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Payday for Newfield with inaugural diamond sale Bulls N' Bears 25 May 2022

Payday for Newfield with inaugural diamond sale

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Diamond junior Newfield Resources has sold its first lot of diamonds produced from its mine in Sierra Leone for US$1.44 million at an average price of US$269 per carat. A total of 5330 carats were sold by tender, with single stones up to 9 carats in size. The sale was conducted by Bonas Group, the world's largest global independent diamond and gemstone auction house.

African diamond production in sight for Newfield Bulls N' Bears 01 Mar 2022

African diamond production in sight for Newfield

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Newfield Resources has boasted higher than expected recoveries as it surges ever closer towards production at its Tongo diamond mine development in Sierra Leone. The ongoing works will enable access to the ore body and the establishment of the first mining stopes, signalling the transition from explorer and developer to producer. Initial production is slated to commence in June 2022.

Newfield beefs up senior management as production looms Bulls N' Bears 22 Feb 2022

Newfield beefs up senior management as production looms

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Newfield Resources has appointed Charl Barnard as General Manager of its Tongo diamond mine in Sierra Leone. The new GM will hold the tiller as Newfield heads for diamond production. The Tongo diamond mine comprises two adjacent mining licenses covering a combined 134 square kilometres in eastern Sierra Leone. It has an indicated and inferred diamond resource estimate of 8.3 million carats.

Newfield substantially strengthens balance sheet Bulls N' Bears 24 Dec 2021

Newfield substantially strengthens balance sheet

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Newfield Resources has retired approximately $40 million worth of corporate bond debt and roughly $2.1m of associated accrued interest for its Tongo diamond mine in Eastern Sierra Leone. Additionally, the company raised $12.5 million through a capital raise with the combined exercise significantly strengthening its balance sheet and reducing long-term bond debt to zero.

Newfield recovers 5 carat diamond from Sierra Leone Bulls N' Bears 07 Dec 2021

Newfield recovers 5 carat diamond from Sierra Leone

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Newfield Resources continues to hit paydirt at its Tongo diamond concessions in eastern Sierra Leone. The Perth-based budding diamond producer has unearthed more “gem-quality” diamonds in the Peyima kimberlite located only 5km southeast of the current mine development on the Kundu and Lando kimberlites where production is slated to commence in the early months of 2022.

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