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

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.

Sue,

So can you please post the opening price of your short?

That way we can check how well you're doing! (Or not!)


Firestone have so much in the pending pipeline that I am reasonably confident they will enhance shareholder value this year.

It's worth remembering that institutions, directors, and management hold over 50% of the stock, loyal long term shareholders hold around 30%, and there's only around 15% in free float.

40 pence I say........Andy thinks IQE is going to 6 pence from 11 pence at the moment........who's the tracker here.

Andy....said don't buy DMR at 0.30 pence and now at 0.60 pence.....who's the tracker here and keep on eye on how Andy is doing.

Sue,

I have been in FDI at various prices, from the lowest around 30p, upwards, and most have already qualified for the two year BATR, so I am already healthily in profit.

The reason I back FDI is mainly the quality and experience of the management, and also the strong institutional support the company has.

The free float is only around 15%, quite small for an AIM junior, and anyone taking a short position would have the MM's rubbing their hands with glee IMO!

All,

AGM today, is anyone here going?

If so, I will see you there, there are normally only a few PI's, along with the various analysts and brokers that fill out the room, so we normally end up chatting afterwards.

The FDI AGm is always a good presentation, and there is much to check the progress on this year.

I will write up a brief synopsis at the weekend if I have time.

Hi Andy - I'm not going unfortunately but a summary would be good - Always interested to hear your views.

queen1,

I will type up my thoughts tomorrow, but tired tonight.


I would just like to say hello to Ray, another MAM poster that I met at the AGM today.

Ray has yet to make his inaugral post on MAM, so I'm hoping he will share his thoughts re the AGM with us too!