Business
Strong Marine Production and Sales for the Quarter ended June 30, 2007
Strong Marine Production and Sales for the Quarter ended June 30, 2007.
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\nSYMBOL: DFI\n\n\nCAPE TOWN, South Africa, Aug. 1 /CNW/ - Diamond Fields International Ltd.\n(DFI:TSX) ("DFI" or the "Company") announces strong production and sales\nresults for the quarter ended June 30, 2007 from marine diamond mining joint\noperations ("JO") with Bonaparte Diamond Mines NL ("Bonaparte").\n\n\nKey points:\n\n - Total JO production for the June 2007 quarter of 20,269 gem diamonds\n weighing 8,279 carats at an average size of 0.43 carats/stone.\n\n - Three JO diamond sales of 9,224 carats completed in the quarter\n generating total revenue of US$1,919,676 (70% (DFI): 30% (Bonaparte)\n revenue and operating costs split).\n\n - Total JO sales to date of 10,567 carats sold for US$2,266,018 at an\n average value of US$214/carat.\n\n - Amended JO agreement resulting in expansion of JO resource area to\n 10.1 km2 and increase in Bonaparte's interest to a 35% share of\n agreed cost and revenues when mining is undertaken with DFI's vessel\n MV DF Discoverer in expanded area.\n\n - Marine sampling program in expanded JO area planned for\n implementation in second half of 2007.\n\n\nMining Activities\n\n\nThe DFI/Bonaparte JO marine diamond mining operation off Luderitz,\nNamibia continued throughout the quarter with strong results, and has now been\noperating for a total of 5 months since commencement in late January 2007.\n\n\nJO diamond production of 8,279 carats for the June 2007 quarter\nrepresents an increase of 78% over production achieved in the previous\nquarter. During both April and May, successive monthly record productions were\nachieved, driven by the full availability of the dual airlift mining system\nwhich was established at the end of March 2007. Production for April reached\n3,189 carats and in May reached 3,529 carats. In June the production declined\ndue to poor seasonal (winter) weather conditions and resultant technical\nproblems affecting operations. For part of this month only one airlift could\nbe operated. During the September 2007 quarter operational improvements are\nagain anticipated as a result of improving weather and the ongoing replacement\nand repair of key pieces of equipment.\n\n\nJO mining results continue to meet expectations from the resource, and as\na result large stones have been regularly recovered with diamonds in excess of\n2.0 c...