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

Aldwickk,

FDI moving nicely today, now up 5.5p, and no news.

Maybe a move in anticipation of something being released either before, or like last year, just after, the AGM next week?

Possibly Andy although it's only picking up ground lost over the rest of this week. Still, looking forward to the AGM.

Andy,

FDI & AFD seem to be tracking one another today.

Sorry, didn't realise this was a private club.

queen1,

Are you going to the AGM?

I hope to be there, it's normally an interesting affair, and a decent buffet to follow!

Take a look at the chart below, I have marked in what I believe is a pennant that has formed, and if the breakout is confirmed, the potential rise looks good IMO!

No AGM or buffet for me I'm afraid Andy. New Year's resolution to watch my figure & figures!

queen1,

Me too, just late starting!

FDI AGM is normally an interesting presentation, I will post a brief synopsis next weekend.

Avoid.....getting ready for the knackers yard........

Right Andy.

Sue,

Don't think so!

Avoid is all I say......this is only going one way and that is down.

Sue,

Short it by all means...

Aren't we in 2006...the header says 2005....says it all...2006 could be very bad.

Sue,

I suggest you get your short on Monday then!


There are several possibilities for early news in 2006.



American project, news due anytime.

Groen River HL deposit JV with De Beers.

Orapa, Botswana, JV with De Beers.

Bonte Koe, South Africa, ramp up in production.

Marine gravel project JV with Trans Hex in Namaqualand, South Africa.

Avontuur mine JV with Trans Hex, South Africa.

Oena mine, South Africa, appointment of new contractor and ramp up in production.

IMHO any positive news form any one or more of these projects should ensure a price increase, and I expect a continual newsflow throughout the year.

FDI also own 7% approx of AFD , another increasing asset.


I am also waiting to see what FDI do with the recent raised 10 million placing funds, Tim Wilkes (ex De Beers) has a few ideas apparently!

Back to 40 pence I think by end of 2006.

lol!

You ought to be on the stage!

40 pence may be a tempting price....IMHO.

Sue,

Time to pile into your short then!

let me know what price you're in at, we can keep a running total!

FDI AGM coming soon, you never know, they might release the first news of 2006 around that time, it was a week after the aGM last year!

Still doesn't do it for me......2006 looks bad for Firestone.

Sue,

Time to pile into your short then!

let me know what price you're in at, we can keep a running total!

40 pence price target by end of 2006.....worth going short on these.