Firestone Diamonds PLC ABSA Debt Facility Update (9113P)

TIDMFDI

RNS Number : 9113P

Firestone Diamonds PLC

06 September 2017

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:

 
                                         +44 (0)20 
 Firestone Diamonds plc                  8741 7810 
 Stuart Brown 
 
                                         +44 (0)20 
 Strand Hanson Limited (Nomad)           7409 3494 
 Stuart Faulkner 
 Richard Tulloch 
 James Dance 
 
 Macquarie Capital (Europe) Limited      +44 (0)20 
  (Joint Broker)                         3037 2000 
 Raj Khatri 
 Nick Stamp 
 
 Mirabaud Securities LLP (Joint 
  Broker) 
                                         +44 (0)20 
 Rory Scott                              7878 3360 
                                         +44 (0)20 
 Ed Haig-Thomas                          7878 3447 
 
 Tavistock (Public and Investor          +44 (0)20 
  Relations)                             7920 3150 
                                       +44 (0)7788 
 Emily Fenton                              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**

This information is provided by RNS

The company news service from the London Stock Exchange

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September 06, 2017 02:00 ET (06:00 GMT)