Diamond Fields Resources

Diamond Fields International said diamond prices from its Trans Hex Group joint venture sale rose 12 per cent quarter-over-quarter and nearly 40 per cent above October 2001 lows.

Diamond Fields International appointed Earl Young as director of investor relations.

Diamond Fields Inc. said diamond prices from its Trans Hex joint venture have risen almost 30 per cent since mid-October 2001 lows, with six-month operating profit of $392,993.

Diamond Fields International reported a second consecutive quarterly operating profit for its Marshall Fork diamond joint venture with Trans Hex for the quarter ended Dec. 31, 2001.

Diamond Fields reported January 2002 mining results from its Trans Hex joint venture on the western fork of Marshall fork offshore Namibia, with grades 170 per cent of feasibility estimates.

Diamond Fields reported a positive operating margin for the quarter ended Sept. 30, 2001, from its diamond joint venture with Trans Hex Group.

Diamond Fields' new mining vessel mv Namakwa began operations at the Marshall Fork feature near Luderitz, Namibia, replacing the mv Ivan Prinsep.

Diamond Fields and Trans Hex's mv Namakwa left Cape Town for sea trials ahead of full-scale diamond mining offshore Luderitz, Namibia in early November.

Trans Hex and Diamond Fields International's Namibian joint venture has recovered over 6,000 carats in three months, with individual trenches showing grades above five carats per square metre.

Diamond Fields-Trans Hex joint venture recovered over 9,600 diamonds weighing more than 3,100 carats in the first five weeks of commissioning at Marshall Fork, offshore Luderitz, Namibia.