Firestone Diamonds PLC Liqhobong Mine Enters Final Commissioning Stages (8274L)
06 October 2016 - 5:00PM
UK Regulatory
TIDMFDI
RNS Number : 8274L
Firestone Diamonds PLC
06 October 2016
6 October 2016
Firestone Diamonds plc
("Firestone" or the "Company") (AIM: FDI)
Liqhobong Diamond Mine Enters Final Commissioning Stages
Firestone Diamonds plc, the AIM-quoted diamond mining company,
is pleased to announce all major construction activities are now
complete at its Liqhobong Diamond Mine ("Liqhobong" or the
"Project") in Lesotho. Mining activities have started and
commissioning of the processing plant is now in the final stages.
Liqhobong is owned 75% by Firestone and 25% by the Government of
Lesotho.
Highlights
-- Three million man hours exceeded without a lost time injury
-- All major construction activities now complete
-- Historic stockpiles being processed in wet plant commissioning
-- First blast and mining of primary ore commenced for stockpiling
-- Final commissioning to conclude in coming weeks
-- First diamonds from commissioning phase expected to be recovered in October
-- Ramp up to commercial production on track to begin this quarter
As at 5 October 2016, all major construction activities were
complete and over three million man hours have been exceeded
without a single lost time injury. Commissioning is now well
advanced with the historic stockpiles being processed initially as
part of the wet plant commissioning phase. Over the coming weeks,
the Company expects to complete the commissioning of the recovery
plant and sort house in anticipation of first diamond recoveries
later this month. In addition, Firestone has begun mining of the
main pit kimberlite and maiden ore is being stockpiled for
processing once the historic stockpiles have been processed.
Firestone will include further details of the commissioning
process in its next quarterly update, expected in the week
commencing 17 October 2016.
Stuart Brown, Chief Executive Officer, commented:
"I am delighted to announce that Liqhobong has entered the
start-up phase, with all major construction activities now complete
and commissioning of the plant well advanced. The first ore from
historic stockpiles has been put through the plant and the Company
has begun the mining of the main pit kimberlite as it begins
production activities in earnest.
Firestone remains fully financed throughout its ramp-up period
and we look forward to commencing diamond sales, from January 2017,
and providing further updates in due course."
Enquiries:
+44 (0)20 8741
Firestone Diamonds plc 7810
Stuart Brown
+44 (0)20 7409
Strand Hanson Limited (Nomad) 3494
Stuart Faulkner
Richard Tulloch
James Dance
Macquarie Capital (Europe)
Limited (Joint Broker)
+44(0)20 3037
Raj Khatri 2000
Nick Stamp
Mirabaud Securities LLP (Joint
Broker)
+44 (0)20 7878
Rory Scott 3360
+44 (0)20 7878
Ed Haig-Thomas 3447
Tavistock (Public and Investor +44 (0)20 7920
Relations) 3150
+44 (0)7788 554
Jos Simson 035
Emily Fenton
Background information on Firestone
Firestone is an international diamond mining company with
operations focused on Lesotho. Firestone is currently in the
process of commencing production at the Liqhobong Mine Development
Project in Lesotho to become a one million carat per annum
producer.
Lesotho is emerging as one of Africa's significant new diamond
producers, and hosts Gem Diamonds' Letseng Mine, Firestone's
Liqhobong Mine, as well as Namakwa Diamonds' Kao Mine and the
Mothae development project.
For more information please visit:
www.firestonediamonds.com.
**ENDS**
This information is provided by RNS
The company news service from the London Stock Exchange
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