31st Oct 2005 08:51
Dwyka Diamonds Limited31 October 2005 Dwyka Diamonds Limited First sale of diamonds from Newlands and sale of large stones from Nooitgedacht Highlights • First sale of diamonds from recently re-opened Newlands Mine completed • 42 carat stone from Nooitgedacht sold for USD 301,018 (USD 7,167 per carat) • Total sales value USD 520,000 Dwyka Diamonds Limited ("Dwyka" or "the Company"), the AIM and ASX listeddiamond producer and project developer, today announced the sale of 883 caratsof diamonds in Kimberley, South Africa. Newlands The first parcel of diamonds from the recently re-opened Newlands Diamond Minewas sold to Diamdel, De Beers' rough diamond trading subsidiary, last week. Theparcel of 347 carats of predominantly white diamonds achieved a price of USD 95per carat for a total sale value of USD 32,930. The value per carat is in linewith the Company's expectations for the Newlands Mine. Nooitgedacht The following large stones were sold from the Nooitgedacht Alluvial Mine: 42 carat stone for USD 301,018 (USD 7,167 per carat)17 carat stone for USD 35,789 (USD 2,105 per carat)11 carat stone for USD 17,777 (USD 1,616 per carat) Additional run of mine production of 468 carats achieved a sale price of USD132,805 (USD 284 per carat) Melissa Sturgess, Executive Chairman of Dwyka Diamonds, commented on the sales:"We are delighted that the first sale of diamonds from the recently re-openedNewlands Mine has achieved a price per carat in line with our expectations. Withrevenue from Newlands ramping up, Blaauwbosch production having recentlycommenced, and recoveries from Nooitgedacht continuing to produce an excellentarray of large, valuable stones, Dwyka is well on its way to sustainable andgrowing cashflows." For further information please contact: In Australia: In United Kingdom:-------------------------- -------------------------Melissa Sturgess Laurence Read/ Leesa Peters-------------------------- -------------------------Dwyka Diamonds Limited Conduit PR-------------------------- -------------------------(+618) 9324 2955 +44 (0)20 7618 8707 / +44 (0)7979 955 923------------------------- -------------------------Or visit: http://www.dwykadiamonds.com -------------------------- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Nyota Minerals