Firestone plans First Diamond Tender In 4th Quarter

Monday, September 06, 2010

Firestone Diamonds says it has reached production targets ahead of schedule and recovered a high quality diamond at its BK11 Mine, raising its expectations for the average value of output at the mine.

In a statement, the company says early recoveries included a 13.7-carat stone with value estimated at USD5 000 per carat.

Chief Executive Philip Kenny says the recovery is very significant and confirms management's expectation that larger diamonds will be recovered at BK11.

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