23rd Mar 2005 08:49
Dwyka Diamonds Limited23 March 2005 Dwyka Diamonds Limited US$360,000 Sale of exceptional stone from South Africa The Directors of Dwyka Diamonds ("Dwyka" or "the Company") announce today thesale of a single 54 carat diamond for US$360,000 (US$6,666 per carat) from theCompany's Nooitgedacht Mine in South Africa. The diamond was sold at tender in Kimberley. This follows a sale last week (17th March 2005) by Dwyka of a 576 carat parcelof diamonds from Nooitgedacht worth US$200,000 to Diamdel, De Beers roughdiamond trading subsidiary. The recent high grades at the project are the resultof a restructuring and retooling exercise undertaken by Dwyka in 2004 to bringthe operation to optimum production. Following the introduction of newextraction methods and sorting equipment at Nooitgedacht, costs have beensignificantly reduced and higher value diamonds have been recovered. Commenting on the sale, Dwyka's CEO Melissa Sturgess said, "With regular largediamonds being recovered and high average values such as the US$347/ct from oursale last week, the Nooitgedacht Mine is a solid producing asset in ourportfolio. With a clear commitment to expand production Dwyka continues topursue exploration in India with our alliance partner BHP. We are alsofinalising the evaluation of a number of near-term production possibilities insouthern Africa." For further information please contact: In Australia: In United Kingdom:-------------------------- -------------------------Melissa Sturgess Joe Nally-------------------------- -------------------------Dwyka Diamonds Limited Williams de Broe Plc-------------------------- -------------------------(+618) 9324 2955 +44 (0)20 7588 7511-------------------------- --------------------------------------------------- ------------------------- Laurence Read/ Leesa Peters-------------------------- ------------------------- Conduit PR-------------------------- ------------------------- +44 (0)20 7936 9095 / +44 (0)7979 955 923-------------------------- ------------------------- www.dwykadiamonds.com------------------------------------------------ This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Nyota Minerals