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Firestone Diamonds loses its glitz

Firestone Diamonds (LN:FDI) has had to come back to the market looking for finance to revise its mine plan at its Liqhobong mine in Lesotho and, despite two months ago flagging the possibility of such an event occurring, its shareholders are making the diamond producer pay.

Firestone Diamonds loses its glitz Firestone Diamonds loses its glitz Firestone Diamonds loses its glitz Firestone Diamonds loses its glitz Firestone Diamonds loses its glitz

Firestone hopes the equity raise will ensure Liqhobong at least breaks even

The company has gone to the equity markets looking for £18.5 million (US$25 million) to shore up its finances, while also agreeing a pushback of debt repayments with its lender, ABSA Bank....