The offshore marine bulk sampling operations conducted by International Mining and Dredging Holding Pty. Ltd. (IMDH) recovered 26,965.45 carats from Diamond Fields International Ltd.’s ML 111 concession.
The diamonds were recovered during 62 days of bulk sampling with, respectively, mv Ya Toivo on the water engaging in exploratory trenching activities over the period from July 10 to Sept. 10, 2016, and the mv Explorer executing vertical drill sampling operations over the period from July 21 to Aug. 18, 2016, with the mv DP Star also assisting in support activities.
The diamonds were exported to Antwerp and, after minor losses from check-weigh reconciliation and cleaning, 26,912.2 carats were rendered available for sale. Of the diamonds made available for sale, 8,975 carats have been sealed in Antwerp for future sale. The remaining 17,936.52 carats were sold at a reported sales value of $4,731,348.17 (U.S.), or $263.78 (U.S.) per carat.
DFI is presently in discussions with IMDH with respect to various commercial matters arising from the IMDH shipping and mining contract, including the foregoing lots and auction process, and will update the market when possible.
