There has been a substantial increase in diamond recoveries from the company’s Luderitz Bay grant after MV Kovambo’s return from the Cape Town port of call. To date diamond recoveries during April are in excess of 7,000 carats.
The average diamond size is in line with expectations at 0.36 carats. The largest stone recovered is 10.13 carats which is exceptional for the deposit. At least 95% of the stones are gem quality.
The company is encouraged by these results and remains focused on achieving further improvements to mining time and to cleaning efficiency of the operation.
A parcel of 3,859 carats from the Luderitz Bay concession was today valued by independent valuers to the Namibian government for royalty assessment purposes. The value of the parcel was US$598,653. Individual carat values ranged from US$2,750 to US$102.
