Pangea Diamond Share Discussion Threads

[clive205] 16/9/2009 09:28

Steady stream of buys this morning, zero sells which is encouraging. (On AIM only).

[waleriuszwatrobka] 16/9/2009 07:57

"Pangea DiamondFields upbeat on improved Bakerville resource"

[waleriuszwatrobka] 15/9/2009 13:48

...news digested, upwards & onwards ;-)

[george57] 15/9/2009 13:47

Makes no sense why this has retreated today,can't pretend I'm not gutted.It gave back enough yesterday,we get good news and we drop.Its not as if we have been putting in substantial gains of late is it?I bought at 1.8,1.9.and 2.09p and have held for a while,I was confident that when this update came we would be 3p.Puzzling to say the least.

[waleriuszwatrobka] 15/9/2009 13:34

...800k buy @ 2.25p over on LSE.

[brooksey] 15/9/2009 13:04

How long to get these licences that's what we need to know, anyone?

[waleriuszwatrobka] 15/9/2009 13:01

...so maybe it's time to leave FML, not ?!? ;-)

[induna123] 15/9/2009 12:28

No volume. Strange.

O/T FML is where the hot money's going.

[cwa1] 15/9/2009 11:02

Maybe this bit concerned some:-

Whilst we do not wish to slow the momentum at Bakerville, it is a statutory requirement that we await the relevant authorisation before scaling the project up to its full potential

?

[aja5] 15/9/2009 10:59

almost trebled the resource and nothing happens !!!

[mike_f] 15/9/2009 10:58

Seems to be getting a mixed reaction...

[cwa1] 15/9/2009 10:58

Had a wee nibble after seeing your post over on CR's thread TOPINFO. Looks to have some potential. Good luck with it all.

[pelleeds1980] 15/9/2009 10:56

Is it morning cawfee time for them?! No funds to add here unfortunately

[topinfo] 15/9/2009 10:55

MMs asleep.!!! Big buying, have they not seen the news yet.?

[waleriuszwatrobka] 15/9/2009 10:53

...and it didn't ;-)

[topinfo] 15/9/2009 10:52

DJ Pangea DiamondFields: Bakerville Diamond Sale At Avg $238/Ct

LONDON (Dow Jones)--Pangea DiamondFields PLC (PDF.LN), a diamond producer and exploration company, said Tuesday it has successfully tendered the third sale of diamonds from its Bakerville project in South Africa at an average price of $238 per carat from a run of mine parcel of 796 carats.

MAIN FACTS:

-To date, over 2,000 carats in total have been sold by tender from Bakerville at a weighted average price of $366 per carat.

-Cumulative carats recovered and sold now exceed the minimum parcel size required in order to determine an average valuation for resource purposes in the Indicated category.

-Project resource carats have increased by 370% to 455,000 carats at a similar recovered grade of 3.42 ct/100 m3.

-Furthermore, following the most recent sale, confidence in the quality of the resource has increased with the inclusion of 2.50 m3 and 85,600 carats of Indicated resources in the overall resource.

-By London Bureau, Dow Jones Newswires; Contact Ian Walker; [phone]; [e-mail]

(END) Dow Jones Newswires

September 15, 2009 05:50 ET (09:50 GMT)

[aja5] 15/9/2009 10:50

but probably wont

[aja5] 15/9/2009 10:50

looks great should rocket !!!!!

[topinfo] 15/9/2009 10:49

"Project resource
carats have increased dramatically by 370% to 455,000 carats at a similar
recovered grade of 3.42 ct/100m3. Furthermore, following the most recent sale,
confidence in the quality of the resource has increased with the inclusion of
2.50 million m3 and 85,600 carats of Indicated resources in the overall
resource".

[topinfo] 15/9/2009 10:47

NEWS OUT PDF DIAMONDS AGAIN

Bakerville Diamond Sale and Resource Update (Pangea Diamond)



TIDMPDF

RNS Number : 0687Z
Pangea DiamondFields PLC
15 September 2009

?




Pangea DiamondFields plc
('Pangea' or the 'Company')


Bakerville Diamond Sale and Resource Update


Pangea DiamondFields plc (AIM: PDF), the diamond producer and exploration
company, announces the third successful sale by tender of diamonds from its
Bakerville Project ('Bakerville' or 'the Project'), which is situated within the
Lichtenburg Diamond Fields approximately 250km west of Johannesburg, South
Africa.


The sale yielded an average price of US$238 per carat from a run of mine parcel
of 796 carats. To date, over 2,000 carats in total have been sold by tender from
Bakerville at a weighted average price of US$366 per carat. This sale is
significant as the cumulative carats recovered and sold now exceed the minimum
parcel size required in order to determine an average valuation for resource
purposes in the Indicated category.


In the Company's most recently published resource statement for Bakerville,
dated 31 December 2008 and released to the market on 28 January 2009, an
Inferred Resource of 3.59 million m3 and 122,500 carats was declared at an
average recovered grade of 3.42 ct/100m3. As a result of additional sampling
work since this resource estimate as well as the cumulative sale of the
requisite parcel of diamonds for valuation purposes, the resource statement has
now been updated and the results reflected in the table below. Project resource
carats have increased dramatically by 370% to 455,000 carats at a similar
recovered grade of 3.42 ct/100m3. Furthermore, following the most recent sale,
confidence in the quality of the resource has increased with the inclusion of
2.50 million m3 and 85,600 carats of Indicated resources in the overall
resource.


The new Bakerville resource estimated in compliance with the SAMREC Code, is as
follows:


+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| Project | Resource | Gravel | Grade | Carats | Diamond |Bottom | PDF's | PDF's |
| Area |Classi-fication | Volume |(ct/100m3) | | Value |Screen |Attributable |Attributable |
| | | | | | | Size | Interest | Carats |
| | | | | | | (mm) | | |
+ + +------------+ + +----------+ + + +
| | | (m3) | | |(US$/ct) | | | |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| | | | | | | | | |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| | Indicated | 2,502,400 | 3.42 | 85,582 | 366 | 1.6 | 74%1 | 63,331 |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| Patsema | | | | | | | | |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| | Inferred | 10,795,000 | 3.42 | 369,189 | 366 | 1.6 | 74%1 | 273,200 |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| | | | | | | | | |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| | Total | 13,297,400 | 3.42 | 454,771 | 366 | 1.6 | 74%1 | 336,531 |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| | | | | | | | | |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+
| 1 Assumes the exercise of the PanEx option under which the Company is entitled to |
| acquire an additional 26% interest in all of PDF's South African projects, prior to 30 |
| June 2010 at a cost of US$2.5 million. |
| |
+-----------+-----------------+------------+------------+---------+----------+--------+--------------+--------------+


Venmyn Rand (Pty) Ltd, the independent qualified person has reviewed and
verified the resource estimate and a copy of their report is available on the
PDF website;


A feasibility study of the Project has now been successfully completed in-house
with positive results. The Project scope at full production reflects a nominal
capacity of 90,000 cubic metres of in situ gravel mined and processed per month,
producing around 2,250 carats per month at a cost of approximately US$4.50 per
cubic metre or approximately US$180 per carat at the envisaged nominal capacity.


The Mining Right application to allow full scale exploitation of the deposit has
been completed and submitted to the relevant governmental authority in South
Africa.


At this time, it is not possible to determine when the Mining Right will be
approved and consequently, when commercial scale mining may commence, however
PDF will undertake all preparatory work to ensure that upon approval, the
transition to commercial scale operations is not unduly delayed.


In keeping with the Company's strategy of reducing unnecessary expenditure,
operations at Bakerville will be put on "care and maintenance" with immediate
effect until such time as the Mining Right application has been approved and the
Company is in a position to develop a commercial scale operation at Bakerville.
Exploration will however continue, targeted to delineate additional resource
potential outside the current resource area and all remaining carats will be
sold in due course. Management is confident that the resource will continue to
grow given that we have to date only explored approximately 25 - 30 % of the
area within PDF's permit areas identified as being gravel bearing.


Chief Executive Brett Thompson commented, "The results from the Bakerville
project continue to encourage management and this latest update to the resource
sees the economics of the Project improve further. Whilst we do not wish to slow
the momentum at Bakerville, it is a statutory requirement that we await the
relevant authorisation before scaling the project up to its full potential. We
remain in a strong position with the Bakerville project ready for development,
an improved resource and the relatively low inherent operating risk present in
South Africa."


Further information:


+---------------------------+--------------------------+---------------------------+
| Pangea DiamondFields plc | Ambrian Partners Limited | Walbrook PR Ltd |
| | | |
+---------------------------+--------------------------+---------------------------+
| Brett Thompson | Richard Brown | Louise Goodeve / Leah |
| | | Kramer |
+---------------------------+--------------------------+---------------------------+
| T: [phone] | T: [phone] | T: [phone] |
| | | |
+---------------------------+--------------------------+---------------------------+


Note: The information in this statement has been reviewed by Mr. Brett Thompson,
B Eng (Mining), Grad Dip Applied Finance & Investment, FSAIMM, MAusIMM and Mr.
Anton Esterhuizen B Sc (Geology), MSc (Mineral Exploration), FGSSA, MSME who are
qualified persons for the purposes of the AIM Note for Mining, Oil and Gas
Companies. Mr. Thompson is Chief Executive Officer of Pangea DiamondFields plc
and has over 24 years experience in mining operations with some 12 years
specifically in diamond mining and exploration. Mr. Anton Esterhuizen is Chief
Exploration Officer of Pangea DiamondFields plc and has over 30 years experience
in exploration activities throughout the world and has been the recipient of
numerous awards for his exploration successes.


Notes to Editors:


About Pangea Diamondfields PLC


Pangea DiamondFields plc (AIM: PDF) is an emerging diamond producer and
exploration company with a portfolio of seven projects each with multiple
resource targets, located in the Central African Republic, Democratic Republic
of the Congo, South Africa and Angola. The Company aims to minimise risk by
diversifying its projects geographically.


PDF listed on AIM in October 2006 and is led by a strong management team, with a
track record for creating shareholder value in mineral exploration.

For more information on PDF, please visit:




This information is provided by RNS

[mike_f] 14/9/2009 11:54

Only a very small amount in these but looking at topping up as soon as i can get some funds together. Hopefully i won't miss a good move up. GL

[pelleeds1980] 14/9/2009 11:48

Already in these Mike good to see you on board too, Diamond miners definitely getting some attention recently

[mike_f] 14/9/2009 11:48

Is very quiet. Been bobbling round the same mark for quite a while, maybe now it has moved into a different range it will have flagged up on a few PI's radars and will start to get some more attention. GLA