Wrap Text
Recovery of four rough diamonds exceeding 100 carats
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
ROCKWELL RECOVERS FOUR ROUGH DIAMONDS EXCEEDING 100 CARATS
September 17, 2013 Vancouver, BC – Rockwell Diamonds Inc.
("Rockwell" or the "Company") (TSX: RDI; JSE: RDI) is pleased
to announce that it has recovered four rough diamonds each
exceeding 100 carats in weight, from its operations in the
Middle Orange River (“MOR”) region during the past three
weeks. In addition, the Company has recovered a higher than
average number of diamonds smaller than 100 carats. This
reinforces management’s decision to focus operations in this
region and embrace new processing technology.
Two stones weighing 116 carats and 138 carats were recovered
at the Saxendrift processing plant from gravels originating
from the Saxendrift Extension pit. In addition, a 126-carat
stone and a 169-carat stone were recovered from a mining area
that has recently been opened up at the Saxendrift Hill
Complex (“SHC”). The recently commissioned SHC plant utilizes
Bourevestnik X-ray technology in both the concentration and
recovery areas.
All of these stones will be sold into the beneficiation joint
venture with Steinmetz Diamonds at market value. Rockwell will
also participate equally in the value uplift once these stones
have been polished and sold.
The frequency of Rockwell’s recoveries in the 20 to 100 carat
category has improved with the commissioning of SHC and
Niewejaarskraal as well as integrating the Saxendrift
Extension into Saxendrift’s mine plan. Implementation of
diamond value management principles and fit for purpose
technologies also contributed to the improvement.
Commenting on the recovery of these large, high valued stones
James Campbell, CEO and President said:
“Recovery of four rough diamonds exceeding 100 carats within a
three week period is a milestone in our objective to grow
production in the MOR region where we have a significant
inventory of high value in situ diamonds. It also attests to
the quality of our recovery processes where the implementation
of fit-for-purpose technology has improved our ability to
recover large stones. This includes the Bulk X-ray technology
which we pioneered in the full production environment at SHC
as well as our strong skills at Saxendrift where efficiency
initiatives in the pan plant are paying off.”
“Our objective to increase alluvial production volumes in this
area to 500,000m3 per month is aimed at improving the quarterly
earnings visibility of the Company through the more regular
production of large stones such as these. Importantly, these
+100 carat stones were recovered from two new mining areas,
namely the Saxendrift Extension (acquired with the purchase of
the Jasper project in March 2012) and the Saxendrift Hill
Extension, and show tangible progress with our strategy.”
For further information on Rockwell and its operations in
South Africa, please contact
James Campbell
CEO
+27 (0)83 457 3724
Stéphanie 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 production 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 home jurisdiction filings that are available at
www.sedar.com.
Information Concerning Estimates of Measured, Indicated and
Inferred Resources
This news release uses the terms “measured resources”,
"indicated resources" and "inferred resources". Northern
Dynasty Minerals Ltd. advises investors that although these
terms are recognized and required by Canadian regulations
(under National Instrument 43-101 Standards of Disclosure for
Mineral Projects), the U.S. Securities and Exchange Commission
does not recognize them. Investors are cautioned not to assume
that any part or all of the mineral deposits in these
categories will ever be converted into reserves. In addition,
"inferred resources" have a great amount of uncertainty as to
their existence, and economic and legal feasibility. It cannot
be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under
Canadian rules, estimates of Inferred Mineral Resources may
not form the basis of feasibility or pre-feasibility studies,
or economic studies except for Preliminary Assessment as
defined under 43-101. Investors are cautioned not to assume
that part or all of an inferred resource exists, or is
economically or legally mineable.
17 September 2013
Johannesburg
Sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
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