Afri-Can Marine Minerals reported that De Beers Marine recovered 23 gem-quality diamonds totaling 4.65 carats from 338 samples on the Block J concession offshore Namibia.
Afri-Can Marine Minerals reported a first-quarter fiscal 2002 net loss of $223,123, up from $120,327 a year earlier, for the period ended Nov. 30, 2001.
Afri-Can Marine Minerals closed a $532,450 private placement of 2,315,000 units and announced a further $199,985 placement, with proceeds funding Namibian exploration.
Afri-Can clarified a CDNX bulletin confirming it issued 662,640 shares to Woduna Mining Holding to raise its stake in Namibia's concession block J to 40 per cent.
Afri-Can Marine Minerals has begun initial reconnaissance sampling on its Block J marine diamond concession off Namibia, using De Beers Marine's vessel MV Douglas Bay.