Diamond Fields International
Ltd. has released the result of
its latest sale of a parcel of 95-per-cent gem-quality rough diamonds from its
Namibian marine operations. A total of 1,815 carats of diamonds were sold at a price of
$218.31 (U.S.) for gross proceeds of $396,249 (U.S.).
Roger Daniel, president and chief executive officer of Diamond Fields, commented: “This sale
again confirms the quality of DFI’s marine diamond resource. The diamonds sold
were all recovered from the recently completed development program in the Diaz
Reef section of Diamond Fields’ licences and the price reflects the larger
average stone size than in Marshall Fork.”
Diamond Fields’ vessel, mv DF Discoverer, returned to full mining mode in
the Diaz Reef area at the beginning of March as a result of the success of the
trenching program in the Elephant basin and Reef Edge features. The high-grade
deposit found in Elephant basin is still open to the west and south while the
deposit found in Reef Edge is open to the north.
As previously announced in Stockwatch March 1, 2006, Diamond
Fields International and Moydow Mines International Inc. stated that they had reached an agreement effective
Feb. 28, 2006, pursuant to which Moydow securityholders will exchange their Moydow securities for securities of Diamond
Fields. The transaction is subject to various conditions as previously
announced. Moydow, like Diamond Fields, is engaged in mineral exploration and
development worldwide.
