Bryson Burke Diamond Corporation: Diamond Exploration and Mining in Canada

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Diamonds from Avontuur

Special Article

Mining in South Africa in 1870

Australia

Africa

Angola

Botswana

Namibia

South Africa

Sierra Leone

Canada

Russia

What are diamonds made of? How are they related to volcanism? What are indicator minerals?

Avontuur Pit

Mines - South Africa

Worldwide Annual Production

[March/02] Firestone has two profitable mines, the Oena and Avontuur, both of which are scaling up production. It also has exploration prospects at Groen River in Namaqualand, and along the Orange River. But the real upside lies with prospects in Botswana, where the Mopipi license could reveal a new kimberlite field.

At the moment the group is conducting geophysical surveys to pinpoint anomalies at which to site its drills. That process should be completed by the middle of the year, at which juncture the group will drill and announce results fairly quickly. The exploration ie being poid for by £2.3m rahed in a placing in November, monies from which have also been used to scale-up production, fohwing a significant discovery, at Oena. At the June year-end, cash flow from the Avontuur Mine, near Hondaklip Bay on the west cost of South Africa was financing all other overheads.

Furthermore, the diamond markets have bounced back from their post-11 September dip and have since performed well. Demand from rough diamond buyers remains strong, especially at the quality end of the market, which picks up most of the stones from Oena. The retail market in the US wes robust over the Christmas period and the group remains comfortably profitable.

Trans Hex Operations/South Africa
Firestone Diamonds/South Africa

Special
History of DeBeers

So, with plenty of cash and positive cash-flow, most of the risk is on the upside. There are no guarantees that Firestone has diamondiferous kimberlite in Botswana - and even if it does there is no guarantee that it would be economic. But the signs so far are encouraging. Firestone's soil sampling programme returned exceptionably high indicator mineral counts from a number of areas within

the Mopipi area. Four diamonds were recovered and 80 garnets identified as being diamond associated. That all adds up to making Firestone a reasonable punt ahead of further drilling results this summer, and with its two mines both looking likely to increase operating profits this year, the insulation against failure looks fairly secure. [http://www.firestonediamonds.com/frphoto.htm]