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

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?

As Andy mentions in post 501 news is due over the next few months on the various prospects. Perhaps the strength is a sign that good news is coming and a few astute buyers are buying before the event. For what its worth, I noticed from another internet source that interest is coming from a Canadian source. Canadians apparently tend to value exploration companies at higher levels than in London.

SCAM WARNING! A phone call from New York offered to buy my FDI for between 5 and 10 and would I give them my email!!! Like heck I would! This has happened to me before with FDI several months ago and nothing shifted the SP then. I wonder what their plan was if I had obliged?

Anyone else had this approach?

Not happened to me Ray A but thanks for the heads up. No idea what they would have done with your email except sell it on to other organisations.

Ray A,

Thanks for the warning!

I guess the scam is the usual one of them saying someone wants the shares for a takeover bid, and are willing to pay a ridiculous premium to buy them from you.

When you have agreed to sell, they introduce the fee required BEFORE they will make the sale!

In otherwords, YOU have to send THEM money, before THEY send YOU money!

Guess what happens after you remit the funds?

Nice work if you can get it....

Andy,

Thanks, I guessed as much! Not falling for that one! However, since I have been phoned on two occasions re FDI, I have emailed PK so he is aware of use his Share Register is being put to.

Nice work Ray A.

FDI have issued a Tsabong news update!

RNS - Click HERE


Comment can be found Click HERE

I didn't think I'd ever see the day when FDI was sub 1 again. It's a crazy price IMO.

Yes surprising sp falling as final results due before Christmas.

queen1, halifax,

Whole AIM market seems to be suffering, not just FDI.

Any news is being sold into, IMO, and so I have no hopes for a higher SP after the results have been published.

Sadly it looks like we have to be patient a little longer!

Good to see that you're both still in, very frustrating though it is!

Andy, queen1,

I must admit I got right out about two months back although not soon enough. Thought it worth dipping toes in water today at 99p, long term, that has to be good!

Ray A,

Welcome back!

Finals are due in the next couple of weeks, but i don't expect any bulk sampling news until around AGM time at the earliest.

Your buy was certainly well timed IMO!

Well done for coming back in Ray A. I still believe FDI has a compelling case for future share price outperformance and am sticking with it!