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

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.

Andy, it looks as though you may be right. It really is starting to piss me off though. How come all of a sudden FDI is a "bad" company only a few weeks after surging ahead on a wave of good news. Nothing has changed so why is it dropping like a lead weight?

queen1,

Well to be honest I'm not sure.

Clearly the drop that has occurred in the general mining sector recently has taken it's toll, but the FDI drop has been greater than that.

I genuinely believe the prospects are as good as they were three months ago, when the price rose so dramatically, and feel we must surely have blown away any froth now, so hopefully we have seen the bottom now.

I would have thought we were due some news soon, and it can't come soon enough IMO.

Agreed Andy. I'm certainly not about to sell, just a little frustrated.

Frustration is starting to turn into despair - what's going on? Andy, you seem quite connected with these guys, any views from the company on the 40% drop seen in the last couple of months?

queen1,

No, checking the trades, the volume is low, and nobody with a notifiable interest seems to be selling.

I may try and ring Phil Kenny tomorrow, I agree, it's really disappointing to see such a drop, but provied 120p holds, we should be ok IMHO. If it drops through, I will be looking for FDI to supply some news to the market to support the price.

We have the potential for news from either Groen River or Botswana in the near future, and the free float is small, so I'm not sure how much further the price can fall.

Interesting that we fell the exact same percentage as Bidi Mining today, and less than AFD, although that's no consolation for us of course.

Queen1,

Hopefully we have bounced off the bottom now, and the 150DMA too!

Please.....!

Queen1,

Well we have a better day today(so far, touchwood!), +8p at the moment, to 142.5p MID.

Volume lowish, and mostly private investor size trades.

Queen1,

Moving northwards again this morning, and I have topped up again, I feel there is real quality here, and the opportunity to buy below 150p was too hard to resist.

Stock is in short supply I hear.

Hmmm - I've been trying not to get carried away Andy but the last few days have been better. What are the implications of the stock supply on this one?

queen1,

It's a tightly held stock, directors hold over 30% including trust funds, and institutions hold a fair chunk, which takes us over 50%, then we have some large holders!

Altogether that doesn't leave many in the free float, which makes you wonder how it could drop so much from the high!

I would like to see a little more volume to accompany the recent rise personally, some news would be welcome!

Thanks Andy