Diamond producer and exploration company Pangea DiamondFields plc (AIM: PDF) says that recent prices realised for sale of its diamond production in Angola have continued to exhibit an upward trend.
The sale of 2,813 carats, which took place last week in Luanda, yielded an average price of US$160.00 per carat before sales taxes. This represents approximately 89% of the company’s long term target price of US$180.00 per carat, a target which was set prior to the fall in the price of diamonds in 2009, and is well in excess of the currently budgeted level of US$140 per carat.
About Pangea Diamondfields PLC
Pangea DiamondFields plc (AIM: PDF) is an emerging diamond producer and exploration company with a portfolio of eight projects each with multiple resource targets, located in the Central African Republic, Democratic Republic of the Congo, South Africa and Angola. The Company aims to minimise risk by diversifying its projects geographically.
PDF listed on AIM in October 2006 and is led by a strong management team, with a track record for creating shareholder value in mineral exploration.
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- Pangea DiamondFields Acquires Additional Mining Equipment for Cassanguidi
- Boris Kamstra Takes Over Helm of Pangea DiamondFields
- Pangea DiamondFields: Upgrade of Processing Facilities at Cassanguidi Diamond Project in Angola is Complete
