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,

If you haven't been before, the hotel is easy to find and only a short walk from the nearby tube stations.

I have just posted this on ADVFN, so posting here for MAM FDI holders.

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All,

Very upbeat presentation last night, the room was packed with standing room only at the back, and FDI finished off an excellent evening by drawing the most applause as Phil Kenny managed to talk through around 40 slides in 25 minutes!, surely a record there?

FDI'S focus, and quite rightly so in the current economic climate, IMO, is on early cash flow, so the presentation concentrated on the new Debswana tailings project, and BK11.

The Debswana tailings project quite simply secures FDI's future, as it will produce a guaranteed income for the life of the project, regardless of global diamond prices.

Initially FDI will process the coarse tailings at Jwaneng, which consist of > 30 Million tons of material crushed to 35mm, and receive $5 per ton. CAPEX = $40 m.

There is the potential to roll out the modular plant propsed to other Debswana tailings dumps, that have > 200 MT in situ, (finer @ 12mm), and still growing! Therefore there is the potential for over $1 billion revenue over a 20 year period.

The initial production rate is proposed to be > 2 MTPA, and the option to double capacity in 2012 is being considered.

Debswana is responsible for the supply of power, water etc. etc.

FDI will have a fenced and secure "green zone" within the Jwananeg "red zone".

The plant is straightforward to design and construct, being similar to Bonte Koe, and will be financed by the plant partner, with FDI to finance and operate the operational side of the project.


BK11

Results due within 5 weeks, ie end of Q1.

The stones will need to be valued for current values, but FDI still believe BK11 wil be economic at current diamond prices.

Once known, this may be sufficient for a mine development decision to be made, otherwise further drilling will be done and a decision made in Q3 09.

The plant required to process the resource definition is ready to transport from S. Africa, a simple journey along tarmac roads.

PK stated that FDI wee talking to potential partners "of substance" regarding Tsabong, and would only be interested in doing a good deal, otherwise they would wait and devlelop when the economic climate allows.

FDI are funded through to 2010.


Please note this was taken from my notes, to the best of my recollection, and from referring to the handout given, and if anyone spots any errors or ommisions, please feel free to correct.

Excellent, thanks Andy.

Recent CEo interview, clickHERE

Andy,

Thanks! A cogent confidence building interview, I see more trading opportunities as newsflow develops!

No comment since early April!!

capper,

We don't want to put the mockers on it!

Well it had a helluva finish to the day - up 30% by the end! What's brewing?

It has come to life for the last month and today is having a BREAKOUT

A last minute addition to next Tue Proactive Investors evening, here's hoping for some worthwhile news!

Tuesday 8th September
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB Starting at 6pm
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There has been a further change in the line up for our One2One Investor Forum that you are invited to. We are delighted to let you know that Philip Kenny of Firestone Diamonds (AIM: FDI) will now also be joining us on Tuesday 8th September, 6pm at the Chesterfield Mayfair Hotel alongside the directors of Metals Exploration (AIM: MTL), Toro Energy (ASX: TOE) and EMED Mining (AIM: EMED) (click each company for in-depth information).


Firestone Diamonds plc is an international diamond mining and exploration company with operations in Botswana and in Namaqualand, on the west coast of South Africa. These areas are the world's largest and fourth largest producers of diamonds, respectively, and the lowest cost producers among major diamond producing countries. Firestone has extensive interests in Botswana, which produces over 34 million carats per annum, worth over $3.5 billion. Botswana is considered to be one of the top countries in the world to explore for kimberlite - the primary source rock for diamonds. Namaqualand 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. Firestone is also exploring for kimberlite in the US on the Laurentia craton, which extends into Canada, where it hosts a number of diamondiferous kimberlite deposits.


Arrival at 5:45pm, for the presentations to begin at 6pm and end at 8pm. Following the presentations will be a complimentary bar and an assortment of the finest seasonal hot & cold canap giving our guests the opportunity to liaise and network with the directors and other attendees. It is expected that this forum will be oversubscribed, so please register to avoid disappointment.

Please register your attendance here & we look forward to seeing you.

T: +44 (0)1202 770386
E: action@proactiveinvestors.com
W: www.proactiveinvestors.co.uk

Ray A,

Thanks, will you be going?

I plan to be there, so hope to see you!

Andy,

Yes, booked in today, see you there. Built up a little trading stock recently and topped up this morning at 27.75p, probably for the last time!

A follow through should carry on next week after the large volume and MACD crossing divergence

Apart from the chart, is there any special reason to buy? The sp fell off a cliff a little over a year back,presumably on account of their debt.

chessplayer,

What debt?

chessplayer,

Rumours of a large discovery were circulating for a while, and the SP dived when nothing was announced.

Dipped my toe in.
So far so good

Master RSI,you certainly made a good call on FDI!
Any more like them up your sleeve?

Excellent increase in value today......so many minnows are recovering now...

Still on the rise,up 75% since start of September,and 50% in a week!
Any views on where we are heading?