Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Firestone Diamonds Posts Inaugural Revenue

Liqhobong project yields $28 million in half-year sales.
Mar 29, 2018 4:53 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Firestone Diamonds recorded its first half-year revenue from the Liqhobong mine in Lesotho, the company said Tuesday.

The miner saw sales of $28 million from the recovery of 379,716 carats during the six months ending December 31, at an average price of $74 per carat. The company posted a net loss of $1.9 million for the period.

“In our first six months of full-scale production at Liqhobong, processing rates were above expectations, while costs continued to remain below our targeted levels,” said CEO Stuart Brown.

The company has changed its mine plan due to lower-than-expected diamond prices, and raised $25 million from investors in December, in order to carry out the adjusted program.

In the miner’s first sale of the second fiscal half, held in February, it sold 114,887 carats at an average price of $82 per carat, for total sales of $9.4 million.
Tags: Firestone, Firestone Diamonds, Lesotho, Liqhobong, Liqhobong mine, miner, Rapaport News, stuart brown
Similar Articles
Jonathan Kendall, De BeersDe Beers Exec Jonathan Kendall to Retire
Nov 15, 2020
Jonathan Kendall, a key executive in De Beers’ downstream activities, will retire...
Dominion Nears Deal to Restart Ekati
Petra Launches Probe into Violence Claims
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us