Liqhobong diamond Mine in Lesotho

FIRESTONE WIDENS LOSS IN H1, EXPECTS LIQHOBONG DIAMOND MINE TO BEGIN PRODUCTION

Firestone Diamonds, operator of the Liqhobong Diamond Mine in Lesotho, has announced its results for the six months ended 31 December 2016. Firestone reports a loss for the period of $8.8 million, compared to $4.6 million a year ago.

 

Sale proceeds totaled $13.7 million, all 127,590 carats offered for sale were sold, and achieved an average price of $107 per carat. In Liqhobong, Firestone has recovered a 37-carat white diamond, alongside “a further 20 special stones larger than 10.8 carats as well as several fancy yellow diamonds”, according to a press release.

 

CEO stuart Brown commented that “finishing the construction of the Liqhobong Diamond Mine and commencing production in October 2016 are two momentous milestones for the Company” and added that Firestone is “now working towards achieving commercial production in the coming months”.

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