Firestone increases diamond values at Liqhobong
JOHANNESBURG (miningweekly.com) – The Lesotho-based Liqhobong diamond mine has the potential to deliver higher value diamonds for London-listed Firestone Diamonds than previously reported.
The diamond mining and exploration company revealed on Wednesday that the updated values of the resource emerged following an independent analysis of the pilot plant's diamond production over the past 22 months, which had led to higher confidence in the modelled prices from the new fit-for-purpose main treatment plant.
The base average diamond price, excluding potential large stones, was now expected to reach $107/ct, with a projected revenue of $2.3-billion, an increase from the $98/ct estimated by the definitive feasibility study (DFS). The upside price, including large stones in excess of 100 ct, registered a potential $156/ct, delivering possible project revenue of $3.4-billion.
"Today's range of increased diamond values at Liqhobong is extremely encouraging, building on the solid numbers outlined by the DFS last year. This latest analysis takes into consideration all the data available from the pilot plant, since it started production in September 2011 through to July 2013, and the board believes these new figures further enhance the robust project economics for the Liqhobong project," incoming CEO Stuart Brown said.
The data from the pilot plant recovery and subsequent sale of 325 000 ct from September 2011 to July 2013 enabled the updating of assortment and revenue models.
The company was also currently optimising the DFS model, with the results expected be published once the review has been completed by the middle of the fourth quarter.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
