Key points
- The company said it is unaware of any material changes since its April 20 quarterly filing that would explain the recent share price rise.
- Mobilization of a US$10 million bulk sampling and trial mining program is nearing completion in Cape Town, South Africa.
- The 180-day program on the company’s sea-diamond concession off South Africa and Namibia will commence in early June using the Namrod sampling tool developed by Boskalis at a cost of over $6 million.
- Gem diamond production from the Namibian sea-bed reached 407,000 carats in 1994, with independent contractors doubling their output to contribute a further 135,000 carats.
The company has noted the significant rise in its share price. Since the release of its quarterly filings on April 20 the company is not aware of any material changes that should affect the share price.
Mobilization of a US$10 million bulk sampling and trial mining program is nearing completion in Cape Town, South Africa.
The 180 day program on the company’s extensive sea-diamond concession off the South African and Namibian coasts will commence in early June.
The company’s program is employing a unique sampling tool, the Namrod, developed by Boskalis, the world’s largest commercial sea-dredging group, at a cost in excess of $6 million.
Gem diamond production from the Namibian sea-bed reached 407,000 carats in 1994 with independent contractors doubling their output and contributing a further 135,000 carats.
