DFI hits record diamond sales prices

Diamond Fields International Ltd. announces that its most recent diamond sales conducted through Diamond Tenders, Belgium, DFI’s partially-owned diamond marketing company in Antwerp, Belgium, achieved record prices.

The Company sold 1,958.19 carats at an average price of $258.36 USD per carat, a 21% increase over last year’s average sale price of $213 USD per carat. Total carats recovered for the month of March was 2,763.28, the Company’s best month since May 2007, and the third best month since January 2007.

Ship availability to mine, meaning the amount of time the mv DF Discoverer was actually mining, exceeded 80% during March: an all-time high. Total carats recovered to the end of the firstquarter 2008 totalled 5,882.74 on 15,626 gem quality stones, with an average weight of 0.38 carats per stone.

Wayne Malouf, DFI’s CEO said, obviously management is very pleased with the improved production figures. They are directly attributable to an overhaul of the marine operation in February conducted by Joe Martin, Peter Schroeder and their marine team. Most important is the significant improvement in ship availability, a prerequisite in our program to make the marine operation more efficient.

Source : www.diamondfields.com

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