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Guinea Production Update21 July 2009The board of West African Diamonds plc, the AIM listed diamond miner (AIM: WAD), is pleased to report on the sale of a sample parcel of diamonds from it's 100% owned Bomboko alluvial diamond mine in Guinea. 21st July 2009
GUINEA PRODUCTION UPDATE
¨ 16.27 carat stone sold for USD1,000 per carat ¨ The remaining 416.73 carats sold for USD34,000 ¨ Overall value of USD116 per carat ¨ Expansion of production underway – 10 times current capacity
The board of West African Diamonds plc, the The diamond parcel weighing 433 carats was sold in WAD is now expanding production at the Bomboko mine from 3,500 to 35,000 tonnes per month and based on current production expects a grade of 7cpht. The expanded production plant is currently being commissioned and the higher production rate is expected to be in place within eight weeks.
James Campbell, Deputy Chairman of West African Diamonds, commented: “We are pleased with the progress at the Bomboko Mine. The price per carat from what was a spot sale of a small sample is most encouraging. Combining the carat value with the grade gives an economical return per tonne of gravel mined. We are moving quickly to expand production to 35,000 tonnes per month. All essential equipment is on-site and is currently being commissioned.”
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