SYMBOL: DFI
CAPE TOWN, South Africa, Nov. 23 /CNW/ - Diamond Fields International
Ltd. (DFI:TSX) ("DFI" or the "Company") is pleased to announce that, further
to its press release dated October 26, 2006, the Company filed on November 23,
2006 its interim financial statements for the three-months ended September 30,
2006 and management's discussion and analysis. Accordingly, the Company is now
permitted to proceed with its filings with Canadian securities regulators in
connection with the previously announced proposed rights offering. Further
details on the proposed rights offering will be announced separately in due
course.
DFI is also pleased to announce that in connection with the previously
announced standby guarantee agreement between the Company and Spirit Resources
SARL ("Spirit"), Spirit has advanced to the Company an additional
Cdn$0.1 million, for an aggregate of Cdn$1.8 million advanced to date, to be
applied towards Spirit's participation in the proposed rights offering of the
Company. Such advance will, pending completion of the rights offering,
constitute a non interest bearing loan from Spirit to the Company. Please
refer to the Company's news release dated September 1, 2006 for further
details on the standby guarantee agreement and Spirit's participation in the
rights offering. With the receipt of the additional funds from Spirit, the
Company has completed the dry-docking, maintenance and repair of the mv DF
Discoverer and the vessel resumed mining operations offshore Luderitz, Namibia
on November 19, 2006.
DATED November 23, 2006.
DIAMOND FIELDS INTERNATIONAL LTD.
"Roger J. Daniel"
Roger J. Daniel, President and CEO
Forward-Looking Statements:
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
identified in Diamond Fields' periodic filings with Canadian Securities
Regulators. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary materially.
Diamond Fields does not assume the obligation to update any forward-looking
statement.
