Diamond Fields International recovered 5,394 carats of diamonds during operations between Sept. 30 and Nov. 17, 2003, in the Marshall Fork marine deposit off the coast of Luderitz, Namibia. The average recovery was 3.1 carats per square metre, which exceeds the Agra Simons feasibility report (2001) projections for the area. Ninety five per cent of the diamonds recovered are gem quality.
The market for Diamond Fields’ marine diamonds is strong. Sales during September and October, 2003, by the company’s marketing partner Diamond Tenders Belgium, totalled 2,585 carats and secured an average price of $145.62 (U.S.) per carat.
“We are very pleased to once again be in production and generating operational cash flow from the marine diamond mining activities,” says Roger Daniel, operations director. “We were especially encouraged by the sale of a light pink 1.54-carat diamond that sold for an astonishing $5,000 (U.S.) per carat, making the stone the highest value per carat recovered so far by Diamond Fields.”
Diamond Fields International is an internationally active exploration and mining company pursuing diamond and nickel opportunities worldwide. The company’s corporate strategy is to maximize cash flow from its Namibian marine diamond concessions and to systematically explore and develop its international diamond and nickel projects. In addition, the company continues to explore opportunities to acquire new economic mineral projects worldwide. Additional information is available on the company’s new Web site at www.diamondfields.com.
Randal Cullen, chief geologist for Diamond Fields International, is a qualified person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Diamond Fields.
WARNING: The company relies upon litigation protection for “forward-looking” statements.
