KDL rebuffs Lerala sale speculation

Thursday, October 02, 2014

Australia-based Kimberley Diamonds Limited (KDL) says it has no intentions of selling its Lerala diamond mine. The company released a statement on Monday, responding to rife market speculation that the miner was on the verge of disposing of the mining project.

“It has come to the board’s attention that there have been rumours in the market that KDL is attempting or intending to sell Lerala. Such rumours are not true. KDL has no intention of selling Lerala,” the board said in a statement to the ASX.

The Lerala mine, which was acquired in February, contains 3.253 million carats valued at an average price of $74 per carat, while Smoke Creek contains an estimated 6 million carats at an average price of $30 per carat.

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KDL rebuffs Lerala sale speculation

Australia-based Kimberley Diamonds Limited (KDL) says it has no intentions of selling its Lerala diamond mine. The company released a statement on Monday, responding to rife market speculation that the miner was on the verge of disposing of the mining project.