Sale of Diamonds
February 16 2010 - 2:00AM
UK Regulatory
TIDMPDF
RNS Number : 1827H
Pangea DiamondFields PLC
16 February 2010
Pangea DiamondFields plc
('Pangea' or the 'Company')
Sale of Diamonds - Continued Positive Price Trend
Pangea DiamondFields plc (AIM: PDF), the diamond producer and exploration
company, announces that recent prices realised for sale of its diamond
production in Angola have continued to exhibit an upward trend.
The sale of 2,813 carats, which took place last week in Luanda, yielded an
average price of US$160.00 per carat before sales taxes. This represents
approximately 89% of the Company's long term target price of US$180.00 per
carat, a target which was set prior to the fall in the price of diamonds in
2009, and is well in excess of the currently budgeted level of US$140 per carat.
Further information:
+----------------------+------------------------+-----------------------+
| Pangea DiamondFields | Ambrian Partners | Walbrook PR Ltd |
| plc | Limited | |
| | | |
+----------------------+------------------------+-----------------------+
| Boris Kamstra | Richard Brown / | Louise Goodeve / Leah |
| | Richard Greenfield | Kramer |
+----------------------+------------------------+-----------------------+
| T: +27 11 438 4100 | T: +44 (0) 20 7634 | T: +44 (0) 20 7933 |
| | 4700 | 8780 |
| | | |
+----------------------+------------------------+-----------------------+
Notes to Editors:
About Pangea Diamondfields PLC
Pangea DiamondFields plc (AIM: PDF) is an emerging diamond producer and
exploration company with a portfolio of eight 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
END
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