Diamond Fields reports record sales in June

19 Jul '05

2 min read

Canada based diamond producer Diamond Fields International Ltd announced its recent diamond sale of 1,356 carats at an average price of US $ 203 per carat, for a total gross sale of US $ 275,268. The price received for these diamonds is in line with the average price of US $ 205 per carat for sales during the first half of the Company's 2005 fiscal year, and is substantially above the US $ 146 per carat average price received in fiscal year 2004.

This sale included 1,296 carats of rough diamonds, sold for an average price of US $ 205 per carat, produced by Diamond Field's ship MV DF Discoverer during commissioning and initial operations through June 26th.

The remainder consisted of a small quantity of previously recovered stones which sold for US $ 165 per carat.

Gregg J. Sedun, President and CEO of Diamond Fields stated: "This initial sale of production from their own ship is a significant milestone for their Company. Moreover, the high price received is very encouraging, as it demonstrates a continued strong market for Diamond Field's high-quality Namibian product."

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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