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Firestone Diamonds’ Botswana Operations
Following a decision to focus on its flagship Liqhobong Diamond Mine in Lesotho, Firestone commenced a disposal process for all its assets in Botswana. In May 2017 Firestone entered into a conditional option agreement for the potential disposal of its Botswana operations, which include its interest in the BK11 mine, to Amulet Diamond Corporation for a total potential consideration of US$5.1 million in cash.
Further information can be found here: https://www.firestonediamonds.com/investors/new-alerts/regulatory-news
About the Botswana Operations
The Botswana operation’s primary asset is the BK11 mine and the company also has a number of ancillary assets in country.
Firestone is of the view that the Botswana operations present a rare opportunity that has the ability to deliver strong returns under the ownership of an operator or operators for whom it would be a core asset for, inter alia, the following reasons: