Shares in Firestone Diamonds (FDI.L) rise 7.0 percent after the AIM-listed company says it is planning to start development of commercial mining operations on its BK11 mine in Botswana.
Firestone says production will start ahead of schedule in the second quarter of 2010 with a plant capacity of about 650,000 tonnes per annum and full production capacity of 1.5 million tonnes per annum will be in place in the third quarter.
"Today's announcement is very positive news for Firestone Diamonds and we will now see the company making the transition to a full-scale kimberlite mining company," Evolution Securities analyst Charles Kernot, who has a "buy" rating and a price target of 50 pence on the stock, says in a note.
Source:uk.reuters.com/
No comments:
Post a Comment