News Bureau

Firestone recovers 103K ct in March end Quarter

Firestone Diamonds plc provided its quarterly update on commissioning activities at its Liqhobong Diamond Mine for the quarter ended Q3- March 2017. During the quarter, commissioning activities largely complete, final ramp up progressing on track & 103,000 carats recovered at a grade of 16.1 carats per hundred tonnes.

Firestone recovery of over 31 special stones of larger than 10.8 carats & also continued recovery of fancy yellow diamonds. First two diamond sales held during the quarter in Antwerp saw all 127,590 carats offered for sale sold, achieving an average price of US$107 per carat for total sale proceeds of US$13.7 million.

Stuart Brown, Chief Executive Officer, commented: "It is pleasing to see that the improvements and modifications made to the plant during commissioning have improved performance.

During the quarter, we have seen a steady improvement in the grade with our daily recovery exceeding 20 cpht at the end of March following the implemented modifications. 103,000 carats were recovered in the quarter including 31 special stones larger than 10.8 carats and post the period; we were delighted to recover our first plus 100 carat stone.

The final commissioning phase has seen the mine achieve nameplate capacity on numerous occasions which is very positive, particularly during the rainy season. We are now starting to move towards the better quality ore areas which will be treated towards the end of the current quarter and l look forward to providing further updates as we complete the final ramp up phase over the coming months."

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