Junior miner Firestone Diamonds announced today it has found three large diamonds at its Liqhobong mine in Lesotho and that first quarter production at the location was looking up.
The diamonds recovery includes a 74-carat light yellow unbroken gem, a 39-carat light yellow gem and a 26-carat white gem, both fragments of much larger stones.
These diamonds will be sold at tender in the second quarter, said CEO Tim Wilkes in a statement.
The company noted that while prices for better-quality diamonds are strengthening and in some categories the prices have crept up to levels not seen since June 2011, the prices of brown diamonds, near-gem quality and small stones remains depressed and under pressure.
Firestone Diamonds also appointed South African based chartered accountant Grant Ferriman as its chief financial officer as of July 1, 2012. Ferriman is currently group financial controller of Mwana Africa Plc. His appointment follows the resignation of Angus Ogilvie as finance director during April 2012.