Firestone raises cash for diamond investment

Botswana-focused Firestone Diamonds said it has conditionally placed 35,873,480 new shares at 20 pence each to raise approximately 7.2 million (P85.3 million) before expenses. The money will be used to commission a mine at BK11 near Orapa, commence resource development at BK16 and provide general working capital.

In a statement on Wednesday, Firestone said mine development planning is continuing for the BK11 kimberlite, and production commence in 2010.

"We believe that we will be able to make a decision to develop a new mining operation on BK11 following completion of the final phase of evaluation work, with production commencing in mid-2010," it said.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

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