DiamondCorp plc Provides Update on the Lace Mine Project Update
Jul 31 14
DiamondCorp provided the update on the underground development and tailings re-treatment activities at the Lace diamond mine in the Free State province of South Africa. The scoping and mine design studies on the Upper K4 (UK4) Block have been completed and confirm the potential for commercial ramp up from underground kimberlite mining. This can start in first half 2015, six months ahead of schedule, with steady state production of 30,000 tonnes per month achievable by second half 2015. Drilling of the UK4 block is ongoing and to date a mining block totaling approximately 1.5 million tonnes of kimberlite has been outlined which can be mined by bottom up longhole open stoping. Ongoing microdiamond analysis continues to confirm the UK4 Block contains high-grade kimberlite with the potential to yield up to 60 carats per hundred tonnes (cpht) of ore. A revised budget and schedule has been adopted to fund development of the UK4 Block from within existing project finance facilities. Overall mine development costs to date are averaging ZAR 37,051/m against a budget of ZAR 35,327/m. Installation of the underground conveyor belt system has commenced and is on schedule to be used for mining of the UK4 Block. Plans to complete an updated resource statement have been rescheduled so that results from a bulk test of kimberlite extracted from the UK4 Block can be incorporated. This is now expected to be issued in first quarter 2015. Mining of tailings slowed during the quarter as the surface earth moving fleet was diverted to building an additional surface dam in preparation for early production of kimberlite from underground. Diamond recoveries for the three months ended 30 June 2014 totaled 6,102 carats at a recovered grade of 6.32 cpht. This month a 15.2 carat clean white octahedral diamond was recovered from the tailings, the large gem diamond the company has recovered to date. The de-grit circuit has been commissioned and is operating efficiently. Diamond sales for the six months to 30 June 2104 totaled 14,583 carats at an average price of $62 per carat.
Diamondcorp Plc Reports Audited Consolidated and Company Earnings Results for the Year Ended December 31, 2013
Jun 3 14
Diamondcorp Plc reported audited consolidated and company earnings results for the year ended December 31, 2013. For the period, on consolidated basis, the company reported operating loss of GBP 2,179,492 against GBP 3,346,737 a year ago. Loss before taxation was GBP 2,609,904 against GBP 3,534,940 a year ago. Loss attributable to owners of the parent was GBP 2,382,647 or 0.86 pence per basic and diluted share against GBP 3,534,940 or 1.22 pence per basic and diluted share a year ago. Net cash used in operating activities was GBP 3,368,233 against GBP 3,368,233 a year ago. Purchase of property, plant and equipment was GBP 6,765,660 against GBP 6,765,660 a year ago.
For the period, on company basis, the company reported operating loss of GBP 10,977,627 against GBP 927,437 a year ago. Loss before taxation was GBP 11,419,639 against GBP 1,039,777 a year ago. Loss attributable to owners of the parent was GBP 11,419,639 against GBP 1,039,777 a year ago. Net cash used in operating activities was GBP 3,368,233 against GBP 3,368,233 a year ago. Purchase of property, plant and equipment was GBP 6,765,660 against GBP 6,765,660 a year ago.
Diamondcorp Plc, Annual General Meeting, Jun 26, 2014
Jun 3 14
Diamondcorp Plc, Annual General Meeting, Jun 26, 2014., at 14:30 GMT Standard Time. Location: City Group PLC, 4th floor.