Diamond Fields Resources

Diamond Fields International filed a damages claim against Trans Hex Group in the Cape Town High Court over the 2002 suspension of Marshall Fork mining.

Diamond Fields International has concluded a purchase agreement for a 3,887-gross-ton vessel that will become its first fully owned and operated diamond mining vessel.

Diamond Fields recovered more than 23,000 carats, including a 17.42-carat stone, from six months of mining at the MF5 portion of Marshall Fork off Luderitz, Namibia.

Diamond Fields International was awarded an exclusive prospecting permit for Sea Area 14(b), roughly 220 kilometres north of Cape Town off South Africa's west coast.

OPIC has confirmed its commitment to $15 million in project financing for Diamond Fields International to acquire vessels for its Luderitz diamond concessions in Namibia.

Trans Hex Group unilaterally suspended mining at Diamond Fields' Marshall Fork deposit and withdrew its vessel, leading Diamond Fields to declare the joint venture terminated as of July 5, 2002.

Diamond Fields received final OPIC approval for up to $15-million (U.S.) in debt financing to acquire the first of two planned mining vessels.

Diamond Fields recovered a 17-carat diamond from its Luderitz concession offshore Namibia, the largest stone found since its joint venture with Trans Hex began in May 2001.

Diamond Fields International filed notice to buy back up to one million common shares over the next 12 months starting June 7, 2002.

Diamond Fields reported its first-ever quarterly net income of $69,912 for the quarter ended March 31, 2002, versus a $1,125,550 net loss a year earlier.