We recently visited Firestone’s Liqhobong diamond mine in Lesotho. Construction is now around 95% complete with the focus on equipment commissioning ahead of mining starting in late September. Following the weakness in the diamond markets in 2015 and on into 2016, we have reduced our diamond prices by 18.5% from last year’s guidance. We are therefore now using a base case starting price of US$107 per carat. Our target price increases slightly from 51p to 52p, but we note that if t
09 Sep 2016
Liqhobong mine site visit and update
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Liqhobong mine site visit and update
- Published:
09 Sep 2016 -
Author:
Cavendish Research -
Pages:
12
We recently visited Firestone’s Liqhobong diamond mine in Lesotho. Construction is now around 95% complete with the focus on equipment commissioning ahead of mining starting in late September. Following the weakness in the diamond markets in 2015 and on into 2016, we have reduced our diamond prices by 18.5% from last year’s guidance. We are therefore now using a base case starting price of US$107 per carat. Our target price increases slightly from 51p to 52p, but we note that if t