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Firestone Questions Future of Operations
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Firestone Diamonds is assessing its ability toremain operational, as it struggles with mounting debt and lower prices in theweak market. “From a market perspective, pricing remains subdued,”Firestone CEO Paul Bosma said last week. “The company...
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Mining
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Oct 28, 2019
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Rapaport News
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Firestone Finds Its Biggest Fancy Yellow
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Firestone Diamonds has recovered a 54-carat, intense-fancy-yellowrough diamond at its Liqhobong mine in Lesotho, it reported Monday. The sawable stone, the largest of its color Firestone has unearthed, will go on sale at the company’s nexttender, which is due...
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Mining
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Jul 08, 2019
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Rapaport News
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Firestone Gets Bank Waiver After Prices Slide
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ABSA Bank has granted Firestone Diamonds a waiver after adrop in small-diamond prices put the miner at risk of breaching its loan covenants. The terms of Firestone’s $82.4 million loan from ABSA included assumptions about...
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Mining
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Jul 02, 2019
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Rapaport News
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Rainy Season Dampens Firestone Output
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Output at Firestone Diamonds slipped in the third fiscal quarteras the company processed ore from a lower-grade portion of the mine. Production dropped 19% to 155,206 carats at the company’sLiqhobong mine in Lesotho in the three months ending...
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Mining
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Apr 29, 2019
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Rapaport News
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Firestone Diamonds Recovers 72ct. Yellow
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Firestone Diamonds has unearthed a 72-carat rough yellowstone from its Liqhobong mine in Lesotho, along with two other largegem-quality diamonds. The miner also found a white stone weighing 22 carats and an11-carat, fancy-light-pink diamond,...
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Mining
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Apr 08, 2019
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Rapaport News
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Firestone Loss Narrows as Sales Rise
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Firestone Diamonds decreased its net loss in the first fiscalhalf, as sales grew despite weak prices,the miner said Thursday. The company reported a loss of $6.6 million fromits Liqhobong mine in Lesotho for the six...
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Mining
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Mar 31, 2019
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Rapaport News
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Firestone Recovers 70ct. Rough
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Firestone Diamonds has unearthed a 70-carat white rough stone fromits Liqhobong mine in Lesotho. “The 70-carat stone was recovered in the northern, low-gradepart of the pit, where the bulk of our mining will take place...
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Mining
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Feb 12, 2019
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Rapaport News
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Firestone Revenue Rises in Second Quarter
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Sales grew at Firestone Diamonds in the second fiscal quarter as stronger volumes outweighed a lower average price, the miner reported Monday. Proceeds from rough sales at the company’s Liqhobong mine inLesotho increased 11% year...
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Mining
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Feb 04, 2019
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Rapaport News
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Firestone Digs Up 46ct. Rough Diamond
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Firestone Diamonds’ stock price rose more than 11% Friday afterthe company announced it had unearthed a 46-carat white diamond at itsLiqhobong mine in Lesotho. The stone — which the miner recovered undamaged — willgo on sale at the...
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Mining
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Dec 16, 2018
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Rapaport News
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Firestone Unearths 326ct. Diamond
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Firestone Diamonds has recovered a 326-carat, near-gem-qualityrough — the largest diamond the miner has found to date. The company unearthed the stone at its Liqhobong mine inLesotho in October, it reported last week. “[The 326-caratdiamond] provides...
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Mining
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Nov 04, 2018
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Rapaport News
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Firestone Diamonds Slashes Annual Loss
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Firestone Diamonds narrowed its annual loss by 91% amidhigher sales, and due to the absence of an impairment charge it incurred a yearago. The miner recorded a net loss of $14.2 million for the fiscalyear that ended June...
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Mining
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Oct 04, 2018
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Rapaport News
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Firestone Sees Strong Bigger-Stone Demand
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Sales were strong at Firestone Diamonds in the fourth fiscalquarter amid robust demand for larger rough stones, the miner reported Monday. Proceeds from rough sales totaled $18.6 million during theperiod ending June...
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Mining
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Jul 24, 2018
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Rapaport News
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Firestone Promotes Paul Bosma to CEO
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Firestone Diamonds has appointed industry veteran Paul Bosmato succeed Stuart Brown as CEO from July 1, the company said Monday. Bosma (pictured) — who worked for De Beers for 14 years — joinedFirestone as mineral-resources manager in 2014,...
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Mining
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May 14, 2018
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Rapaport News
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Firestone Diamonds Posts Inaugural Revenue
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Firestone Diamonds recorded its first half-year revenue from the Liqhobongmine in Lesotho, the company said Tuesday. The miner saw sales of $28 million from the recovery of379,716 carats during the six months...
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Mining
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Mar 29, 2018
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Rapaport News
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Firestone Raising Cash After Price Drop
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Firestone Diamonds is looking to raise $25 million (GBP 18.5million) to fund operations at its Liqhobong mine in Lesotho after weak roughprices drove the company to a loss and forced it to rethink its plan for theasset. Disappointing demand...
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Mining
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Dec 04, 2017
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Rapaport News
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Firestone Rethinks Liqhobong Mine Plan
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Firestone Diamonds is revising its mining plan and hasopened talks with its lender after recording disappointing prices at its Liqhobongmine in Lesotho. The company’s last two sales yielded just $69 per carat,compared with...
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Mining
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Oct 03, 2017
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Rapaport News
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Liqhobong Output Forecast Drops
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Firestone Diamonds has lowered its production outlook forthe current financial year, aiming instead to improve long-term prospects atits Liqhobong mine in Lesotho.The company expects to produce 800,000 to 850,000 carats ofrough diamonds in the fiscal...
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Mining
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Aug 09, 2017
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Rapaport News
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Switch to Smaller Rough Dents Liqhobong Prices
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The average selling price of rough diamonds from FirestoneDiamonds’ Liqhobong mine lagged behind the company’s forecast for the fourthfiscal quarter as the company recovered more lower-value stones.The miner sold 182,786 carats for...
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Mining
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Jul 17, 2017
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Joshua Freedman
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Firestone Ups Liqhobong Production Forecast
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Firestone Diamonds has raised its production outlook for theLiqhobong mine to 360,000 carats for the fiscal year ending June 30.Operations at the Lesotho-based project, which the company initially predicted would produce 300,000...
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Mining
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Jun 25, 2017
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Rapaport News
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Firestone Upbeat on Early Liqhobong Results
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Firestone Diamonds continues to yield large special stones at its Liqhobong mine in Lesotho and expects to complete the “ramp up” phase of the operation in the coming months, the company announced Wednesday.The miner recovered 31 stones...
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Mining
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Apr 26, 2017
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Rapaport News
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