Listing on Botswana Stock Exchange (2679I)

TIDMFDI

RNS Number : 2679I

Firestone Diamonds PLC

13 June 2011

Firestone Diamonds plc

Listing on Botswana Stock Exchange

LONDON: 13 June, 2011

Firestone Diamonds plc, ("Firestone" or "the Company"), the AIM-quoted diamond mining and exploration company (ticker: AIM:FDI), is pleased to announce that the Company has satisfied all of the requirements for a dual listing on the Botswana Stock Exchange's Venture Capital Board ("VCB"). Firestone's shares are expected to commence trading on the VCB on 13(th) June 2011.

Philip Kenny, Chairman of Firestone Diamonds, commented: "Firestone Diamonds is currently the only company selling diamonds by tender in Botswana, both from the BK11 Mine in Botswana and the Liqhobong Mine in Lesotho. We are very pleased to be able to offer Botswana-based investors the opportunity to participate in the growth that we expect as production from Firestone's mining operations continues to increase and the shortfall in diamond supply continues to drive rough diamond prices higher."

For further information, visit the Company's web site at www.firestonediamonds.com or contact:

 
                                         +44 20 8834 1028/+44 7831 
 Philip Kenny, Chairman, Firestone        324 645 
  Diamonds                                +27 78 457 6623/+267 713 
  Tim Wilkes, CEO, Firestone Diamonds     77686 
 Rory Scott, Mirabaud Securities 
  (Nominated Broker)                     +44 20 7878 3360 
 Alexander Dewar, Brewin Dolphin 
  (Nominated Adviser)                    +44 131 529 0276 
 Gregory Matsake, Capital Securities     +267 318 8886/+267 713 
  (Corporate Broker, Botswana)            21421 
 Jos Simson / Emily Fenton, Tavistock    +44 20 7920 3150/+44 7899 
  Communications                          870 450

Background information on Firestone Diamonds:

Firestone Diamonds plc is an international diamond mining and exploration company with operations focused on Lesotho and Botswana. Firestone operates the Liqhobong Mine in Lesotho and the BK11 Mine in Botswana. Firestone is also the largest holder of mineral rights in Botswana's diamondiferous kimberlite fields, controlling approximately 10,000 square kilometres around the major Orapa and Jwaneng mines and the entire Tsabong kimberlite field. In addition to Liqhobong and BK11, Firestone has 108 kimberlites in its portfolio, of which 30 have been proven to be diamondiferous.

Lesotho is emerging as one of Africa's significant new diamond producers, and hosts Gem Diamonds' Letseng Mine, Firestone's Liqhobong Mine as well as the Kao and Mothae development projects. Botswana is the world's largest and lowest cost producer of diamonds, with annual production worth over $2.5 billion, and is considered to be one of the most prospective countries in the world to explore for diamonds.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCDKKDQQBKDKAD

Firestone Diamonds (LSE:FDI)
Historical Stock Chart
From Jun 2024 to Jul 2024