16 Sep 2014 16:12
16 September 2014
Golden Saint Resources Ltd
("Golden Saint" or the "Company")
Memorandum of Understanding with Parikh Brothers
The Company is pleased to announce that on 15 September 2014 it entered into a memorandum of understanding ("MOU") with Parikh Brothers ("PB") in Mumbai to process, cut and polish the Company's rough diamonds.
PB has state of the art machinery with the latest technology in diamond cutting and polishing and has the expertise to cut and polish diamonds of all shapes and sizes in the ideal cut grade standards of the Gemological Institute of America (GIA).
The MOU includes assistance for the resale of the rough and polished diamonds where necessary. Processing of each shipment must be completed within 90 days unless otherwise agreed. Golden Saint is currently awaiting the issuance of the Kimberley Certificate from the Australian authorities which it hopes will be available next week, after which the Company will send the balance of the rough to PB for processing, cutting and polishing.
For further information please contact:
Golden Saint Resources Ltd
| Cyril D'Silva, Executive Chairman | +618 64677778 |
Optiva Securities
| Jeremy King | +44 (0)20 3137 1904 |
Newgate Threadneedle
| Josh Royston/Robyn McConnachie | +44 (0)20 7653 9850 |