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Kimberley announces first sale

KIMBERLEY Diamond Company has announced that it has concluded the first sale of 3,371 carats of diamonds recovered from mining its Ellendale Pipe 4 project. The WA-based company said the sale realised a run of mine average price of $US121 per carat, compared with US$87 per carat used in the independent feasibility study completed in November last year, Kimberley told the ASX. The sale was made to David Lapa, from Overseas Diamonds, based in Antwerp, Belgium. Mining at Ellendale 4 commenced in mid-April 2004 with all material being processed through the company’s processing plant. Kimberley said it is on track to achieve its forecast production of 120,000 carats for the year ending June 30 2005.

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