JOHANNESBURG (miningweekly.com) – Aim-listed DiamondCorp on Tuesday said the diamonds yielded at its Lace mine during August remained of a high quality, despite operational setbacks during the month.
Four stones larger than 10 ct were recovered, including a 12.7 ct diamond that will be sold in October.
Production from the first mining block on the 310 m level was interrupted in August by flooding after development drilling for the return air pass from the production level intersected a geological contact with significant water inflow, flooding the production level.
Specialist contractors were called in to seal the flow.
Seventeen production days were lost owing to the flooding and, as a result, only 5 700 ct will be put up for sale in September, rather than the 7 000 ct previously planned.
During the month under review, significant tonnage of lower-grade kimberlite was mined to allow access to the clean K4 trough kimberlite.
This resulted in lower total tonnage for the month as well as a lower recovered grade.
In light of the ramp-up problems encountered, the production forecast for the remainder of 2016 has been rebudgeted, for 20 000 t in September; 25 000 t in October and 30 000 t in November and December.
Meanwhile, DiamondCorp narrowed its net loss for the six months to June 30 to £247 000, compared with the loss of £3.16-million in the same period last year.
Its first tender in Antwerp, Belgium, will be concluded on September 17, with results to be announced on September 20.
Subsequent monthly sales will be concluded around the middle of each month.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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