Firestone Diamonds PLC Appointment of CEO (8890N)

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RNS Number : 8890N

Firestone Diamonds PLC

14 May 2018

14 May 2018

Firestone Diamonds plc

("Firestone", the "Group" or the "Company")

Appointment of Paul Bosma as CEO

Firestone Diamonds plc (AIM: FDI), a new diamond producer with operations focused in Lesotho, is pleased to announce Paul Bosma's appointment as the new Chief Executive Officer with effect from 1 July 2018. Paul's promotion follows Stuart Brown's decision to step down as Chief Executive Officer and Director of the Company.

Paul Bosma has more than 24 years' experience in the mining industry, of which 14 years have been in the diamond sector where he worked for De Beers. Paul joined Firestone in 2014 as the Mineral Resources Manager on the project team and in 2016 became General Manager of Liqhobong mine. Paul's responsibilities to date have included managing and implementing the commissioning and ramp up to commercial production of the Liqhobong mine, day to day managing of site operations as well as producing the recently approved revised mine plan. Prior to joining Firestone, Paul was General Manager of a joint venture between De Beers and Anglo Gold Ashanti. Paul previously worked as a vice president for Pala Investments, an international mining investment fund based in Switzerland. Paul is a qualified geologist and holds BSc (Honours) and MSc degrees as well as an MBA from the University of Cape Town's Graduate School of Business.

Stuart Brown's last day as Chief Executive Officer and Director of the Company will be 30 June 2018.

Lucio Genovese, Non-Executive Chairman, said: "We are pleased to announce Paul Bosma as the new CEO. The Board, in its succession planning, has been impressed with Paul's role as General Manager of Liqhobong, while his significant experience in the diamond sector as well as a deep understanding of capital markets make him the ideal candidate to become the new CEO.

"On behalf of the Board, I would like to thank Stuart for his leadership. Stuart joined just under five years ago, with the mandate to lead the financing and construction which subsequently put Firestone into the elite group of producing diamond companies. We wish him every success for the future."

Stuart Brown, outgoing CEO, commented, "It has been a privilege to work with such a talented group of people at Firestone and I have no doubt the Company will continue to grow and be a successful diamond producer.

"With the operations now at steady state production and the team carrying out a recently signed-off, optimised mine plan, I feel confident that Firestone is well placed to realise its full potential under Paul's leadership. Paul knows the Liqhobong mine better than anyone and has been instrumental in delivering the mine performance within budget, and continuing Firestone's remarkable zero lost time injury record since project commencement in July 2014. Paul has proven he is more than capable of taking this project forward and I wish him every success."

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 ("MAR").

For more information please visit www.firestonediamonds.com or contact:

 
                                              [phone] 
 Firestone Diamonds plc                                 7810 
 Stuart Brown 
 
 Macquarie Capital (Europe) Limited (Nomad    [phone] 
  and Broker)                                           2000 
 Nick Stamp 
  Nicholas Harland 
  Guy de Freitas 
 
                                              [phone] 
 Tavistock (Public and Investor Relations)              3150 
 Simon Hudson 
 Jos Simson 
 Gareth Tredway 
 

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. 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.

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May 14, 2018 02:00 ET (06:00 GMT)