West African Diamonds Sells First Parcel

The Irish owned West Africa Diamonds (WAD), an AIM listed company sold its first parcel of diamonds from its Bomboko mine in Guinea. The mine is 100% owned by WAD.

The diamond parcel which was sold in Antwerp weighed 433 carats and fetched $50,270. A large stone in the parcel which weighed 16.27 carats was sold for US$1000 per carat.

James Campbell, the deputy chairman of WAD said “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.”

Plans are also underway to increase production in the mine up to 35,000 t/m of gravel, up from the current 3,500 t/m of gravel. The production at Bomboko mine started started in April this year.

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