Petra provides Kono update
by Sarah Wilsdon
Petra Diamonds, the operator of the Kono project in Sierra Leone, has recovered 1,049 carats (12,132 diamonds) of diamonds during trial mining to end May 2008 at Kono project.
The company plans to place a parcel of 800 carats of diamonds from Kono on sale in its first diamond tender from the mine scheduled for August, 2008.
The company said that the electromagnetic survey (3,167 line km) has now completed over Kono project area; target identification and follow-up to commence shortly.
Johan Dippenaar, CEO of Petra, said, trial mining operations at the Kono project continue to deliver encouraging results, including the increases in grade now being achieved. The first tender of Kono diamonds this August will give an indication of the average value per carat for this project and as diamond production from the trial mining increases over the coming months, we will also be able to offset total project expenditure against revenues generated by regular diamond sales.
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