Firestone Diamonds Recovers 134-Carat Yellow Diamond

Mining and Exploration
03/10/2017 10:47

Firestone Diamonds this morning announced the recovery of its largest diamond to date, a 134 carat gem-quality light yellow diamond, from its Liqhobong Diamond Mine, located in Lesotho. They believe this recovery, the second of over a hundred carats since production commenced, reinforces the potential for large stones at Liqhobong as the company continues early stage mining. The recovery will certainly be welcome news, particularly following the company's most recent sales results and operational update, where lower-than-anticipated average diamond prices were attributed to few large diamond recoveries and a subdued market. Proactive Investors noted Firestone shares rose 18% to 23p on the announcement.

Note: the diamond pictured is a 110-carat diamond previously recovered. The company does not yet have an image of the 134-carat recovery.