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,

No, but I expected we would hear something around this time, as there is quite a bit of possible news potentially in the pipeline.

Monday morning could be interesting, as Friday's rise suggests that some people are anticipating nrews, and if no RNS is released, we could see further buying into the speculation.

Ray A,

No, but I expected we would hear something around this time, as there is quite a bit of possible news potentially in the pipeline.

Monday morning could be interesting, as Friday's rise suggests that some people are anticipating nrews, and if no RNS is released, we could see further buying into the speculation.

Andy,

Good point and momentum puts PK on the spot to say something.

Looks like a holding statement to me, reacting to the sudden upward sp - could make for an even more volatile share price until the operations update is formally made. Hang on to the rollercoaster ride.

Firestone Diamonds PLC
09 October 2006



Firestone Diamonds plc

Operations update



LONDON: 9 October 2006



Firestone Diamonds plc ('Firestone' or 'the Company'), the AIM-quoted diamond
mining and exploration company, announces that it has been making good progress
in respect of its plans to expand its project portfolio in South Africa and
Botswana, as outlined in the Company's interim results announcement of 31 March
2006. The Company expects to be able to provide an update in this regard
shortly.



For further information:

Philip Kenny, Firestone Diamonds +44 20 8834 1028 / +44 7831 324 645
Leesa Peters, Conduit PR +44 20 7429 6600 / +44 7812 159 885
Jamie Cumming, Bell Lawrie +44 141 314 8103 / +44 7768 044 620




www.firestonediamonds.com

hobbst,

I agree, this reads VERY positively IMO!

Clearly they have something to announce, and it can't be too far away either.

I know PK is presenting in the city on Wednesday, so there is a chance fo an RNS Wedneday morning I think, as he will surely want to make the most up to date presentation, and therefore needs to announce to the market beforehand.

Looking at the wording, it may be a new project in my opinion, and either in SA or Botswana by the looks of it.


"to expand its project portfolio in South Africa and Botswana"


Wednesday morning could be very interesting!

It will be nice to have a sustained move northwards after months of drifting south.

queen1,

It certainly would!

Not much interest this morning, if there is an RNS due, I would expect it tomorrow, before PK presents in the city.

Two good days in a row Andy, whatever next?!

queen1,

An RNS tomorrow morning?

Let's hope we can make it three good days in a row!

RNS!

Click HERE




Firestone Diamonds PLC
11 October 2006

Firestone Diamonds plc

Prospecting licences granted over the Tsabong kimberlite field in Botswana

LONDON: 11 October 2006

HIGHLIGHTS

Prospecting licences granted over the Tsabong kimberlite field in
Botswana, one of the largest diamondiferous kimberlite fields in the world,
with 67 known kimberlites, of which 17 are diamondiferous

Tsabong contains many large kimberlites, including the 180 hectare M1
kimberlite and 5 kimberlites larger than 50 hectares

Known kimberlites have not been evaluated with modern techniques

Good potential for discovery of new, large diamondiferous kimberlites

Threshold for economic viability in the Tsabong area is modest - 20-25
cpht and diamond value of $100 per carat

Exploration and evaluation plans to be finalised by end October 2006,
following which field work will commence

Firestone Diamonds plc ('Firestone' or 'the Company'), the AIM-quoted diamond
mining and exploration company, is pleased to announce that it has been granted
new prospecting licences over an area of approximately 5,000 square kilometres,
covering the entire Tsabong kimberlite field in Botswana.

The Tsabong kimberlite field is located in south western Botswana, approximately
280 km south west of the Jwaneng Mine, which is the world's biggest diamond
mine. Tsabong is one of the largest diamondiferous kimberlite fields in the
world, containing 67 known kimberlites, of which 17 have been proven to be
diamondiferous. Tsabong is noted for the exceptionally large size of many of
its kimberlites, in particular the 180 hectare M1 kimberlite, which is one of
the largest diamondiferous kimberlites in the world. The Tsabong field also
contains 5 kimberlites each larger than 50 hectares and 30 kimberlites between
20 and 50 hectares in size.


Philip Kenny, CEO of Firestone Diamonds, commented today: 'The acquisition of an
entire diamondiferous kimberlite field in Botswana is a very significant
development for Firestone. With the kimberlite exploration and evaluation
expertise that we now have in the Company, and with our cash and cash flow from
mining operations in South Africa, we will be able to move the Tsabong project
forward rapidly and aggressively. The probable development by De Beers and
African Diamonds of a new diamond mine in the Orapa area on the AK6 kimberlite,
which was originally discovered and evaluated in the 1970's and considered at
that time to be a small, low-grade kimberlite, provides an indication of the
potential that still remains in Botswana. I look forward to updating
shareholders on our plans for Tsabong as they develop in due course.'

Ray A,

This RNS certainly reads well, in particular I like this snippet;


"Tsabong is one of the largest diamondiferous kimberlite fields in the
world, containing 67 known kimberlites, of which 17 have been proven to be
diamondiferous. Tsabong is noted for the exceptionally large size of many of
its kimberlites, in particular the 180 hectare M1 kimberlite, which is one of
the largest diamondiferous kimberlites in the world. The Tsabong field also
contains 5 kimberlites each larger than 50 hectares and 30 kimberlites between
20 and 50 hectares in size".
----------


IMO this licence win has massively increased FDI's potential and prospects, and hopefully, this will be reflected in a higher market price in due course.

AFD's AK6 (probable) mine was only considered to be 3 hectares in size when found, and is now 10 hectares in size, whereas FDI's M1 is 180 hectares!

I also think the two pronged exploration approach planned is the correct one, as this gives the prospect of more newsflow from either new kimbelite finds, or results from bulk sampling the known ones.

Andy,

Thanks for that, I agree a very positive picture for Botswana

Andy,

Thanks for that, I agree a very positive picture for Botswana

Andy,

Thanks for that, I agree a very positive picture for Botswana

Ray A,

I feel the market was expecting GRV news, so the price is static at the moment, but I think once people have had an opportunity to digest this news, and PK has presented at Merrill Lynch this afternoon, hopefully this enormous increase in exploration potential will be taken into account with a higher share price.

Interestingly AFD is up today, on no news!

Andy,

Yes, I agree. Had considered top slicing some recent purchases but decided to hold back when profit takers rapidly pulled SP back a little.

Interesting comment re AFD, reminds me when HNR RNS pulled SEY back for news already in public domain!

ray A,

Well I closed my spreads at the top, but held onto my stock.

Since then they have played around with the price, PK is due to speak anytime now, so we may see a few late buys if the audience like what they hear.

Andy,

Not tried spreads yet. Still, decided to sell a few of recent purchases at end of day and got 124.9 p, the highest sell SP I've seen today. Not bad after picking them up at 86.7p a couple of months ago. Kept plenty back for further travel North! SP looks pretty solid today despite all the profit taking.

Ray A,

Yes it's not a profit until it's in the bank, and with a 50% markup in quick time it's not a bad move to secure some profits IMO, well done!

It will be interesting to see what happens tomorrow, whether there is any follow through with volume.

What a good day!