Firestone has released a further update regarding its partly constructed Liqhobong diamond mine in Lesotho. Construction is now 65% complete with design, engineering and procurement essentially complete. Following the weakness in the diamond markets in 2015 and on into 2016, we have reduced our diamond prices by 10% from last year’s guidance. As a result, we have reduced our risked target price from 61p to 51p, although we note that this is still some 191% higher than the current price.
