Excellent Price for Cassanguidi Diamonds

 

TIDMPDF 
 
RNS Number : 2328C 
Pangea DiamondFields PLC 
10 November 2009 
 

 
 
 
 
 
 
 
 
Pangea DiamondFields plc 
('Pangea' or the 'Company') 
 
 
Excellent Price for Cassanguidi Diamonds 
 
 
Pangea DiamondFields plc (AIM: PDF), the diamond producer and exploration 
company, announces the results from the most recent sale of diamonds from its 
Cassanguidi Project ('Cassanguidi' or 'the Project'), which is situated 80 km 
East of Dundo, in the Lunda Norte Province, Angola. 
 
 
The sale of 1,964 carats, which took place last week in Luanda and was 
facilitated by state-run diamond trading company SODIAM, yielded an average 
price of US$147.50 per carat. This represents approximately 82% of the Company's 
target price of $180.00 per carat, a target which was set prior to the fall in 
the price of diamonds, and is well in excess of the currently budgeted level of 
70% of the target price. 
 
 
Commenting on the tender outcome, Chief Executive Boris Kamstra said, "The price 
obtained for this parcel represents a significant improvement in rough diamond 
prices in Angola, adding credence to our expansion of this project. Our team on 
the ground is making good progress toward bringing this project to full 
production despite seasonally adverse weather and the usual logistical 
challenges. At present, the project is still on track to be at full capacity by 
the year end." 
 
 
Further information: 
 
 
+---------------------------+--------------------------+---------------------------+ 
| Pangea DiamondFields plc  | Ambrian Partners Limited | Walbrook PR Ltd           | 
|                           |                          |                           | 
+---------------------------+--------------------------+---------------------------+ 
| Boris Kamstra             | Richard Brown / Richard  | Louise Goodeve / Leah     | 
|                           | Greenfield               | Kramer                    | 
+---------------------------+--------------------------+---------------------------+ 
| T: [phone]        | T: [phone]  | T: [phone]   | 
|                           |                          |                           | 
+---------------------------+--------------------------+---------------------------+ 
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: 
http://www.pangeadiamondfields.com/ 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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