Pangea provdes strong first tender for Dimbi
by Jo Black
Pangea Diamondfields plc, the mid-tier diamond producer and exploration company announces the first sale of diamonds produced at it’s Dimbi project in the Central African Republic.
The first tender achieved from the sale of 3,671 carats yielded an average value per carat of USD166.44. The results from the first sale are particularly important, as they give an indication of the probable value of future production from the Dimbi project.
Commenting on the sale, Chief Executive Officer, Rob Still said, this result is extremely encouraging for the future of our Dimbi project representing almost a 20% premium over the targeted value of USD140 per carat. Buoyed by these results the Pangea team is busy scaling the project up to Pilot Mining status to accelerate resource development, with a view to making a decision on scaling up to full scale commercial operations by mid year.
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