Firestone Diamonds

Firestone Diamonds’ strategy is to become an efficient mid-tier diamond producer through the development of its flagship asset, the Liqhobong Mine, in the Lesotho Highlands.
The Liqhobong Diamond Mine is owned 75% by Firestone and 25% by the Government of the Kingdom of Lesotho. The Company commenced construction of the Main Treatment Plant and related infrastructure at the Liqhobong Diamond Mine in July 2014 with initial production, 1 million carats per annum, targeted during Q4 2016.

Lesotho is emerging as one of Africa’s significant new diamond producers, and also hosts the Letseng Mine as well as the Kao Diamond Mine and the Mothae development project of Lucara Diamond Corporation.

The Company also owns the BK11 mine in Botswana which remains under care and maintenance and Lahtojoki in Finland which contains known diamond-bearing kimberlites of potential economic interest.

In July 2015 the Company entered into a conditional agreement for the disposal of the BK11 mine and Botswana operations to Tango Mining Limited (TSXV: TGV) for a total cash consideration of US$8.0 million.

The Company also owns the Lahtojoki project in Finland (100%) and is currently looking to find a suitable joint venture partner to execute the required bulk sample work for the next stage of the project.

Type
Public
HQ
London, GB
Size (employees)
38 (est)
Firestone Diamonds is headquartered in London, GB

Firestone Diamonds Office Locations

Firestone Diamonds has offices in London, Gaborone, Cape Town
London, GB
Gaborone, BW
Cape Town, ZA

Firestone Diamonds Metrics

Firestone Diamonds Summary

Market capitalization

£161 M

Closing share price

£0.51
Firestone Diamonds's current market capitalization is £161 M.

Firestone Diamonds Financials

Firestone Diamonds's revenue is £360 K in FY, 2016 which is 86.3% decrease from the previous period.
FY, 2016FY, 2014

Revenue

£360 K£2.63 M

Cost of sales

£5.65 M

Gross profit

£-3.03 M

Gross profit Margin, %

-115.3%

Operating expense total

£4.3 M

Firestone Diamonds Market Value History

Firestone Diamonds Online Presence

Firestone Diamonds Company Life

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