3mo results
The company reported net profit of $1.2-million (U.S.) and diamond production of 42,600 carats for the quarter ended Nov. 30, 1998, up 41 per cent.
Conditional listing approval received from TSE
Diamond Fields International received conditional TSE listing approval and will trade under symbol DFI with about 41 million shares outstanding.
100,000 carats mined in eight months
The company has mined 100,000 carats of gem quality diamonds from its Luderitz Bay Grant in Namibia over the past eight months.
Second mining system; appointment
Namibian Minerals will build a second diamond mining tool, NamSSOl II, targeting 185,000 carats a year and appointed Tokyo Sexwale to its board.
3mo results
Namco reported its first quarterly profit of $1.02-million from Namibian marine diamond mining for the quarter ended Aug. 31, 1998, as production rose 17 per cent to 30,300 carats.
Summary Table of Production
The company reported diamond production of 30,300 carats and sales of $4.8-million from its Luderitz Bay grant in Namibia for the quarter ended August 31, 1998.
Year end results
The company began commercial diamond production at its Luderitz Bay mining licence in Namibia, recovering about 38,000 carats over three months and posting a $7.1-million annual loss.
May 1998 production results
Company reported 13,082 carats of May 1998 diamond production from its Luderitz Bay grant in Namibia, valued at $158.88 per carat.
First diamond sales
Namibian Minerals Corp. sold its first parcel of diamonds from Namibian operations, 5,093 carats, in Antwerp this week for $913,388.40 (U.S.).
April production results; director appointed to South African board
Namibian Minerals recovered 12,814 carats of gem quality diamonds from its Luderitz Bay grant in April and appointed Yusuf Surtee to its South African board.