HomeDiamonds & GemstonesGood first tender for BRC Diamond Core

Good first tender for BRC Diamond Core

Aerial view of Paardeberg
East – one of BRC
Diamondcore’s South
African sites
Toronto, Canada — MININGREVIEW.COM — 05 March, 2008  – BRC DiamondCore Limited – a development company formed to focus on diamond exploration and production in southern and central Africa – reports the achievement of encouraging sales results from its first diamond tender.

A company announcement here late yesterday revealed the results of tender sales conducted on February 29, 2008 to confirm valuations of the diamond product derived from its Paardeberg East kimberlite and Silverstreams alluvial bulk sampling project sites in South Africa.

The highlights of the tender sales included the following:

  • The Silverstreams "run of mine" production was valued at US$1,446 (R10 845) per carat. The "special stones" (+10.8 carats in size) amounted to 50.46 carats (comprising 7% by weight) and achieved a total value of US$457 707 (R3.4 million), comprising 46% by value;
  • The special stones at Silverstreams constituted a 12.26 carat stone – D colour cleavage, which sold for US$15,175 (R113 800) per carat; a 13.53 carat stone – white cleavage, which sold for US$7,960 (R59 700) per carat; and a 24.67 carat stone – light yellow dodecahedron, which sold for US$6,405 (RR48 000)per carat;
  • The Paardeberg PK1-East average value was US$204 R1 530 per carat, which has a high level of confidence due to the sample size

BRC DiamondCore Limited (formerly named BRC Diamond Corporation) last month completed the acquisition of all of the outstanding shares of Diamond Core Resources Limited, thereby effecting the merger of its business with that of Diamond Core.