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

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!

Queen1,

Not yet! Also, the two wins were over the last nine years, so not so hot! Picked up recently with BLNX when results were announced, however, this is an FDI thread so no more here!

Fair enough. Well I hope for all of our sakes that FDI propels you to that 3rd victory!

Me too!

Is it like the Jules Rimet? first to win it three times keeps it for good?

Thanks both for your good wishes! No is the answer, Andy, cup has to be there to fight over again next year!

We are not too serious an investment club making only small contributions each month. Given a private room at local hotel for a 'social' over a pint! Have our Annual Dinner there beginning of July for presentation of the cup!

Well let's hope the ribbons are your colour Ray A......due to FDI!

RNS today but not the one we are waiting for!

RNS Number : 9163W
Firestone Diamonds PLC
18 June 2008


18 June 2008


Firestone Diamonds plc (the 'Company')

Exercise of Options


Pursuant to the exercise of options under the Company's employee share option
scheme, the Company has allotted 58,396 ordinary shares of 20p each in the
Company and has made application to the London Stock Exchange to be admitted to
trading on AIM

Excellent RNS this morning, BK11 looking like a mine, and MK1 under further review due to clay content offsite.

Muted market reaction, which is disappointing, but par for the course at the moment.

I hear there may be a broker note due,but it looks as though MK1 needs to generate some good news to really drive the price forward.

MK45 is looking promising, and that's a large pipe too.

What a ridiculous market reaction to some great news - down over 4% as I write! On this basis would we have seen falls below 1 had the news been bad?!

Plummeting like the proverbial stone now. Perhaps my sarcastic 1 comment will prove to be a little too near the knuckle. Completely bizarre.

Must say I agree with you queen1, would have thought the RNS would underpin the price. Still we live in difficult markets and there maybe some that wish to take profits to offset losses elsewhere. I suppose if you get a few rushing for the exit, it has a greater effect on the sp of this type of stock. sp 156p.

The market reaction to the news is what I would have expected after reading the RNS. I think the price will fall even further from here.
Why would De Beers end the JV if it was going to make them money?
IMO It will be some considerable time before FDI will make a profit worthy of the market cap of 96m.