Key points
- May 1998 production from the Luderitz Bay grant totaled 13,082 carats, bringing the April-May two-month total to 25,896 carats.
- The average diamond size for May was 0.35 carat per stone, with the largest stone recovered weighing 4.05 carats and seven stones exceeding three carats.
- A 20,507.30-carat parcel was independently assessed by the Namibian government this week at a value of US$3,258,103.20.
- The average carat value was US$158.88, up from US$155 per carat in April.
Production
for May 1998 from the company’s Luderitz Bay grant in Namibia has yielded 13,082 carats.
This result brings the total production for the two months of April and May to 25,896
carats.
The average diamond size from May production is 0.35 carat/stone. The largest
stone recovered was 4.05 carats with seven stones weighing more than three
carats.
A parcel of 20,507.30 carats was independently assessed by the Namibian
government earlier this week for a value of US$3,258,103.20. The average carat
value was slightly higher at $158.88 (U.S.) compared to the April valuation of $155 (U.S.)
per carat.
Diamond recoveries are meeting the company’s expectations. There is strong demand for the
quality and carat size of its production.
