Rockwell achieves US$1,434 per carat for latest diamond sale
Saxendrift and Holpan yield additional stones larger than 50 carats
Rockwell is currently operating the Holpan and Klipdam mines located north of Kimberley and the Saxendrift mine on the Middle Orange River ("MOR") southwest of Kimberley. Wouterspan, located adjacent to Saxendrift but on the opposite side of the MOR, remains on care and maintenance. All of these operations are located in the Northern Cape Province of
In the latest diamond sale concluded in mid-November, Rockwell achieved an average price of US$1,434 per carat, representing an increase of about 20% over the average price (
Sales and revenues since the start of 2009 were derived from a combination of tenders, direct selling of select goods to specialized manufacturers, sales to the South African State
Diamond Production includes large stone population
The mid-November diamond sales were from production during the period of August to
- 39 stones in the 10-20 carat range - 13 stones in the 20-30 carat range - 7 stones in the 30-40 carat range - 1 stone in the 50-60 carat range - 3 stones above 100 carats.
Rockwell has sold 63 of these high value large stones, which also includes three coloured stones reported in a previous news release (
New large stones
Rockwell has recovered three additional stones larger than 50 carats in size since the beginning of November. These include a 60.8-carat rounded off-white stone from Saxendrift and a 52.4-carat light yellow octahedral stone of excellent clarity from Holpan
Diamond market improving
Rockwell has noted a general improvement in average prices of all goods. Demand for rough stones in the 1 to 10 carat range remains strong, with the strongest buying focused on the 2 to 5 carat market segment. Prices for 3 carat rough stones have been extremely strong since
President and CEO
President and CEO
No regulatory authority has approved or disapproved the information contained in this news release.
Forward Looking Statements
This release includes certain statements that may be deemed "forward-looking statements". Other than statements of historical fact all statements in this release that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that each Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. There is no certainty of the financing completing. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, availability of capital and financing, geopolitical uncertainty and political and economic instability, and general economic, and market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Rockwell, Investors should review Rockwell's annual Form 20-F filing with the
For further information: For further information: on Rockwell Diamonds Inc., please visit the Company's website at www.rockwelldiamonds.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114
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