3 May 2011 07:00
Firestone Diamonds plc
Appointment of Finance Director
LONDON: 3 May, 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 Angus Ogilvie to its Board as Finance Director with immediate effect.
Mr. Ogilvie is an Associate of the Chartered Institute of Management Accountants (UK) and has a Bachelor of Accounting Science degree (BCompt) from the University of South Africa. He has thirteen years' experience in the mining sector in Africa, including five years with Debswana and three years with Stellar Diamonds plc.
In his most recent position as Finance Director of Stellar Diamonds, Mr Ogilvie was instrumental in the listing of Stellar Diamonds on AIM through a reverse takeover of West African Diamonds and the raising over £16 million in equity funding. Mr Ogilvie has worked as an accountant in Botswana for Debswana and Botswana Ash and in South Africa for Deloitte, Dunlop and Wilkinson Sword. He has also worked in the UK as a stockbroker for Edward Jones and in senior financial management roles for companies including Elsevier, Beko and Siemens.
Welcoming Mr Ogilvie to the Board, Mr Kenny, Chairman of Firestone Diamonds, commented: "We are very pleased to have Angus join Firestone's senior management team. The extensive skills and experience that he brings will play an important role in supporting Firestone's development into a significant diamond producer."
For further information, visit the Company's web site at www.firestonediamonds.com or contact:
Philip Kenny, Firestone Diamonds Tim Wilkes, Firestone Diamonds
| +44 20 8834 1028/+44 7831 324 645 +27 78 457 6623/+267 713 77686 |
Tim Redfern, Evolution Securities (Joint Broker)
| +44 20 7071 4312 |
Rory Scott, Mirabaud Securities (Joint Broker)
| +44 20 7878 3360 |
Alexander Dewar, Brewin Dolphin (Nominated Adviser)
| +44 131 529 0276 |
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.
Angus Alexander Forbes Ogilvie, 51, has no current directorships nor is a member/partner of any partnerships. In the past five years, Mr Ogilvie has been a director of the following companies:
Stellar Diamonds Plc
Stellar Diamonds Ltd.
Guinean Diamond Corporation Ltd.
Basama Diamonds Ltd.
Castlebay Resources Ltd.
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.