Firestone Updates Definitive Feasibility Study for Liqhobong Diamond Mine

Firestone Diamonds plc (LSE:FDI) released an updated definitive feasibility study for its Lesotho-based Liqhobong diamond mine, noting that the study “confirms strong base case project economics.” If anticipated revenue from large stones over 100 carats is included, there is “significant upside potential.”

According to the press release, other highlights include:

• Financial returns reflect previously announced change of development strategy with the cessation of activities at the Pilot Plant prior to commencing construction of the Main Treatment Plant
• Revalidated initial capital costs of R1,854 million (approximately US$185.4 million)

Stuart Brown, Firestone’s incoming CEO, commented:

The updated DFS has confirmed the Board’s view that Liqhobong is a world class diamond project that will yield very good returns for all of its stakeholders. Alongside the increased diamond values previously reported, our updated numbers released today further demonstrate management’s long held belief in the compelling economics of the Project.

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