Wrap Text
RDI - Rockwell Diamonds Incorporated - Sale of Unique Polished Rockwell Diamond
ROCKWELL DIAMONDS INCORPORATED
(A company incorporated in accordance with the laws of British Columbia, Canada)
(Incorporation number BCO354545)
(Formerly Rockwell Ventures Inc.)
(South African registration number: 2007/031582/10)
Share code on the JSE Limited: RDI ISIN: CA77434W2022
Share code on the TSX: RDI CUSIP Number: 77434W103
Share code on the OTCBB: RDIAF
SALE OF UNIQUE POLISHED ROCKWELL DIAMOND
December 5, 2011 Vancouver, BC - Rockwell Diamonds Inc. ("Rockwell" or the
"Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) is pleased to announce the sale of
a unique investment diamond recovered from its Saxendrift mine, which formed one
of a pair of matching D-color, flawless clarity, diamonds with excellent cut,
polish and symmetry weighing approximately 35 carats each. The diamonds were
sold on auction by Christies in Hong Kong on November 27, 2012 fetching a price
of $232,000 per carat including the buyer`s premium.
The 105.53 carat rough diamond was recovered from Saxendrift in October 2009 and
sold into the Company`s beneficiation joint venture with Steinmetz Diamond
Group. Rockwell`s share in the profit from the sale of the 35.77 carat polished
diamond added a further $1.9 million to its rough sale price. In addition, two
emerald cut DIF diamonds weighing 3.07 carats and 2.03 carats respectively, were
produced from this rough diamond.
"This once again demonstrates the benefits of our strategic partnership with
Steinmetz, which has extensive benefits for both partners," explains James
Campbell, CEO, Rockwell. "Rockwell was the first diamond producer to forge such
an agreement, enabling us to participate in the downstream value created from
the polishing and cutting of our stones into unique investment diamonds. At the
same time it has enabled Steinmetz to secure high quality stones such as those
typically produced by Rockwell."
For further information on Rockwell and its operations in South Africa, please
contact
James Campbell
CEO
+27 (0)83 457 3724
Stephanie Leclercq
Investor Relations
+27 (0)83 307 7587
ABOUT ROCKWELL DIAMONDS:
Rockwell is engaged in the business of operating and developing alluvial diamond
deposits, with a goal to become a mid-tier diamond mining company. The Company
has three existing operations, which it is progressively optimizing, two
development projects and a pipeline of earlier stage properties with future
development potential.
Rockwell also evaluates merger and acquisition opportunities which have the
potential to expand its mineral resources and production profile and would
provide accretive value to the Company.
No regulatory authority has approved or disapproved the information contained in
this news release.
FORWARD LOOKING STATEMENTS
Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. Although the Company believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from those in
forward-looking statements include uncertainties and costs related to
exploration and development activities, such as those related to determining
whether mineral resources exist on a property; uncertainties related to expected
production rates, timing of production and cash and total costs of production
and milling; uncertainties related to the ability to obtain necessary licenses,
permits, electricity, surface rights and title for development projects;
operating and technical difficulties in connection with mining development
activities; uncertainties related to the accuracy of our mineral resource
estimates and our estimates of future production and future cash and total costs
of production and diminishing quantities or grades if mineral resources;
uncertainties related to unexpected judicial or regulatory procedures or changes
in, and the effects of, the laws, regulations and government policies affecting
our mining operations; changes in general economic conditions, the financial
markets and the demand and market price for mineral commodities such and diesel
fuel, steel, concrete, electricity, and other forms of energy, mining equipment,
and fluctuations in exchange rates, particularly with respect to the value of
the US dollar, Canadian dollar and South African Rand; changes in accounting
policies and methods that we use to report our financial condition, including
uncertainties associated with critical accounting assumptions and estimates;
environmental issues and liabilities associated with mining and processing;
geopolitical uncertainty and political and economic instability in countries in
which we operate; and labour strikes, work stoppages, or other interruptions to,
or difficulties in, the employment of labour in markets in which we operate our
mines, or environmental hazards, industrial accidents or other events or
occurrences, including third party interference that interrupt operation of our
mines or development projects.
For further information on Rockwell, Investors should review Rockwell`s annual
Form 20-F filing with the United States Securities and Exchange Commission
www.sec.com and the Company`s home jurisdiction filings that are available at
www.sedar.com.
Canada
5 December 2011
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 05/12/2011 15:30:01 Supplied by www.sharenet.co.za
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