HomeDiamonds & GemstonesAverage tender price doubles

Average tender price doubles

A 33.75-carat faint
brown diamond from
Paardeberg East, which
sold for US$4 317
(almost R32 400) per
Johannesburg, South Africa — MININGREVIEW.COM — 11 August 2008 – BRC DiamondCore Limited – a growth-focused African diamond explorer, created through the merger of BRC Diamond Corporation of Toronto and DiamondCore Resources of Johannesburg – says 959.46 carats of diamonds from its Silverstreams alluvial and Paardeberg East kimberlite trial mining projects were sold at the company’s fifth tender sale for US$992 555 (R7.4 million).

A news release issued here and in Toronto said this compared with US$668 845 (R5 million) realised from the sale of 1 325.60 carats of stones from these projects at the previous tender sale. The overall average price of US$1 035 (R7 763) per carat was double that achieved at the previous tender.

Company president Mike de Wit, commented: “The higher prices received point both to an encouraging improvement in the prices of diamonds recovered from Silverstreams and Paardeberg East, and perhaps to a further tightening of diamond supplies in the international market.”

The release revealed that a 40.41-carat white frosted dodecahedron from Silverstreams had sold for US$10 118 (R75 885) per carat. Further sales included a 16.52-carat white irregular dodecahedron, which realised US$2 703 (R20 270) per carat, and a 12.00-carat yellow irregular dodecahedron, which fetched US$4 348 (R32 610) per carat.

Other high value stones from Silverstreams were a 9.92-carat off-white octahedron, which sold for US$5 039 (R37 800) per carat, a 6.41-carat white irregular dodecahedron, which fetched US$2 694 (R20 200) per carat, a 6.27-carat fancy yellow flat dodecahedron, which realised US$2 282 (R1 710) per carat, and a 4.14-carat vivid yellow dodecahedron, which sold for US$8 486 (R63 650) per carat.

A total of 282.91 carats of Silverstreams alluvials were sold at an average price of  US$2 615 (R19 610 per carat achieved — up 100% on the previous tender.

Paardeberg East kimberlites reached an average price of US$374 (R2 800) per carat for 676.55 carats – a 92% increase on the previous tender. A 33.75-carat faint brown dodecahedron from Paardeberg East sold for US$4 317 (R32 380) per carat.