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

Good news and the market has, for once, reacted accordingly:

Firestone Diamonds said it has received encouraging results from the MK1 kimberlite at its Tsabong project in Botswana after initial grade estimates 20 carats per hundred tonnes. The company said bulk sampling for the microdiamonds will commence shortly.

Philip Kenny, chief executive said: 'We have 83 kimberlites in our licence area and with 14 high interest kimberlites to be bulk sampled in 2008 and bulk sampling expected to commence in March, we believe that the prospects for a significant economic discovery are good.'

nice to see this one back on track and my holding well back into profit again.Future looking good.

queen1, Gus,

An excellent RNS, IMO, FDI are rightfully being re-rated after the most positive announcement Firestone have ever made, IMO.

If this is confirmed by further samples, at 20 CPHT at around $100 per carat, this would be an economic mine!

It should be stressed that further results are required to confirm, but the grade increasing the deeper they drilled is very encouraging!

My recent top ups were well timed for a change!

Exciting times chaps and I'm glad I've stayed with this one.

queen1,

Interesting that the SP has held around the recent highs, not much stock around apparently...

Yes, it's good to see Andy, particularly considering the market falls of the last 2 days.

Andy, queen1,

Certainly looking good and glad I topped up prior to the news breaking. What sort of time scales do we envisage? With macro diamond bulk sampling soon to start, could results be expected within months? If all goes well as anticipated, I guess it will be two or three years before production could start. Confidence is certainly boosted with FDI use of Tinus OOsterfield as independent consultant.

All,

A note for your diary, FDI are presenting at the next Proactiveinvestors.com Forum, in London, on the 10th April, commencing at 18:00.


I will post a link to the registration page when available.

Thanks Andy

Look forward to it,thanks Andy.

For registration and further details, please click HERE


Proactive Investors One2One Forums

Thursday the 10th April 2008

The directors of Meditterranean Oil & Gas (AIM:MOG)and Firestone Diamonds (AIM:FDI) will be hosting an investor presentation on Thursday the 10th April at 6pm with Q&A to follow.

After the presentations are complete the directors will also be available to take questions during a free canapand wine reception.

5:45pm for a prompt 6:00pm start at the Chesterfield Mayfair Hotel 35 Charles Street, Mayfair, W1J 5EB

THe nearest tube stations are Green Park, a 5 minute walk away, and Bond Street, about 7-8 minutes walk.

We look forward to your attendance. Please register using the link above.

If you have any problems with registering please contacting us here with all the neccessary details and we'll register you manualy

All,

Is anyone here planning to attend the FDI presentation at proactiveinvestors next week?

It would be nice to put a few faces to names for us stalwarts of the FDI thread, if anyone is considering going.

THe Proactive events are informal and friendly, with a mixed audience of professional city and private retail investors, and the networking afterwards is always interesting, giving you the chance to ask those questions you always wanted to ask to the directors, as well as chatting to other private investors, and exchanging views on stocks.

It sounds good Andy but unfortunately not. I hope you have a good, insightful time.

Very disappointed to see FDI fall on such a good day for the markets in general.

Just a quick reminder!


The directors of Firestone Diamonds are presenting at Proactiveinvestors this coming Thursday, in Mayfair, London, commencing at 18:00.

These are great evenings for the professional or private investor to attend, and the opportunity to chat informally afterwards with the directors, and fellow investors of all levels, is an opportunity not to be missed.

The directors of Meditterranean Oil & Gas (AIM:MOG), and Enegi Oil Plc (AIM:ENEG) are also presenting.


Registration and further details can be found HERE




Hope some of the posters here can attend, would be great to meet up.

I won't be able to make this Andy but I hope you have a good time.

Likewise Andy, I cannot make it but greatful to you for bringing this to our attention. Have a good meeting

Andy, have just registered, see you tomorrow. Thanks for posting the link.

Ray A,

Look forward to seeing you!

Nice pick up in momentum today.

http://momentum-trader.co.uk

bill,

And again today!

I think this is the build up before the anticipated news releases, as they have presented to city institutions last week, and retail investors at proactive recently.

looking healthy to me!