DFI reports latest diamond sale

DIAMOND Fields International Ltd (DFI) recently sold 1,815 carats of diamonds at a price of US$218,31 (about N$1 355) per carat.

The Cape Town-based mining company announced in a media statement on Wednesday that its latest sale of a parcel of 95 per cent gem-quality rough diamonds from its Namibian marine operations fetched gross proceeds of US$396 249. Roger Daniel, President and Chief Executive Officer (CEO) of DFI, said: “This sale again confirms the quality of DFI’s marine diamond resource.The diamonds sold were all recovered from the recently completed development programme in the Diaz Reef section of Diamond Fields licences, and the price reflects the larger average stone size than in Marshall Fork.”He also announced that DFI’s vessel MV Discoverer returned to full mining mode in the Diaz Reef area at the beginning of March as a result of the trenching programme in the Elephant Basin and Reef Edge features.The high-grade deposit found in Elephant Basin is still open to the west and south, while the deposit found in Reef Edge is open to the north.Diamond Fields International Ltd and Moydow Mines International Inc had reached an agreement effective February 28 this year, pursuant to which Moydow security holders will exchange their Moydow securities for securities of Diamond Fields.Moydow, like Diamond Fields, is engaged in mineral exploration and development worldwide.-NampaRoger Daniel, President and Chief Executive Officer (CEO) of DFI, said: “This sale again confirms the quality of DFI’s marine diamond resource.The diamonds sold were all recovered from the recently completed development programme in the Diaz Reef section of Diamond Fields licences, and the price reflects the larger average stone size than in Marshall Fork.”He also announced that DFI’s vessel MV Discoverer returned to full mining mode in the Diaz Reef area at the beginning of March as a result of the trenching programme in the Elephant Basin and Reef Edge features.The high-grade deposit found in Elephant Basin is still open to the west and south, while the deposit found in Reef Edge is open to the north.Diamond Fields International Ltd and Moydow Mines International Inc had reached an agreement effective February 28 this year, pursuant to which Moydow security holders will exchange their Moydow securities for securities of Diamond Fields.Moydow, like Diamond Fields, is engaged in mineral exploration and development worldwide.-Nampa