FY 2016 and 2017 will be a crucial time for Firestone Diamonds as they deliver the new plant targeted for October 2016 (2nd quarter FY 2017) with first diamonds expected to be recovered and sold in FY 2017. Delays amount to 4 months but capital cost in US$ terms remain on track helped by the weaker rand. Project construction 61% complete with power infrastructure delivered early. Project delays may be a blessing in disguise given the weak diamond markets. We have flat price forecast in early

02 Feb 2016
2016 a key year to deliver project

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2016 a key year to deliver project
- Published:
02 Feb 2016 -
Author:
John Meyer | Sergey Raevskiy | Simon Beardsmore -
Pages:
11 -
FY 2016 and 2017 will be a crucial time for Firestone Diamonds as they deliver the new plant targeted for October 2016 (2nd quarter FY 2017) with first diamonds expected to be recovered and sold in FY 2017. Delays amount to 4 months but capital cost in US$ terms remain on track helped by the weaker rand. Project construction 61% complete with power infrastructure delivered early. Project delays may be a blessing in disguise given the weak diamond markets. We have flat price forecast in early