With a further recovery of over 4,800 carats of diamonds from the Luderitz diamond concession, the mining program continues to exceed the feasibility study expectations.
Roger Daniel, operations director of Diamond Fields International, stated: “We are very happy with the results from the contract mining program. This is the second diamond mining report of the year utilizing the MV Anya with 24-inch airlifts and pebble jetting. This successful mining in the Marshall Fork feature provides a continuation of profitability and positive cash flow to DFI.”
The recently contracted Lady S, a second vessel deploying a single 24-inch pebble jet equipped airlift, has not achieved acceptable performance to date and therefore has returned to Cape Town for a scheduled dry dock booking and repair work to a slew ring on one of the vessel’s deck mounted cranes.
Randal Cullen, chief geologist, stated: “DFI has now reported recovery of more than 9,500 carats of diamonds since the resumption of mining this year and mined grades continue to exceed the MRDI feasibility study estimates. The Marshall Forks marine diamond deposit is proving to be an exceptional asset.”
Diamond Fields is also pleased to announce the sale on Friday, Feb. 28, 2003, of 3,215 carats at an average sale price of $146.91 (U.S.) per carat. This exceeds the last sale price, which was $132.52 (U.S.) per carat, reflecting the increased average stone size and the strengthening markets for rough diamonds. The tender sale was conducted in Antwerp through Diamond Tenders (Belgium) N.V.
WARNING: The company relies upon litigation protection for “forward-looking” statements.
