June 30, 2010 Firestone Diamonds announced that it has been informed by Debswana Diamond Company that Debswana has decided to proceed with the Modular Tailings Treatment project at the Jwaneng mine in Botswana with Firestone, subject to contractual arrangements, which are currently at an advanced stage, being finalised, and suitable financing arrangements being made for the capital costs of the project. Construction is expected to commence in H1 2011 with full
production scheduled for 2012.
September 25, 2009 Firestone Diamonds announced update on its BK11 and Jwaneng tailings projects in Botswana. At BK11 , substantial progress was made with bulk sampling, 250,000 tonnes were mined since July with a mining rate of 5,000 tonnes per day. At Jwaneng Tailings, negotiations with Debswana on toll treatment progressing towards target for agreement to be signed in Q4 2009
July 8, 2009 Firestone Diamonds announced that it has conditionally placed 35,873,480 new ordinary shares at 20 pence per share to raise gross proceeds of approximately £7.2 million. In addition, the Company announced an update on its BK11 and Jwaneng Tailings projects in Botswana. BK11 diamond value increased 11% to $135/carat since March 2009. The Jwaneng plant is intended to serve as a pilot facility to demonstrate the economics and capability of the modular plant concept on the Jwaneng tailings resource, which is estimated to be in excess of 30 million tonnes.