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

A 25,000 BUY went through just before the bell today, a good omen?

Still a dog of a share.

Laila25

But what a pedigree!

RAy A

Nice one!

I saw that protected trade at the end of the day, a good sign IMO.

Andy,

Another 25,000 BUY late in the day - presume "T" means protected?

Ray A,

Yes, I like to see those at the end of the day, providing they're buys of course!

A steady trickle of blue today left the SP unchanged. We should have Groen River update within next week - I hope! FDI stated "Results from first pit are due in September". I do hope we are not kept waiting again. Any views?

Ray A,

I'm not sure Groen River news is due yet, but they have a few projects on the go so they could report on any of them at any time now IMO.

I feel we will hear something in the next couple of weeks or so, but that's just a guess, not based on any known fact.

PK must be aware that the Sp needs a bosst, and only positive news will do that IMO.

Even FDI's AFD stake is dropping in value as AFD is retracing now.

Andy,

Thanks for that, I guess we just have to wait but agree PK must be aware of need for news.

Ray A,

He sure is!

What on earth is happening to the FDI share price? It's dropping like a stone when others with far less assets and potential are shooting like rockets. What's the deal??!!

queen1,

Not sure to be honest.

It was nice to see the buying in support, which reversed the decline quickly.

Could only see BUYS today yet SP remains unchanged - why, I wonder?

Andy,

A 10% lift in the SP today looks good, have you heard any news?

Ray A,

No, but I expected we would hear something around this time, as there is quite a bit of possible news potentially in the pipeline.

Monday morning could be interesting, as Friday's rise suggests that some people are anticipating nrews, and if no RNS is released, we could see further buying into the speculation.

Ray A,

No, but I expected we would hear something around this time, as there is quite a bit of possible news potentially in the pipeline.

Monday morning could be interesting, as Friday's rise suggests that some people are anticipating nrews, and if no RNS is released, we could see further buying into the speculation.

Andy,

Good point and momentum puts PK on the spot to say something.

Looks like a holding statement to me, reacting to the sudden upward sp - could make for an even more volatile share price until the operations update is formally made. Hang on to the rollercoaster ride.

Firestone Diamonds PLC
09 October 2006



Firestone Diamonds plc

Operations update



LONDON: 9 October 2006



Firestone Diamonds plc ('Firestone' or 'the Company'), the AIM-quoted diamond
mining and exploration company, announces that it has been making good progress
in respect of its plans to expand its project portfolio in South Africa and
Botswana, as outlined in the Company's interim results announcement of 31 March
2006. The Company expects to be able to provide an update in this regard
shortly.



For further information:

Philip Kenny, Firestone Diamonds +44 20 8834 1028 / +44 7831 324 645
Leesa Peters, Conduit PR +44 20 7429 6600 / +44 7812 159 885
Jamie Cumming, Bell Lawrie +44 141 314 8103 / +44 7768 044 620




www.firestonediamonds.com

hobbst,

I agree, this reads VERY positively IMO!

Clearly they have something to announce, and it can't be too far away either.

I know PK is presenting in the city on Wednesday, so there is a chance fo an RNS Wedneday morning I think, as he will surely want to make the most up to date presentation, and therefore needs to announce to the market beforehand.

Looking at the wording, it may be a new project in my opinion, and either in SA or Botswana by the looks of it.


"to expand its project portfolio in South Africa and Botswana"


Wednesday morning could be very interesting!

It will be nice to have a sustained move northwards after months of drifting south.