Lerala Diamond Mine To Start Early 2008
| Monday November 5, 2007 00:00
The company has projected that 330,000 carats of diamonds will be mined at Lerala per year.
'Plant construction is now well advanced and initial mining for stockpiling of diamondiferous ore has commenced,' said Greg King, chairman of DiamonEx in the company's annual report October 31, 2007.
'While progress has been somewhat slower than anticipated last year, plant commissioning is expected in early 2008.' He added that the first sale of diamonds from the mine will also take place in the first quarter of next year.
DiamonEx more than doubled its losses for the fiscal year ending June 30, 2007 to $2.1 million. Revenues rose 164 percent to $123,170.
(Rapaport News)