Firestone Diamonds plc announced yesterday that project construction at its Liqhobong Diamond Mine was 100% complete and it is currently ramping up to nameplate capacity. 

The Company indicated that the first diamond recoveries commenced in late October 2016. As at the end of December 31, 2016, the Company had recovered over 20 special stones larger than 10.8 carats, with the largest being a 37 carat white diamond, as well as several fancy yellow diamonds, Firestone reported.

“Processing of lower grade stockpiles and diluted ore in the quarter produced 58,000 carats at a grade of 14.4 carats per hundred tonnes,” the Company said.

Firestone said that at the commissioning stage they had managed costs efficiently, which they put at US$ 12 per tonne treated – which was at the bottom end of guidance. The Company reported a strong financial position “with cash and available facilities of US$ 18 million, alongside a further US$15 million standby facility available”.

The Company announced that the first sale of Liqhobong diamonds will be held in Antwerp, Belgium from February 6-10, 2017.

"Construction activities at Liqhobong were completed early in the quarter and we are currently in the commissioning and ramp up stage of the Project,” Stuart Brown, Chief Executive Officer, commented. “We have been pleased with the tonnes processed by the plant, which has already seen nameplate production reached on multiple occasions at this early stage of ramp up.”