Firestone Diamonds plc is a UK-based international diamond mining and exploration company with operations in the Namaqualand region of South Africa and Botswana. Namaqualand, which is located on the west coast of South Africa, has been one of the world's largest alluvial diamond producing regions for the past 60 years, with total production to date estimated to be worth more than $3 billion. Botswana is the world's largest producer of diamonds by value, with annual production of over 20 million carats worth over $1.6 billion.

Firestones strategy has been to build a portfolio comprising advanced development and production projects to provide sustainable cash flow to fund ongoing exploration programmes and to provide an early return on investment, together with large scale exploration projects which have the potential to yield significant reserves of gem quality diamonds.

The company operates the Avontuur Mine and the Oena Mine of Namaqualand, which produces high quality alluvial diamonds, and has a growing portfolio of advanced and early stage exploration projects in known diamond producing areas in Namaqualand and Botswana.



Since 1996 the company has increased reserves and resources more than thirty two times from 34,000 carats to over 1.1 million carats at present, with an estimated gross value of approximately 260 million. Firestone is debt free and well funded and has a highly qualified management team with extensive experience in the financing and development of diamond and other natural resource projects. Firestone is quoted on the Alternative Investment Market (AIM) of the London Stock Exchange and trades under the symbol FDI.L.

Firestone also has an exploration project in the USA.



Main Mining Pit, Avontuur Mine, Namaqualand, South Africa.






For FDI Corporate information : http://www.firestonediamonds.com/frcorporate.htm

For FDI homepage : http://www.firestonediamonds.com/index.htm

Firestone Dimaonds shares in issue: 65m 20p Ords

Firestone Diamonds PLC - Major Shareholders

Major Shareholders ---- Amount --- % Holding
Elfin Trust Company Ltd 7,200,000 16.68
Aurora Investment Trust 7,200,000 16.68
Gartmore Investment Mgt 5,418,116 12.56

Andy

Are you sure interim results out today? as not shown on Money am forward diary.

Themaster,

Yes, AIM companies do not have to announce in advance.

Thanks Andy, I'ii look out for the RNS, maybe news on AFD tie up?

TheMaster,

No I doubt that now, I now don't think FDI were in for AFD.

To be honest, I think FDI have enough on their plate already, and any deal with AFD would muddy the waters, so I would prefer it not to happen.

I do believe JT has not endeared himself to De Beers, whereas Firestone are always professional, so DB may have an interest in seeing a tie up.

TheMaster,

Quite a drop now, and results still not out, not too sure what to make of this.

Andy

Looks to me if the MM's lowing the SP on low volumn(tree shake)pending the release of the RNS.

Andy

Results just released, check it out

theMaster,

Yes thanks, just read them.

Not too much new information there to be honest, but I do follow FDI closely, so may be more in touch with the company than some.

Some points I have noted after briefly reading the results were;

After tax profits UP 11%

Drilling commenced on Groen River HL deposit.

FDI is now the dominant landholder in the Groen River area.

First Bonte Koe diamonds produced and sold for 2.5% per carat MORE than expected. (Bonte Koe production will increase significantly for the ANNUAL results as BKL had only been producing for up to two months for the interims).

FDI are currently evaluating "other opportunities" on the Buffels River, Bonte Koe area.

Avontuur production DECREASED 9% due to equipment transfer to Bonte Koe.

Oena mine expansion underway.

FD has aquired considerable new exploration land in Botswana.

De beers are carrying out exploration work in Botswana, and initial drilling targets are currently being drilled.

Results of the company's USA drilling "should be known shortly", which is a nice surprise!

Staff costs increased 50%, this would be accounted for by the Bonte Koe new employees I presume.

All in line with expectations IMHO, although possibility of news from the USA was a surprise.

Nothing here to justify the price fall today IMHO (albeit on low volume), so hopeful of a recovery in the next few weeks, as news is possible at any time.

All,

It looks as though we may be heading down to the placing price of 150p, which often happens after a placing, but I have to admit I didn't think would happen with FDI.

Today's price action is disappointing, given some solid results, and excellent near future prospects of news IMHO.

Volume was low, so we MAY see a rise tomorrow once the interims and accompanying notes have been digested.

I longed again today.

Stop is tight.

FDI looks v.good. Be urprised if we dont go up from here.next 3 months 2+ IMO

Big Al,

Good luck, held up well today IMHO, and a couple of larger buys to soak up the smaller sells is a nice way to end the week.


Nowayaprofit,

That would be nice, and not out of the question either, if the right news comes along!

Thanks to an ADVFN poster (easytimes) for this information, from the April edition of Growth Company Investor apparently.
---------------------------------------------------------

the Growth Company Investor (April 2005 edition) was positive on Firestone Diamonds as part of an article on covering your position if there are any shocks in the mining sector it concluded the following:

Stocks to ride out any market shocks
-------------------------------------
Consolidated minerals
Monterrico Metals
Cambrian Mining
Celtic Resources
Mano River
Firestone Diamonds
Jubilee Platinum


Stocks to Avoid
-----------------
Zari Resources
GMA Resources
Mercator
Minco
Palladax
Galahad Gold
Goldstone Resources
Oriel Resources

Gartmore have added another 100,000 to their holding.
========================================================

Firestone Diamonds PLC
07 April 2005


7th April 2005
Firestone Diamonds plc


Firestone Diamonds plc ('the Company') announces that it has received
notification today from Gartmore Investment Management plc, that Gartmore
Investment Limited, Gartmore Fund Managers Limited and Gartmore Global Partners
have an aggregate revised notifiable interest in 5,433,116 Ordinary Shares of
20p each representing approximately 11.853% of the current issued ordinary share
capital of the Company. These shares are held as follows:

Fund Managing Number of Ordinary Percentage of UK Registered Owner Beneficial Owner
Co Shares held Issued Capital

Gartmore Fund 2,492,085 5.437% HSBC Global Custody Gartmore Fund Managers
Managers Nominee UK Ltd Ltd A/C Gartmore UK &
Limited Irish Smaller Companies
Strategy Fund

Gartmore 407,151 0.888% BNY GIL CLT A/C NOMS Gartmore Growth
Investment LTD A/C NWSC Opportunities plc
Limited

Gartmore 544,589 1.188% BNY GIL CLT A/C NOMS Gartmore Smaller
Investment LTD A/C LST Companies Trust plc
Limited

Gartmore 282,800 0.617% BNY GIL CLT A/C NOMS Gartmore Absolute Growth
Investment LTD A/C GAGIG and Income Trust (Growth)
Limited

Gartmore 1,034,483 2.257% Nortrust Nominees Strathclyde Pension Fund
Investment Limited
Limited

Gartmore 463,038 1.01% Vidacos Nominees Ltd A The Alphagen Volantis
Investment /C 1945 Fund Limited
Limited

Gartmore 208,970 0.456% Goldman Sachs Nominees The Gartmore Limited
Investment Ltd Issue UK Small Cap Fund
Limited Ltd



The Company has been advised that the above shares are held for investment
purposes only for the clients and client funds concerned.


For further information:

Philip Kenny, Firestone Diamonds +44 20 7370 6452 / +44 7831 324 645

Leesa Peters, Conduit PR +44 20 7618 8707/ +44 7812 159 885

Jamie Cumming, Bell Lawrie +44 141 314 8103/ +44 77 680 44620



This information is provided by RNS
The company news service from the London Stock Exchange

Thanks Andy.

Queen1,

Well we were well and truly thumped today, surprisingly more than what I consider lesser resource stocks. Not quite sure why that should be, but I have high hopes we will soon recover.

I can't see any news being released in the current climate, so a move back up to support around 150p is probably the best we can hope for at present.

Andy, funny you beat me to it. It has been quiet on this thread while the sp has sauntered lower on no news but after today I was going to drop you a line. Obviously almost all of my shares have shown red today but as you say, surprising that FDI should be dropping by almost double-figures. Still, as they say, a good stock doesn't become a bad stock overnight.....

Hi Andy - Any thoughts around FDI at present? I know that the markets as a whole are suitably depressed and most of my shares have been in the red for the last couple of weeks but I was hoping that FDI would continue to sparkle and buck the trend :-(

Queen1,

So was I!

Looking at the chart below, there appears to be a gap to be filled around 120p, so we MAY fill that before we rise again.

Thanks Andy.