8 Apr 2019 07:00
8 April 2019
Firestone Diamonds plc
("Firestone" or the "Company")
RECOVERY OF 72 CARAT YELLOW DIAMOND
Firestone Diamonds plc is pleased to announce the recovery of a 72 carat yellow, makeable diamond from its Liqhobong Mine in Lesotho, during the past weekend. The 72 carat diamond was recovered together with a 22 carat makeable white stone, followed by an 11 carat fancy light-pink stone. These diamonds will go on sale at the next tender which is scheduled to take place during May 2019.
This is the second c.70 carat stone recovered from the operation this calendar year, following the 70 carat white, makeable which was sold in the March auction at a record overall price for a Liqhobong diamond.
Further details of the sale will be included in the Q4 production update.
Paul Bosma, 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."
For more information please visit www.firestonediamonds.com or contact:
Firestone Diamonds plc | +44 (0)20 8741 7810 |
Paul Bosma Grant Ferriman |
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Macquarie Capital (Europe) Limited (Nomad and Broker) | +44 (0)20 3037 2000 |
Nick Stamp Nicholas Harland |
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Tavistock (Public and Investor Relations) | +44 (0)20 7920 3150 |
Jos Simson |
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Gareth Tredway Annabel de Morgan |
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About 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. Liqhobong is owned 75% by Firestone and 25% by the Government of Lesotho. Lesotho is emerging as one of Africa's significant new diamond producers, hosting Gem Diamonds' Letšeng Mine, Firestone's Liqhobong Mine, Namakwa Diamonds' Kao Mine and Lucapa's Mothae Mine.