| Wed 23 Apr 2008, 14:30 | | RDI - Rockwell Diamonds Incorporated - Rockwell ac |
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RDI
RDI
RDI - Rockwell Diamonds Incorporated - Rockwell achieves strong prices for its
April 2008 diamond sale
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 TSX: RDI CUSIP Number: 77434W103
Share code on the OTCBB: RDIAF
("Rockwell")
ROCKWELL ACHIEVES STRONG PRICES FOR ITS APRIL 2008 DIAMOND SALE
April 23, 2008, Vancouver - Rockwell Diamonds Inc. ("Rockwell" or the "Company")
(TSX: RDI, JSE:RDI, OTCBB: RDIAF) reports on its third diamond sale for 2008,
completed on April 17th, 2008.
The Company offered a total of 2,712.75 carats for sale, representing diamond
production for the end of February and all of March 2008 from the Wouterspan,
Holpan and Klipdam mining operations. Rockwell realized total revenue of
US$4,527,307 for this sale, representing an average price of US$1,668 per carat.
The operating costs for production during the period were approximately US$3.80
per tonne, a decrease from US$4.00 per tonne during the prior period. Details
of prices achieved for the individual mining operations are included in the
table below. Rockwell receives 74% of the revenues from the sale of the
diamonds from these operations.
OPERATION SALES AVERAGE PRICE
(CARATS) (US$ PER CARAT)
Wouterspan 790.98 1590
Holpan 893.85 1798
Klipdam 1027.92 1615
TOTAL 2712.75 1668
As with the March diamond sale and other tenders this year, prices achieved
for the diamonds sold in this latest sale showed strength in all categories.
The distribution of diamonds larger than 10 carats sold was:
- 25 stones of 10 - 20 carats
- 2 stones of 21 - 30 carats
- 1 stones of 30 - 40 carats
- 4 stones of 40 - 50 carats
- 1 stone of 107 carats
The 107 carat diamond was recovered from the Holpan mine and was sold into the
Steinmetz/Rockwell joint venture agreement to beneficiate selected special
diamonds.
President and CEO John Bristow noted:
"As was the case for the previous two sales of 2008, the market for our
diamonds has again showed strength in all categories. The prices achieved for
this tender were excellent considering that there were fewer high quality white
stones and, in general, the overall qualities of diamonds mined in the period
were not the same as in the previous two tenders. The decline in operating
costs is another positive factor for this sales period.
Further, the Company has recently completed the acquisition of the Middle
Orange River Operations from Trans Hex (see April 16 2008 news release).
Operational staff has mobilized to the Saxendrift property, located across the
river from the Company`s Wouterspan mine and have begun re-commissioning the
exiting Rotary-pan plant and final recovery unit on Saxendrift. Rockwell is
looking forward to additional production from the re-opening of this mine in
the near future."
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
23 April 2008
Johannesburg
Sponsor
Sasfin Capital
(A division of Sasfin Bank Limited)
No regulatory authority has approved or disapproved the information contained
in this news 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. 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 at
www.sec.com and the Company`s home juri
Date: 23/04/2008 14:30:00 Produced by the JSE SENS Department.
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