Business
Diamond Fields International Ltd. - Latest Marine Diamond Sales and Production Update
Diamond Fields International Ltd. - Latest Marine Diamond Sales and Production Update.
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\nSYMBOL: DFI\n\n\nCAPE TOWN, South Africa, April 25 /CNW/ - Diamond Fields International\nLtd. (DFI:TSX) ("DFI" or the "Company") is pleased to announce its latest\ndiamond sale at an average sales price of US$239 per carat from diamonds\nproduced from joint operations mining with Bonaparte Diamond Mines NL\n("Bonaparte") and improved production results.\n\n\nDiamond sales\n\n\n2,029 carats of 95% gem quality diamonds produced by the Company's mining\nvessel MV DF Discoverer from joint operations mining with Bonaparte offshore\nNamibia have been sold at an average value of US$239 per carat, for total\nsales revenue of US$484,692. The parcel included a 7.72 carat gem diamond that\nwas sold for US$24,018 at an average of US$3,111/ct.\n\n\nTotal sales to date from the joint operations amount to a total of 3,372\ncarats, representing production up to March 21, 2007 from the first anchor\nspread in the Diaz Point 1 area ("DP1"), realizing a total sales value of\nUS$831,034.\n\n\nDiamond Production\n\n\nSince March 21, the vessel has operated in its second anchor spread\nlocation in the DP1 joint operations area where mining up to April 24 has\nproduced an additional 8,739 diamonds weighing 3,468 carats at an average size\nof 0.40ct/st. This production has not yet been sold. Total diamond production\nfrom both anchor spreads in the DP1 area to date is in excess of 6,800 carats.\n\n\nRepairs and modifications needed to improve mining capacity and\nefficiency were completed at the end of March and full capacity dual airlift\nmining commenced from 1 April 2007 and continues to date. Following joint\nreview of production results and mining methods by DFI and Bonaparte\noperations staff, some adjustments to equipment configuration and mining\nprocedure were also made resulting in further improvements to operational\nperformance: the average daily recovery rate in the current mining area has\nincreased by 86% from an average of 63 carats/day for the last 10 days of\nMarch, 2007 to an average of 117 carats/day for the period 1st to April 24,\n2007.\n\n\nBonaparte has the right to 30% of the proceeds from the sale of diamonds\nrecovered during the mining operations and is obligated to pay 30% of the\noperating and sales costs. The diamond sales were executed in terms of DFI's\nexisting sales agre...