Mr. Stuart Brown, Chief Executive Officer of Firestone Diamonds

Firestone Diamonds said it has commenced its development programme to build and commission the Main Treatment Plant and supporting infrastructure at Liqhobong after the completion of project financing recently.

The move will pave way for the UK based company to ensure the project is delivered in H1 2016 and, as importantly, on budget with the development being executed by Firestone’s projects team, led by the Chief Project Officer, Glenn Black, who was appointed to the company in February 2014.

“To date the company has commenced decommissioning and removal of the existing Pilot Plant and this is approximately 30 percent complete.  The EPCM, including earthworks and civils and residue storage facility contracts have been signed or agreed and Firestone has commenced general site earthworks,” Firestone said in an update.

It said the site earthworks include; widening and rerouting the site access road; building the residue slimes retaining wall; and early civil works. Importantly, overhead power line and main substation mobilisation has begun with the first mining fleet already installed safely at site.

“Further, major equipment long lead items have been approved by the tender board committee and contracts have been placed. Lastly, major equipment deliveries are aligned to the Company’s current baseline development schedule. To date, approximately 73 percent of the EPCM budget has been committed.”

Stuart Brown, Chief Executive Officer of Firestone said he was pleased to announce commencement of the earthworks programme at our Liqhobong diamond mine in Lesotho, which follows the recent completion of the financing.

“To date, we have committed approximately 73 per cent. of the expenditure required for the development and construction of the Main Treatment Plant and related infrastructure. I look forward to keeping shareholders abreast of future developments during the 24 months build.”