Firestone Diamonds sells $5.1 million in two months

On Monday Firestone Diamonds (LON:FDI) said it sold 63,991 carats of rough goods for $5.1 million at two tenders held during October and November.

The company sold 47,658 carats for $3.5 million at an average price per carat of $75 at the first tender in October.

At the second sale, last month, the company traded 16,333 carats for $1.6 million with an average price per carat of $96.

Firestone said the 28% price increase per carat earned in the November tender was due to higher quality diamonds being mined from the K2 unit of the Main Pipe.

The sale was carried at the Antwerp World Diamond Centre's new tender facility with 84 diamond buyers attending and all the diamonds being sold. There were no large diamonds in the tendered goods.

The October tender was a dual tender with diamonds first being presented at the company’s tender facility in Gaborne, Botswana, and thereafter at Antwerp.