Firestone Diamonds, the international diamond mining and exploration company with operations focused on Lesotho and Botswana has announced the results of two diamond tenders held during February and April 2013.The company noted that there were total sales of 55,950 carats realising revenues of approximately US$5.1 million.
The February 2013 tender sold 35,718 carats and realised revenues of US$3,016,351 (an average of US$84.49 per carat) while the April 2013 tender sold 20,232 carats and netted US$2,056,871 in revenues (an average of US$101.67 per carat). There was a 20% increase in average price per carat to US$101.67 in April 2013 compared to US$84.49 per carat achieved at February 2013 tender and the company noted that despite the higher prices no high value stones were tendered in April 2013.
Tim Wilkes, CEO of Firestone said they are comforted by the results particularly of our latest tender. “Not only are the diamond prices up considerably since February but they have increased across the board, demonstrating a higher-level of confidence in the sector. This is further endorsed by the increasing number of diamond buyers present at April’s tender,” he added.
Firestone said all the parcels tendered were sold and added that the tender was attended by 80 diamond buyers in February and 109 diamonds buyers in April 2013.The February and April 2013 tenders were held at the independently operated Antwerp World Diamond Council’s (“AWDC”) facility. A total of 55,950 carats were sold over both the tenders realising revenues of approximately US$5.1m for the Company.
The average price per carat increased by 20% from the February 2013 tender, where the average price achieved was US$84.49 per carat, to US$101.67 per carat in April 2013. First Element Diamond Services have operated in total three tenders on behalf of the Company at AWDC and April’s tender saw record attendance levels with 109 diamond buyers present viewing the parcels. All of the parcels tendered were sold and no high-value stones were included.
Firestone Diamonds currently operates the Liqhobong Project in Lesotho and is also the largest holder of mineral rights in Botswana’s diamondiferous kimberlite fields.
The Firestone Diamonds portfolio also boasts the BK11 Diamond Mine, the BK16 advanced evaluation kimberlite and some of the world’s largest diamondiferous kimberlite fields in the regions of Orapa, Tsabong and Kokong in Botswana, with 176 kimberlites of which 43 have been proven diamondiferous. The Company holds additional prospecting licenses covering an area of approx 6,000 square kilometres in the Tsabong and Kokong fields.
