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EASTERN DIAMOND PROPERTIES
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Key Facts
Location:
South Africa
0 km of ORANGE RIVER Commodities: Diamond
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Latest Information July 31, 2001 Due diligence work commenced on the Annex Saxondrift property. The Vishoek Mine propery was dropped from the project. July 31, 2001 Due diligence work commenced on the Annex Saxondrift property. The Vishoek Mine propery was dropped from the project.  May 31, 2001 DiamondWorks has entered into a joint venture agreement with Eastern Diamond Co, a private Indian company, to develop three alluvial diamond properties in South Africa. The three projects are located along the Orange River in western South Africa. The Vishoek Mine has a historic production rate of 700 carats per month at an average value of US$750 per month, and the company plans to resume mining after the acquisition is complete. The other two properties are located near Trans Hex's Saxondrift mine. DiamondWorks will earn a 70% interest in the properties for a total payment of US$1.25 million. |
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