Business
Namibian Marine Operations Update
Namibian Marine Operations Update.
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\nCAPE TOWN, Oct. 9 /CNW/ - Diamond Fields International Ltd. (DFI:TSX)\n("DFI" or the "Company") announces improved diamond production after seasonal\ndownturn from marine diamond mining joint operations ("JO") with Bonaparte\nDiamond Mines NL ("Bonaparte"), latest sales result and the start of resource\ndevelopment sampling this month.\n\n\nProduction and sales\n\n\nAs anticipated, marine diamond production from the JO mining area in\nDFI's ML111 licence off Luderitz, Namibia, has improved. This follows the\nrecoveries of the previous two months which were seasonally affected by winter\nconditions. Production for the month of September was 1,618 carats from 4,060\ndiamonds with an average size of 0.40 carats/stone.\n\n\nAs a result of the impact of poor weather on the equipment in the\npreceding month, mining in September was largely confined to a single airlift\noperation. Though production capability is reduced with only one airlift\noperating, working costs are reduced as a result of lower fuel consumption.\nHowever, good progress has been made to return both mining systems to full\navailability for ongoing operations. Better recoveries are expected to\ncontinue in October as a result of improvements in both weather and mining\ncapacity. To 30 September 2007 total production from the JO area now stands at\n16,245 carats from 37,963 diamonds at an average size of 0.43 carats/stone.\n\n\nThe latest parcel of 1,271.27 carats was sold last week and realized\nUS$272,637 at an average price of US$214.46 per carat. Sales of production\nunder the JO up to September 18, 2007 comprise a total of 15,566 carats\nrealizing US$3,411,469 at an average price of US$219.16 per carat.\n\n\n2007 Marine Sampling Programme\n\n\nCommencement of the resource development sampling programme announced in\na news release dated September 6, 2007 is scheduled for late October. The\nsampling vessel MV Douglas Bay, chartered by Bonaparte from De Beers Marine\n(Pty) Ltd, is being mobilised in Cape Town. This vessel was used successfully\nin 2006 to define the initial JO mining resource of 63,000 carats. The\nsampling programme will run for a period of 35-50 days depending on results.\nThis will again incorporate an intensive programme of grid-based sampling\nwhich will be focused on substantially increasing the...