Firestone Diamonds PLC Recovery Of 72 Carat Yellow Diamond (3602V)

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RNS Number : 3602V

Firestone Diamonds PLC

08 April 2019

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:

 
                                              [phone] 
 Firestone Diamonds plc                        7810 
 Paul Bosma 
  Grant Ferriman 
 
 Macquarie Capital (Europe) Limited           [phone] 
  (Nomad and Broker)                           2000 
 Nick Stamp 
  Nicholas Harland 
 
                                              [phone] 
 Tavistock (Public and Investor Relations)     3150 
 Jos Simson 
 Gareth Tredway 
  Annabel de Morgan 
 

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.

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April 08, 2019 02:00 ET (06:00 GMT)