2nd Jul 2007 14:37
Lonrho PLC02 July 2007 LONRHO PLC ("Lonrho" or the "Company") Nare Diamonds Sale Sparkles 02 July, 2007 Lonrho (AIM: LONR), is pleased to announce outstanding results from a recentsale of a parcel of diamonds by Nare Diamonds in which it holds a 20.26% stake. Nare, which operates the Schmidtsdrift mine in South Africa, sold 2,394 caratsfor a total of US$2,893,656. The sale, by public tender in South Africa was Nare's second largest since itre-commissioned the Schmidtsdrift mine in April 2006. It achieved the secondhighest average price of US$1,209 per carat. Lonrho announced on the 21st June, 2007 it has increased its shareholding inNare Diamonds from 19.06% to 20.26%. Enquiries: For further information, please contact: Lonrho Africa Plc +44 (0) 20 7016 5105David Lenigas, Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177 Pelham PRCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297 903Candice Sgroi +44 (0) 20 7743 6376 +44 (0) 7894 462 114 Notes to Editors: About Lonrho: Lonrho Plc is an expanding conglomerate that is rapidly growing a successfulbusiness throughout Africa. The Company is listed on the London AIM stockexchange (LONR). Lonrho is strategically focused on the development of businessopportunities in infrastructure, transportation, support services and naturalresources. The Company has over 20,000 shareholders and substantialinstitutional backing to support its mandate to build a profitable business thatplays a fundamental role in the development of the African economy. Since 2006, the Company has invested in or acquired control of: Hotel Cardoso - www.hotelcardoso.co.mz (retained) Nare Diamonds - www.narediamonds.com Brinkley Mining - www.brinkley-mining.com Luba Freeport - www.lubafreeport.com Fly540 - www.fly540.com Norse Air - www.norseair.co.za Swissta Holdings - www.swissta.com Countermine plc - www.countermine.com About Nare Diamonds Ltd Nare Diamonds is an Australian diamond mining company with a portfolio ofexploration and production assets in southern Africa. The Company is headed upby Mr Charles Mostert and has interests in four Diamond mining projects:Schmidtsdrift, Kamfersdam, Groen River and the Klipspringer Joint Venture. The Schmidtsdrift diamond mine is comprised of six contiguous farms located onthe Western bank of the Vaal River covering a total combined area of 320km2. Themine is a producing alluvial diamond mine. Prospecting and trial miningactivities, since 2001, have provided consistent historical production. Rehohave recovered 5,686 carats since April 2006. This was at an average grade of0.63 carats per hundered tonnes, with an average stone size of 1.41 carats. 177stones that exceeded 5 carats in individual size were mined during this periodas well as a rare 235 carat diamond. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lonrho