Firestone Diamonds – Diamond Sale Results

Firestone Diamonds plc, (LSE:FDI) announced results from its fourth diamond sale of 2011.

Firestone’s CEO, Tim Wilkes said:

We are pleased to have been able to sell all of the diamond production offered at our recent tender, the results of which indicate that some stability has returned to the rough diamond market after the volatility of the past few months.  We remain positive about the fundamentals of the diamond market, with long term demand, which is largely driven by growth in India and China, expected to continue to outstrip supply, and expect to see prices for both Liqhobong and BK11 production increase in 2012.

Click here to read the Firestone Diamonds plc, (LSE:FDI) press release.