Liqhobong Diamond Mine

FIRESTONE DIAMONDS SELLS A WHOLE LOT OF DIAMONDS IN Q3

Firestone Diamonds has published its diamond and sales results for the third quarter of the company’s 2018 financial year (ended March 31, 2018). According to the company, it sold 217,380 carats from its Liqhobong mine in Lesotho, compared to the 156,942 carats sold in the second quarter.

 

The miner achieved an average value of $81 per carat, realizing revenue of $17.6 million, compared to $12.5 million in the previous quarter. As for production, Firestone produced 192,604 carats in Q3, compared to 180,709 carats in Q2.

 

Firestone’s CEO Stuart Brown said: “Despite experiencing several disruptions during the quarter due to heavy, above average rainfall, the orebody has started to deliver the higher grades we have been expecting and so carats produced increased compared with the previous quarter. In the first nine months of the financial year, Liqhobong has recovered fewer carats than planned due to the adverse weather and higher water levels in the main pit […] We still expect to achieve annual production at the lower end of guidance of 800,000 to 850,000 carats, as mining progresses in the higher grade ore”.

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