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

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?

Master.

Once again I followed you and made money on this.

Ignore the detractors. There are only a few on here who are worth listenining to and you are certainly one of them.

Thanks

DD

on the move again

From the "UPS" earlier ..............

FDI 29.875p (29.75 / 30p)

Reason :UP today with volume on a very tight spread and well oversold on the Indicators.
Recovery in the Diamond Market has key interests in South Africa with certain zones already demonstrating large potential.

Intraday

3 month ,RSI, S Stochastic,MACD and 50 days MA

Charts - 2 days

It keeps moving higher on good volume, now over 2M on the LSE

spread 31.50 - 32.75p +3p
level 2 is 4 v 1

New article on today's mine announcement NEWS!, click HERE

I'm looking at future forecast earnings here and the ridiculous present market cap......bonkers...! this should be at the very least 50p now......the market is sometimes nuts !.

required field,

Both Andy and myself were at the AGM and were most encouraged, I am sure that Andy won't mind my copying his synopsis here:

A very positive AGM, IMO, and PK and TW presented the BK11 project, and highlighted the rapidity of licence to production, unheard of in Botswana!

Here are some points from my notes, if I have missed anything hopefully one of the other attendees can post or correct later.

----------

BK11

The top 120 metres is soft rock, easily and cheaply processed, and below this is primary kimberlite, which is harder.

Coarser stones at depth may increase the realised value!

Phase 1 production Q2 2010 650,000 TPA
Phase 2 production Q3 2010 1,500,000 TPA
Possible Phase 3 Production Q4 2010 up to 3 million TPA (to possibly include other kimberlites such as BK16 processing.)

Bonte Koe plant expected onsite January 2010.

Initial production will be diesel powered, and will add around $1 to costs, but initial costs may be lower than the $6.50 previously announced, so around $7 until the electric power is connected, around one year or so after production commences.


The key point is BK will act as a hub for neighbouring (within 20km) otherwise uneconomic kimberlites, where the low cost of around US$1 per ton trucking costs would make them economic due to the BK11 infrastructure.

Next projects BK16, and later AK21, AK22, and AK23.

Possible third party processing for other licences in the area, utilising the BK11 infratsructure.


Jwaneng Tailings Project.

This can now move forward as Debswana have resolved their other issues, and still expected Q1 2010.


Tsabong

Dicussions with possible JV partners not fruitful so far, some "opportunistic bids", but not of interest to FDI, who can finance out of production in the future if no acceptable bids are received.

Plus some further comment from myself:

Only detail to add from my notes. A further plus for BK11 is that the Assortment (shape, colour etc) is particularly good. The cheap processing of the soft rock is achieved by 'scrubbing' to liberate the diamonds, instead of expensive rock crushing. Further into the future to follow a successful Tailings plant at Jwaneng, PK anticipates more Tailings plants at other Debswana mines.

Thanks for that...looks promising...

And still no posts!!!!!!!!!