Wrap Text
RDI - Rockwell Diamonds Incorporated - Extraordinary production of 373 Carats in
one day at Saxendrift and finalization by DMR of section 11
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
EXTRAORDINARY PRODUCTION OF 373 CARATS IN ONE DAY AT SAXENDRIFT
FINALIZATION BY DMR OF SECTION 11 CESSION: SOUTH AFRICAN GOVERNMENT GRANTS
RIGHTS FOR TIRISANO PROJECT
August 8, 2011 Vancouver, BC -- Rockwell Diamonds Inc. ("Rockwell" or the
"Company") (TSX:RDI; JSE:RDI, OTCBB:RDIAF) announced today that its Saxendrift
mine produced a windfall day`s production on August 2, 2011 and stated it had
received confirmation of the Section 11 cession by the Department of Mineral
Resources (DMR) for its Tirisano acquisition.
AN EXTRAORDINARY DAY`S PRODUCTION AT SAXENDRIFT ON TUESDAY AUGUST 2, 2011:
On Tuesday August 2, 2011 373 carats were recovered at Rockwell`s Saxendrift
mine representing approximately half of the mine`s budgeted monthly production
in a single day. This is not only a record at the mine, but the highest daily
production ever achieved within Rockwell`s five year operating history. Among
the stones recovered were four large stones weighing 180, 94, 43 and 34 carats.
"Rockwell`s competitive advantage in the diamond world is the regular production
of large high quality diamonds and although recoveries such as recently
experienced at Saxendrift are rare they enhance the profitability of our mines."
explains Campbell. "Saxendrift has a similar diamond distribution to both
Wouterspan and Niewejaarskraal, which are next in a pipeline of development
projects that Rockwell plans to bring on stream using improved diamond recovery
processes."
FINALIZATION OF SECTION 11 DOCUMENTATION AT TIRISANO:
Rockwell is pleased to announce that the last outstanding conditions for the
completion of the Tirisano acquisition have been fulfilled. The senior debt
which was provided by the Industrial Development Corporation was restructured in
July 2011 and the Section 11 cession approval from the DMR was received on
Friday August 5, 2011.
Rockwell can now take ownership of the mining rights at Tirisano and bring the
first two streams (production lines) of the newly built processing plant into
commercial production which is planned for the end of the third quarter.
"We would like to extend our sincere appreciation to the DMR for diligently
following up on the process to ensure that we could complete our acquisition and
unlock the potential of this mine," explains James Campbell, CEO, Rockwell. "Not
only will Tirisano be an important operation in Rockwell`s portfolio but it will
create more than 200 jobs once it is in full production, contributing to the
socio economic development of the Ventersdorp region and more specifically the
economic upliftment of our BEE partners, the local Mogopa community."
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 is also at an advanced stage of completing the
acquisition of the Tirisano property.
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.
Canada
8 August 2011
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Date: 08/08/2011 14:30:01 Supplied by www.sharenet.co.za
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