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Additional Information
Market: AIM
Sector: Diamonds & Gemstones
EPIC: FDI
Latest Price: 11.75  (-2.08% Descending)
52-week High: 36.50
52-week Low: 9.13
Market Cap: 43.78M
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Firestone Diamonds
www.firestonediamonds.com

Firestone is a UK-based diamond mining and development company with assets located in Botswana and Lesotho. Firestone commenced production at the BK11 Mine in Botswana in July 2010 and plans to recommence production at the Liqhobong Mine in Lesotho 2011. Firestone also controls a substantial portfolio of diamond exploration and development projects in the Orapa, Jwaneng and Tsabong regions of Botswana.

Full Firestone Diamonds profile here
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Firestone Diamonds broadens Botswana based investment appeal with BSE listing

15th Mar 2010, 2:46 pm

Firestone Diamonds (AIM: FDI) said it intends to apply for a secondary listing on the Botswana Stock Exchange (BSE), and has appointed Capital Securities of Botswana as its sponsoring broker for the proposed listing. The listing application is expected to be made shortly, and the company’s shares are expected to join the exchange in Q2 2010.

"Firestone has made a substantial investment in its Botswana operations, which are now the primary focus for the company”, Firestone chief executive Philip Kenny commented. “With BK11 due to commence production shortly, and more than 100 kimberlites in our licence areas in the Orapa, Jwaneng and Tsabong regions, we believe that we have a successful future ahead of us in Botswana and look forward to growing our shareholder base in Botswana".

The company has been granted ‘Local Asset Status’ by the Non-Bank Financial Institutions Regulatory Authority of Botswana. According to Firestone, with its ‘Local Asset Status’ and the pending BSE listing, Botswana-based institutional investors have a significantly improved ability to invest in the company.

Production at Firestone’s BK11 kimberlite is due to commence in Q2 2010.  According to Firestone, with over 25,000 square kilometres around the major Orapa and Jwaneng mines and the entire Tsabong kimberlite field, it is the largest holder of mineral rights in Botswana's diamondiferous kimberlite fields. Botswana is believed to be the world's largest and lowest cost producer of diamonds, with annual production worth over US$2.5bn, and is considered to be one of the most prospective countries in the world to explore for diamonds, Firestone said.

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