With one 77.34 carat diamond selling for US$904,724 and another 13.65 ct stone for $518,180, BRC Diamond Core's limited scale trial mining seems to be more than paying for itself at its Silverstreams alluvial property in South Africa. Meanwhile trial mining at its Paardeberg East kimberlite property is showing strong values for a kimberlite deposit with stones sold at an average value of $390.90 a carat.
At Silverstreams it is the big high quality stones which are the icing on the cake with the sample package sold comprising 102 stones with a total value of $1,866,716 - or $6,065.89/ct. At an earlier presentation the company said that independent consultants had predicted finding a stone of 40 ct or more and this has now been borne out.
Commenting on the prices received on the third tender, Company CEO Theo Botoulas said: The average prices achieved per carat for the entire run of mine production for both Paardeberg East and Silverstreams of US$390.90 per carat and US$6,065.89 per carat respectively are most encouraging.
As a result of increased geological and grade confidence delivered by the systematic sampling program at Silverstreams, as well as access to adequate Eskom power, we will implement the first phase of doubling capacity. The capacity of the rotary pan plant section will be increased by 50% with the addition of two 16 ft rotary pans. Production is expected to increase proportionally as the Silverstreams project gears up.
The company is also particularly pleased with progress at its PK5 pipe at its Paardeberg East kimberlite project. It reckons that the quality of diamonds produced from the PK5 samples has been exceptional, as indicated by the high average value achieved of US$390.90 per carat. Besides the 18.36 carat stone, three other high value stones greater than 5 carats were sold at the tender. While considerably lower per carat prices were received for these stones in relation to the Silverstreams package, the values were actually high for a kimberlite pipe which makes up in frequency of stones recovered compared with the higher per stone values achieved in many alluvial deposits.
Ongoing diamond analysis of the various PK5 samples continued to be undertaken by independent consultants. The PK5 size frequency distribution for the samples in this tender plotted is similar to the last samples, indicating the continuous nature of the orebody. However, the average stone size has increased slightly to 0.37 carats per stone from 0.35 carats per stone for previous samples. The forecasting plots indicate that PK5 has the potential of recovering special stones (+10.8 cts). This has been reinforced by the recovery of an 18.36 carat stone. The stone sold for US$7,307 per carat.