Congo, Dem. Rep. of
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.
May 18, 2009
Pangea DiamondFields plc announces the recent sale by tender of diamonds from its Longatshimo River and Tshikapa River projects in the Democratic Republic of Congo ("DRC") projects, as well as its Dimbi project in the Central African Republic ("CAR"). The sale of approximately 5,710 carats which took place last week in Antwerp raised gross proceeds of US$670,000.
December 31, 2008
Pangea reported that results of bulk sampling at the Patsema project during 2008 have been encouraging. Due to the excellent results, a decision was taken to increase the capacity of the plant at the Zamenkomst site and to purchase the farm on which the plant and part of the large diamond resource is situated. More than 400 carats of diamonds were recovered from the plant during 2008. Diamonds were recovered from the various gravels tested at Harts, however the results were not considered sufficient to warrant further exploration. At Longatshimo it was found that the diamondiferous gravel increased in volume and grade under the thicker cover - i.e. at a higher elevation than the river. Grades ran as high as 108 carats/m3. At Tshikapa, an additional 63 mega pits were dug during 2008 of which one returned 228 carats/100m3. Dimbi and Etoile CAR operations were suspended pending better economic conditions.