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

Ray A,

I will be there all being well, so I look forward to seeing you.

Deja vu!
I hadn't checked my shares for a few days when I received the RNS from FD via e-mail at work. While I was considering how many more cases of the 2005 claret's to invest in (I say invest although they could increase ten-fold and I won't be selling), I check the price and they have gone down!!??
AGM should be interesting.

NPoston

You could be forgiven for being dejected by more "Red" today. However, it seems that many FDI investors could benefit from a visit to their optician to cure short-sight!

I was at the AGM with Andy when PK was encouraging, although still not jam today tomorrow may not be too far away.

The progress made at Tsabong with rapid announcements of now 7 potential kimberlites. There are new projects with De B to increase low risk cash flow from Buffels River. At Bonte Koe major plant has been put in for more sophisticated crushing and should meet increased rate within Feb. Oena, they are still to appoint a contractor but problem has been to get contract terms right. More work to do at GRV but now further south. Hope this brief info gives you some confidence!

I've been in since these were 1 well over 2 years ago. I enjoyed the ride up to 190p and have endured the fall since. I've held on as I believe strongly in the share's prospects, a view strengthened by recent posts on here. Onwards & upwards!!

Firestone Diamonds has been awarded a prospecting licence for the BK11 kimberlite in the Orapa field, Botswana and plans bulk sampling for the second half of 2007.

The BK11 prospect has produced historical grades of between 2 and 17 carats per hundred tonnes and is 20 km from De Beer's Orapa Mine and 5 km from the major new mine at AK6 being developed by De Beers and African Diamonds.

Firestone chief executive Philip Kenny said: 'With the infrastructure already available in the Orapa area and a new mine being developed 5 kilometres away at AK6, the grade required for BK11 to be economically viable will be modest.'

queen1

Firestone looks very nice but further away from production than AFD and without DeBeers involvement.

They do hold 5% of AFd which perhaps shows the management aren't stupid :-)

Sadly I don't have the cash for both

Nor me, so I'm in FDI, for better, for worse!

queen1 --- FDI going well

Indeed they are - no fall today despite more market woes. Building a good platform here I feel.

What do we think of the interim results? The SP is off but they looked pretty encouraging to me.

I agree the interims look good. I am pleased to see the j/v with De Beers at Bronte Koe increasing turnover by 90% with more to come. Keeps things ticking over while Company develops its other interests. I purchased these shares over 2years ago at 101p and stayed with them during the sp ups and downs.I believe patience will reap considerable rewards with this one. Probably a good time to buy a few more at around this 120p level.

I bought in at almost exactly the same time Guscavalier but at 2p less! I'm also certainly happy to hold and wait.

4 NEW KIMBERMITES FOUND TODAY IN BOTSWANA THATS ONE OF THE REASONS THE PRICE AS GONE UP

Parkin,

Yes, and the drilling going on on several projects at the same time.

BK11 looks interesting, that has the potential to be a company maker, but they have to do the drilling first.

And we shouldn't forget GRV.

DIDNT EXPECT THEM TO MOVE UP TODAY WITH ALL THE ACTIVATIVE GOING ON ELSEWARE BUT NICE TO SEE IT AGAIN.

moving up nicely again sp 154p. Move to this level has been gradual over last couple of months and looks more soundly based.

Gus,

Yes, rising nicely on decent volume, and some institutional buys late today too!

In the next few months, we have potential for news from Groen River, Tsabong, BK11, Orapa, Oena, Avontuur, and maybe even the USA!

I think there must also be the possibility of more toll mining deals in SA, especially once the Avontuur permit is obtained.

Good to see more institutional interest. Thanks Andy.

Gus,

Another 1 million volume today, it makes you wonder where the shares are coming from in such a tightly held stock!

We could really do with some good news now to maintain the momentum, it's hard to see much more in this rally wothout news IMO, but we shall see.

FDI is looking strong, does anyone know why the buying is occurring?

Some is in the afternoon, which maybe suggests US investors buying?

Any thoughts anyone?