record sales price and marine diamond producti

Bonaparte Diamond Mines NL (ASX Code: BON) (“Bonaparte”) is pleased to advise details of the most recent sale of diamonds from it’s marine mining operations off Namibia, which achieved an average price of US$258/carat. This is the highest dollar per carat price since commencement of Joint Operations (“JO”) mining with Diamond Fields International Ltd (“DFI”).
Bonaparte Managing Director Mike Woodborne commented “We are pleased with the latest record sales price which confirms the demand for this high quality gem production. Operation teams from Bonaparte and partner DFI are cooperating in an effort to further increase output and revenue.”
Sale of the latest parcel of 1,932 carats resulted in gross revenue of US$496,823. Total JO sales up to 7 April 2008 amounts to 26,432 carats for US$5,833,963 in total revenue at an average price of almost US$221/carat. All diamond sales were completed through DFI’s existing sales agreement with Diamond Tenders (Belgium) NV.
Total JO diamond production for the March 2008 quarter was 15,626 gem diamonds weighing 5,882 carats at an average size of 0.38 carats/stone. March quarterly production increased by 4% over the previous quarter.
Mining has been continuous since late January 2007 and total JO production for the fourteen month period now stands at 68,047 diamonds weighing 27,793 carats with average stone size of 0.41carats/stone.
Mining is conducted by DFI in the expanded JO area within their ML111 licence area using DFI’s dedicated mining ship, MV Discoverer. Bonaparte has a 35% share of operating costs and production revenue from mining of new resources in the expanded JO area.
Total JO diamond production for the March 2008 quarter was 15,626 gem diamonds weighing 5,882 carats at an average size of 0.38 carats/stone. March quarterly production increased by 4% over the previous quarter.
Mining has been continuous since late January 2007 and total JO production for the fourteen month period now stands at 68,047 diamonds weighing 27,793 carats with average stone size of 0.41carats/stone.
Mining is conducted by DFI in the expanded JO area within their ML111 licence area using DFI’s dedicated mining ship, MV Discoverer. Bonaparte has a 35% share of operating costs and production revenue from mining of new resources in the expanded JO area.