Firestone Diamonds To Start Building Work At Liqhobong Diamond Mine

(IDEX Online News) – Firestone Diamonds plc said it will start using the $225 million it has raised to build and commission the Main Treatment Plant and supporting infrastructure at the Liqhobong diamond mine in Lesotho.

“Following the company’s entering into a Revised Mining Lease Agreement in respect of the Liqhobong Diamond Mine, as announced on April 28, the company confirms that, in finalizing its financial matters it has entered into a new mining lease which shall govern the terms under which LMDC shall mine diamonds at the Liqhobong Diamond Mine for an initial period now ending on 24 April 2024.

All other material terms of the mining lease remain the same as in the Revised Mining Lease Agreement, including the ability to renew the mining lease for two further periods of 10 years each.”

Stuart Brown, Chief Executive Officer of Firestone, commented: "Entering into the financing agreements, following receipt of Shareholders' approval for the Fundraising at the General Meeting, is the concluding element to the project financing package required for Firestone to commence building the Main Treatment plant at its Liqhobong Diamond Mine in Lesotho. 

“We look forward to beginning the early earth works on the Project in the coming weeks following receipt of funds from the Placing and Subscription on Admission."