September 29, 2009 Pangea Diamondfield Plc reported results for the six months ended 30 June 2009. At Cassanguidi in Angola through the commissioning process a positive adjustment to the final capacity of the new processing facilities has been identified such that full capacity now is expected to be around 37,500 m3 of in situ gravel mined and processed per month, producing around 8,000 carats per month, with cash costs expected to be of the order of US$16 per m3 of in situ gravel mined and processed. At Bakerville, South Africa announced that to date, over 2,000 carats in total have been sold by tender at a weighted average price of US$366 per carat; project resource carats have increased dramatically by 370% to 455,000 carats at a recovered grade of 3.42 ct/100 m3. The Harts River resource was esstimated at 125,000 carats with an average resource value of US$1,043 per carat from 22.7 million cubic metres at a grade of 0.55 carats per hundred cubic metres. The Longatshimo diamond project from DR Congo is on hold but a resource update has been completed which reflects increased confidence in the resource base with 0.49 million carats now in the indicated category and a total resource of 3.57 million carats.
September 15, 2009 Pangea DiamondFields announced the third successful sale by tender of diamonds from its Bakerville project, which is situated within the Lichtenburg Diamond Fields approximately 250km west of Johannesburg, South Africa. The sale yielded an average price of US$238 per carat from a run of mine parcel of 796 carats. To date, over 2,000 carats in total have been sold by tender from Bakerville at a weighted average price of US$366 per carat.
May 11, 2009 Pangea DiamondFields announced the second successful sale by tender of diamonds from its Bakerville Project. The sale yielded an average price of US$236 per carat from a run of mine parcel of 1,016 carats. To date, some 1,233 carats in total have been sold by tender from the Bakerville project at a weighted average price of US$449 per carat.
