RE: Tantalum Price Strong11 Nov 2020 08:52
Highlights:
· Initial operations have been focussed on areas identified by management as likely to be high in diamond content;
· Since beginning operations approximately 33,000 tons of overburden at Cliffs East Mining Site have been removed from the inland diamond deposits at Blocks CL284, CL286 and CL288, exposing around 3, 800 tons of diamond bearing gravel;
· The gravel has been removed and is currently undergoing in field screening to ensure that only gravel containing diamonds is transported for final diamond recovery;
· Initial evaluations are that diamond content will comfortably exceed the average predicted grade of 6 carats per 100 cubic metres;
· The first auction in which the Company is expected to participate will be at the beginning of the fourth quarter with anecdotal evidence indicating that diamond prices are holding up well despite the Covid 19 epidemic.