19th Apr 2016 08:40
LONDON (Alliance News) - Miner DiamondCorp PLC on Tuesday said it has sold two stones from the Lace diamond mine in Australia and said it has purchased additional equipment for its operations.
DiamondCorp said a 22.1 carat diamond sold to its benefication joint venture in January has been manufactured into two high-quality diamonds.
Those diamonds have been sold for USD261,361, with Diamond Corp getting half the profit from the sale.
"This is an early indication of the significant additional value which can be created through beneficiating special and exceptional quality diamonds from Lace and gives management insight into how the stones perform when they are cut and polished," said DiamondCorp Chief Executive Paul Loudon.
DiamondCorp also said it has acquired four additional dump trucks for the Lace mine in order to address breakdowns in its existing fleet of underground trucks and loaders.
Shares in DiamondCorp were flat at 8.00 pence Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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