Guinea Production Update
21 Julho 2009 - 3:00AM
UK Regulatory
TIDMWAD
RNS Number : 9843V
West African Diamonds PLC
21 July 2009
21st July 2009
GUINEA PRODUCTION UPDATE
* 16.27 carat stone sold for USD1,000 per carat
* The remaining 416.73 carats sold for USD34,000
* Overall value of USD116 per carat
* Expansion of production underway
The board of West African Diamonds plc, the AIM listed diamond miner (AIM: WAD),
is pleased to report on the sale of a sample parcel of diamonds from it's 100%
owned Bomboko alluvial diamond mine in Guinea.
The diamond parcel weighing 433 carats was sold in Antwerp for USD50,270. The
largest stone, a 16.27 carat gem, was sold for USD1,000 per carat, with the
remaining 416.73 carats being sold for USD34,000.
WAD is now expanding production at the Bomboko mine from 3,500 to 35,000 tonnes
per month and based on current production expects a grade of 7cpht. The expanded
production plant is currently being commissioned and the higher production rate
is expected to be in place within eight weeks.
James Campbell, Deputy Chairman of West African Diamonds, commented:
"We are pleased with the progress at the Bomboko Mine. The price per carat from
what was a spot sale of a small sample is most encouraging. Combining the carat
value with the grade gives an economical return per tonne of gravel mined. We
are moving quickly to expand production to 35,000 tonnes per month. All
essential equipment is on-site and is currently being commissioned."
Enquiries:
+-----------------------+-----------------------+----------------------------------+
| West African Diamonds plc | |
+-----------------------------------------------+----------------------------------+
| John Teeling, Chairman | + 353 1 833 2833 |
| | |
+-----------------------------------------------+----------------------------------+
| James Campbell, Deputy Chairman | +27 83 457 3724 |
| | |
+-----------------------------------------------+----------------------------------+
| Astaire Securities plc | +44 (0)20 7448 4400 |
| Andrew Raca | |
| Jerry Keen | |
+-----------------------------------------------+----------------------------------+
| College Hill | +44 (0) 20 7457 2020 |
| Paddy Blewer | |
| Nick Elwes | |
+-----------------------+-----------------------+----------------------------------+
www.westafdiamonds.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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