Firestone to raise home-grown capital finance

Friday, April 09, 2010

Junior diamond miner, Firestone, says it is currently in discussions with its bankers in Botswana to raise the additional $3 million (P21 million) required to finance development of the BK11 project and to facilitate expansion of the plant's capacity.

The Botswana-focused miner, which is listed on the London Stock Exchange and is aiming for a secondary listing on the BSE, is in the process of developing the BK11 kimberlite project in Tsabong.

"While we are disappointed not to have met our budget for BK11, we plan to finalise arrangements to ensure that the required funds are put in place as soon as possible," the CEO of Firestone, Philip Kenny, said in a statement.

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Firestone to raise home-grown capital finance

Junior diamond miner, Firestone, says it is currently in discussions with its bankers in Botswana to raise the additional $3 million (P21 million) required to finance development of the BK11 project and to facilitate expansion of the plant's capacity.

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