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Firestone starts sale of Botswana operations

By BFN News | 03:52 PM | Thursday 14 August, 2014


Firestone Diamonds has started the disposal process of its Botswana operations. Firestone has appointed Questco Pty Limited, a South Africa-based corporate finance adviser, with prior experience in the successful sale of other diamond assets in sub-Saharan Africa, to manage the sale process. Firestone's principal investment in Botswana is its BK11 mine. Following a strategic review, the mine was placed under care and maintenance in February 2012, when the board of Firestone decided to focus on the company's interests in Lesotho, for which it raised US$225.2m earlier this year. The board has considered various strategic alternatives for its Botswana operations and, given the extent of the interest expressed in the BK11 mine, has decided to undertake a competitive disposal process. At 3:52pm: (LON:FDI) Firestone Diamonds PLC share price was 0p at 37.75p Story provided by StockMarketWire.com

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