Firestone Diamonds has announced last Wednesday that it extends the option period granted Amulet, a group of private investors, to acquire its diamond assets in Botswana. Initially set on July 31, 2018, the option period now goes until December 31, 2018.

The two firms had concluded last May, an agreement enabling Amulet for $5.1 million to purchase Firestone’s Botswana subsidiary which controls the BK11 mine and has a 90% interest in Monak Ventures. During the option period, the group was to finance the construction of a plant which it will use to conduct bulk sampling at the BK11 mine, to “further assess the deposit”.

Firestone has explained Wednesday that Amulet made progress regarding the plant’s installation and the extension of the option period is due to a delay in equipment delivery which the group did not expect.

Louis-Nino Kansoun