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,

good info re the fund redemptions. Amazing to think that I've worked in the industry and I didn't think of it - mind you it has been two years since I graced the office with my presence on a regular basis!

Now that sounds like my kind of job soul traders!

Read my profile and you may change your mind.

In an ideal world I'd be sitting at home writing novels and screenplays. As it is, I'm just sitting at home.

Fair enough. I don't tend to take much notice of the profile as they're mostly fantasy but I guess not in your case.

Indeed.

Andy,

Still here and awaiting good news - just around the corner? From SP drift this week we are among the few. However, had one piece of good news yesterday regarding my car accident, other party's insurer accepts 100% liability. Good news comes in threes like the buses, I feel sure FDI will be one of the other two for me. We will see!

Ray A,

Pleased for you re your accident insurance, it's rare that the other party admits full liability these days I believe.

Re FDI, the price has again drifted, and suggests that if news is imminent, it may not be as good as we hope, IMO.

However, even if that is the case, we are profitable, have a market cap of under 60 million, and cash and AFD shares worth over 17 million in the bank.

Buffels River is expected to return around 2.5 million approx in a full years production, with bonuses possible, and Avontuur and Oena mines will contribute around 1 million in their current status, more when their refurbishment is completed, and JV's started.


Add to this the marine gravel project, Daly City Venture bulk sampling, Botswana and USA exploration, and we have a pretty vibrant company, well funded, and with superb potential IMO.

Andy,

Yes, news rarely meets all the hopes but as you point out FDI is moving forward on many fronts and whatever we hear, downside must be limited in the mdium term. Re accident insurance, I was fortunate as police report did not give the other party much option!

Chart looks sickening....next stop must be 75 pence.

Leaila25,

Yummy, love to add some at that price!

Don't worry it may get to 50 pence as well...........chart says it all.

yum yum!

I'll wait for that then, i will be able to buy so many more,

yep u do that so mean time these are a strong sell.

laila25,

Only if you take a short term view, long term these are undervalued IMO.

Just like DMR then.

laila25,

No I wouldn't say that at all!

But disagreement is what makes a market!

yes I would say no as well coz DMR is a ten bagger from currrent levels unlike FDI.

You're not Welsh by any chance are you Laila25, and prone to hanging out on the YOO threads?

queen1,

LOL!

Today's trades don't suggest a success at the Groen River is about to be announced to me.

We shall have to wait and see, but at least they should have other news to balance any setback at the Groen IMO, as we are expecting news from Botswana, Daly City, Buffels River, Oena, and Avontuur, plus the long awaited marine gravel project at Hondeklip Bay.

At least FDI found support after the early selloff.

I hope I'm wrong, but the vibes aren't good,

Down again today.........what a dog of a share....good job most stayed away when this thread woz started.