Sale of 31.4 carat diamond
03 Abril 2008 - 6:22AM
UK Regulatory
RNS Number:5444R
KimCor Diamonds plc
03 April 2008
03 April 2008
KimCor Diamonds plc
("KimCor" or the "Company")
Sale of 31.4 carat diamond
KimCor is pleased to announce the sale of a 31.4 carat diamond recently
recovered from the Company's Nooitgedacht alluvial diamond mine at private
tender on 2 March 2008.
* The stone sold for a unit price of US$226,080, or US$7,200 per carat;
* The average sales value per carat for Nooitgedacht diamond production
for the financial year to date is US$1,300 per carat; this compares with the
budget sales price used by the Company of US$500 per carat;
* Since the acquisition of the Nooitgedacht by KimCor, the average
recoverable grade of gemstone diamonds has increased from 0.55 to 1.40 carats
per hundred tonnes ;
* An 18.5 carat stone, also recently recovered at Nooitgedacht, is
scheduled for sale by tender during April.
Martyn Churchouse, CEO of KimCor, commented "The most encouraging aspect of the
improvement in both grade and production rate at Nooitgedacht has been the
regularity with which we are recovering both larger high value stones as well as
stones of good quality in the 1 to 5 carat range that provide the ideal product
required by the Group's subsidiary, Anmic, to add value by cutting and polishing
".
Enquiries:
KimCor Diamonds plc Tel: 020 3178 6179
Martyn Churchouse
Strand Partners Limited Tel: 020 7409 3494
Simon Raggett
Warren Pearce
Victoria Milne-Taylor
Bishopsgate Communications Ltd Tel: 020 7562 3350
Maxine Barnes
Nick Rome
This information is provided by RNS
The company news service from the London Stock Exchange
END
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