| Tue 4 Dec 2007, 9:33 | | RDI - Rockwell - Rockwell Diamonds Obtains Record Price Of US$145,000 Per Carat |
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RDI
RDI
RDI - Rockwell - Rockwell Diamonds Obtains Record Price Of US$145,000 Per Carat
For A 7.28 Carat Pink Diamond
ROCKWELL DIAMONDS INCORPORATED
(A company incorporated in accordance with the laws of British Columbia, Canada)
(Incorporation number BCO354545)
(Formerly Rockwell Ventures Inc.)
(South African registration number: 2007/031582/10)
Share code on the JSE Limited: RDI & ISIN: CA77434W1032
Share code on the TSXV RDI CUSIP Number: 77434W103
Share code on the OTCBB: RDIAF
("Rockwell")
Rockwell Diamonds obtains Record price of US$145,000 per carat for a 7.28 carat
pink diamond
December 3, 2007. Vancouver, B.C. - Rockwell reports on the sale of a rare 7.28
carat pink diamond recovered from its Holpan operation north of Kimberley in the
Northern Cape Province, South Africa.
At the Company`s 10th tender sale concluded in Johannesburg on November 28,
2007, Rockwell achieved a record price of US$1.054 million or US$145,000 per
carat for a 7.28 carat, flawless intense pink, rounded octahedral diamond
produced at the Holpan operation. At Holpan, the Company is mining diamond
bearing surface alluvial material referred to as Rooikoppie deposits, and
scattered remnants of underlying palaeo-channel gravel deposits.
The US$145,000 per carat value achieved for this stone is exceptional. It
represents a record price for diamonds sold by the Company since Rockwell
acquired its 51% ownership in the H C Van Wyk Diamonds Limited alluvial diamond
operations and projects in South Africa in early 2007.
Pink diamonds are exceptionally rare on a world wide basis, with the only source
known to produce such stones with some regularity being the Argyle diamond mine
in Western Australia. The Argyle mine, which is owned by Rio Tinto, is famous
for its annual `pink diamond tender`.
President and CEO Dr. John Bristow stated "The recovery of a pink diamond from
our Holpan operation is particularly exciting. The achievement of a record price
for this stone attests to the potential for exceptional rarity, quality and
value of the diamonds that are recovered from our unique Northern Cape alluvial
diamond deposits."
For further details on Rockwell Diamonds Inc., please visit the Company`s
website at www.rockwelldiamonds.com or contact Investor Services at (604) 684-
6365 or within North America at 1-800-667-2114.
John Bristow
President and CEO
Johannesburg
4 December 2007
Sponsor
Sasfin Capital
A division of Sasfin Bank Limited
No regulatory authority has approved or disapproved the information contained in
this news release. The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release.
Forward Looking Statements
This release includes certain statements that may be deemed "forward-looking
statements". Other than statements of historical fact all statements in this
release that address future production, reserve or resource potential,
exploration drilling, exploitation activities and events or developments that
each Company expects are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those
in the forward-looking statements. There is no certainty of the financing
completing. Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices, exploitation and
exploration successes, changes in and the effect of government policies
regarding mining and natural resource exploration and exploitation, availability
of capital and financing, geopolitical uncertainty and political and economic
instability, and general economic, and market or business conditions. Investors
are cautioned that any such statements are not guarantees of future performance
and that actual results or developments may differ materially from those
projected in the forward-looking statements. For more information on Rockwell,
Investors should review Rockwell`s annual Form 20-F filing with the United
States Securities and Exchange Commission www.sec.com and the Company`s home
jurisdiction filings that are available at www.sedar.com.
Date: 04/12/2007 09:33:24 Produced by the JSE SENS Department.
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