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.
Luderitz Bay diamond recoveries increase
Luderitz Bay diamond recoveries topped 7,000 carats in April, with a 3,859-carat parcel valued at US$598,653 by independent valuers for Namibian royalty assessment.
February 28 quarterly review
During the quarter ended February 28 1998, the company recovered its first diamonds from the Koichab prospect off Namibia and signed a three-year marketing deal with IDC (Holdings) Ltd.