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

Hopefully the sp will now rebase around these levels and then forward and upwards. More or less doubling my investment but, I will stay with them since co. is developing well.

VGLTA.

queen1,

Glad you're still in, not sure about the rise, hopefully good news on the way.


Gus,

I agre, by virtue of their multiple projects, FDI have been transformed , and are well worth staying the course whilst they drill the better prospects IMO.

Andy,

Topped up yesterday after recent SP dip, surely, BK11 bulk sampling results must be just around the corner?

Ray A,

I believe they are checking the bulk sample results for Bk11, before they can release the result.

I expect a couple of pieces of news by the end of Q2, but there's always a delay!

Andy,

Topped up once more today, Q2 end getting nearer and trust we have not too long to wait for that expected RNS. again, GLTA!

Ray A,

Let's hope not, the delay is certainly frustrating, and most people expected an announcement by now.

It sems strange to have this gap after their institutional tour of a month or so ago.

It has always been Q2. I asked PK at one of those presentations if it might be before June. He replied 'before the end of Q2' even though the hosts were pushing before end of May.
PK has just returned from a two-week holiday. He was not expecting anything too early then. I doubt it will be be anywhere as far away as 30/6, more like half-way imo, and perhaps before.

Up,

Exactly, I agree.

However, this HAS slipped, and I can assure you that at Diamond Day, in February, they were not saying end of June!

IMO they need to update their timetable to reflect the current situation.

Well if he's just had a nice break he's had time to get things sorted so maybe it might even be next week! Bit of buying today....

WAS MENTIONED IN TO DAYS COPY OF SHARES ON PAGE ON PAGE 35

A well timed article which is bringing the BUYS back again

I didn't think anyone was reading Shares anymore!

Queen1,

Judging by yesterday's trades, they aren't!

Despite the blurb in their latest email claiming their tips "move the market"!, in fact the days of a Shares Mag, (or IC / T1ps.com,tip to be fair) tip moving the market are well and truly gone!

I think many that have been burned have departed the market, and those that remain are not that naive.

Queen1,

Snippet from today;s FT;

"while Firestone Diamonds firmed 0.6 per cent to 177p on talk of a positive report from one of its diamond prospects based in Botswana."

It's drifting again today Andy so the sooner the report comes, assuming that it is actually positive, the better.

queen1,

I agree, this is well overdue now.

Disappointment I can take, it's par for the course with resource stocks, but it's uncertainty that's is the killer!

Andy, Queen1,

The newsflow is deafening!! I wonder, is it too much to hope for an RNS next week?

Ray A,

My broker says it's by the end of June, which concurs with PK's "end of Q2", said about a month ago.

I know it's frustrating, but it's not long now with six non working days before the end of the month, and my guess is Weds/Thurs 25th/26th, or Monday 30th, although in reality it cold come any day.

Andy,

Yes, just got to be patient. Problem for me is more than just my "personal fortune" (!) hangs on this since I have FDI in our Investment Club Cup competition which ends this year at end of June. FDI determines whether I win this for a third time or not!!

Winner for a 3rd time Ray A? You must pass on some of your secrets to the rest of us!