberian Diamonds Limited.
Other than the information contained within this announcement, there is no further information required to be disclosed by the AIM Rules.
Background information on Firestone Diamonds:
Firestone Diamonds plc is an international diamond mining and exploration company with operations focused on Lesotho and Botswana. Firestone operates the Liqhobong Mine in Lesotho and the BK11 Mine in Botswana. Firestone is also the largest holder of mineral rights in Botswana's diamondiferous kimberlite fields, controlling approximately 10,000 square kilometres around the major Orapa and Jwaneng mines and the entire Tsabong kimberlite field. In addition to Liqhobong and BK11, Firestone has 108 kimberlites in its portfolio, of which 30 have been proven to be diamondiferous.
Lesotho is emerging as one of Africa's significant new diamond producers, and hosts Gem Diamonds' Letseng Mine, Firestone's Liqhobong Mine as well as the Kao and Mothae development projects. Botswana is the world's largest and lowest cost producer of diamonds, with annual production worth over $2.5 billion, and is considered to be one of the most prospective countries in the world to explore for diamonds.