LONDON (Alliance News) - Golden Saint Resources Ltd Tuesday said that its first shipment of roughly 400 carats of uncut, gem quality diamonds has been exported from Sierra Leone and will shortly arrive at Solid Gold Jewellers Pty Ltd In Australia for polishing.
The West African diamond and gold exploration company said the uncut diamonds within the shipment vary in size from 1 carat up to 13.9 carats and comprise white, brown and yellow diamonds.
Golden Saint said the diamonds will be sorted in Perth and then sent to be cut, polished and GIA-certified at a production plant, which should take no longer than 90 days from the time Solid Gold receives the shipment, estimated to be within the next one to two weeks.
The company said the diamonds will then be offered for sale to shareholders that own at least 10,000 shares in Golden Saint, prior to being sold more widely. This sale will represent the first revenue stream for the company.
Golden Saint Resources shares were down 1.7% to 11.55 pence Tuesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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