07/06/2011
1950’s | Ore bodies discovered in the Maluti Mountains of northern Lesotho. | |
1990’s | First large scale evaluation programme undertaken on the Main Pipe. Comprised satellite and main pipes – 8.6 hectare of kimberlite pipe, contains probable Diamond Reserve of 9.5 million carats. |
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2005 | Production commenced at Satellite Pipe. | |
2007 | Definitive Feasibility Study for development of Main Pipe commenced. | |
2008 | Production suspended at Satellite Pipe. | |
2010 | Liqhobong was acquired by Firestone Diamonds from Kopane Diamonds for US$71 million. | |
2011 | Production restarted by Firestone Diamonds. Pilot plant, produced in excess of 325,000 carats. High incidence of fancy yellow stones and potential for large stones. |
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2012 | Completed DFS which set out the basis for an open pit mine with a 15 year life, producing 3.6 million tonnes per annum, yielding in excess of 1 million carats. | |
2013 | Restructuring in place, new CEO, Stuart Brown joined Firestone Diamonds. Production suspended immediately. Update the DFS, revalidated initial capital expenditure for the Project and confirmed economics for Liqhobong. |
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2014 | Firestone raised US$222.4 million to bring Liqhobong into production, targeting 1 million carats per annum. Construction activities commenced. |
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2015 | Revised Mine Plan completed. Base case, post financing, NPV of US$389 million (8% discount rate), IRR of 42%, payback of 4.1 years. | |
2016 | Construction completed. First diamond recoveries commenced, recovery of special stones and fancy yellow diamonds. |
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2017 | First sale in February. 110 carat gem-quality light yellow diamond recovered. |
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2018 | Paul Bosma appointed as new CEO. In the 12 months to end-June 2018, the company’s first full financial year of production, 835,832 carats were produced at 22 carats per hundred tonnes. |