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MODERN MINING
May 2017
MINING News
In its report on the quarter ended 31 March
2017, Firestone Diamonds plc, the AIM-
quoted diamond company, reports
that commissioning activities at its new
Liqhobong mine in Lesotho are largely
complete and that the final ramp up is
progressing on track
During the reporting period, 639 000
tonnes were treatedwith nameplate capac-
ity continuing to be achieved on numerous
occasions. Some 103 000 carats were recov-
ered at a grade of 16,1 carats per hundred
tonnes (cpht), compared to 58 000 carats at
a grade of 14,1 cpht in the previous quarter.
Over the three months, Firestone
continued to calibrate the processing
plant with scheduled shut downs as part
of the normal commissioning activi-
ties. The modifications implemented
were primarily designed to address the
low carat recoveries experienced in the
previous quarter. While these modifica-
tions impacted on the volume of tonnes
treated, and in turn carats recovered, they
have proven to be effective with the grade
rising to 20,1 cpht at the end of March.
Final ramp-up at Liqhobong on track
The Liqhobong processing plant seen from the south (photo: Firestone).
In addition, the diamonds are being
recovered with less than 1 % measured
diamond damage, which Firestone views
as extremely positive.
The waste stripping is on schedule and
Firestone is in the process of dewatering
the south-eastern side of the main pit to
begin accessing better quality ore later in
the current quarter.
The project maintained its outstanding
health and safety record, having reached 4
million man hours worked without a single
Lost Time Injury (LTI) at the end of March.
During the period, Firestone held two
diamond sales (in February and March)
in Antwerp. All 127 590 carats on offer
were sold and achieved an average price
of US$107 per carat for total proceeds of
US$13,7 million.
“It is pleasing to see that the improve-
ments andmodifications made to the plant
during commissioning have improved
performance,” comments Stuart Brown,
Firestone’s CEO. “During the quarter, we
have seen a steady improvement in the
grade with our daily recovery exceeding
20 cpht at the end of March following the
implemented modifications. 103 000 car-
ats were recovered in the quarter including
31 special stones larger than 10,8 carats
and, post the period, we were delighted to
recover our first plus 100-carat stone.
“The final commissioning phase has
seen the mine achieve nameplate capacity
on numerous occasions which is very posi-
tive, particularly during the rainy season.”
Paradigm to undertake FEED study for Tongo-Tonguma
Further to its announcement on 28 April
2017 that it had entered into a Tribute Mining
Agreement with Octea Mining in relation to
theTongo-Tonguma kimberlitedykediamond
project in Sierra Leone, Stellar Diamonds
reports it has now entered into a contract for
the Front End Engineering and Design (FEED)
study to be conducted for the underground
mine development of the project. South
Africa’s Paradigm Project Management (PPM)
has been appointed to prepare the study.
The project is reported to be one of the
highest dollar per tonne value kimberlites
in Africa and has the potential to be the sec-
ond largest diamond mine in West Africa.
“The FEED is a very important first step in
the mine development process,” comments
Karl Smithson, Chief Executive of AIM-listed
Stellar. “PPM are highly experienced in the
delivery of diamond mine projects and,
together with SRK Consulting, they will refine
all elements of the mine plan as determined
in the PEA to higher levels of confidence in
order to reduce the project delivery risk.
“With over 66 000mof drilling completed
at the project to date, we will undertake
mine plan related drilling to a depth of 75 m
concurrent with the FEED study.
“Once work commences on the FEED,
it is expected to take approximately four
months to deliver (including drilling) and
will mark the onset of the mine devel-
opment programme. I look forward to
updating shareholders on our progress as
we work to transform Stellar into a long
term, high value diamond producer.”