The diamond valuation has been improved by the company following the release of a report prepared by an independent mineral resources consultant, which analyzed production at the mine over the past 22 months.
Excluding potential large stones, the base average diamond price is now expected to reach $107 per carat, compared to the previous value of $98 per carat.
Firestone recovered about 325,000 carats during September 2011 to July 2013 and the company noted that the definitive feasibility study (DFS) conducted in 2012 was based on a much smaller sample of 2,500 carats.
Firestone Diamonds incoming chief executive officer Stuart Brown said the current range of increased diamond values at Liqhobong is encouraging and builds on the numbers outlined by the DFS.
"This latest analysis takes into consideration all the data available from the Pilot Plant since it commenced production in September 2011 through to July 2013, and the Board believes that these new figures further enhance the robust project economics for the Liqhobong project," Brown added.
