Diamond Fields presents business revise

25 Nov '05

3 min read

A total of 3,727 carats were sold at an average price of approximately $201 per carat generating revenue of $750,141. Comparatively, the Company sold 20,799 carats in the three months ended September 30 2004 at an average price of $210 per carat generating revenue of $4,376,775.

The Company generated an operating loss of $(99,387) for the quarter ended September 30, 2005 compared with $2,455,718 for the quarter ended September 30, 2004. Factors contributing to the loss included downtime due to equipment failures on the mv DF Discoverer, along with weather delays, a port call for refueling, and the unpredictable grade of the resource.

Diamond Fields also announces the results of its third diamond sale of the year, which consisted of 1,965 carats sold at an average price of US $ 158.87 per carat, for total gross proceeds of US $ 312,181.

Diamond Fields International Ltd is an internationally active exploration and mining company pursuing mineral exploration opportunities worldwide. The company also manufacturers diamonds. Its corporate strategy is to maximize cash flow from its Namibian marine diamond concessions and systematically explore and develop its international mineral exploration projects.

In addition, the Company continues to explore opportunities to acquire new economic mineral projects worldwide.

Diamond Fields International Ltd

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