25/02/2008
Firestone Diamonds suggests one kimberlite at Tsabong in Botswana could hold 1.1 billion tonnes at 20 carats per hundred tonnes.
The AIM-quoted company is basing this estimate on recent evaluation work at MK1, which at 180 hectares it claims as one of the largest diamondiferous kimberlites in the world. Firestone says it will shortly start bulk sampling for large gemstones and plans further evaluation work at MK1, which is one of 83 kimberlites in the Tsabong field.
Shares in Firestone, whose other interests include a joint venture with De Beers at Bonte Koe in South Africa, have given investors a bumpy ride. Floated at 114p in 1998, they fell from 192p in 2005 to 78p the following year.
Recommended two months ago by Growth Company Investor as likely to show action in 2008, they have now surged to 147.5p, up 17p this morning. Hold on.
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