"Sydney - Thursday - Feb 10: (RWE Australian Business News) - Reefton Mining NL has reported the valuation of its high quality diamonds recovered from onshore tenements at the Skeleton Coast Project in Namibia. All of the diamonds recovered up to the end of October weighing 460 carats for 2,421 diamonds were valued by the well-known and internationally respected diamond industry valuer, Mr Peter Talbot-Ponsonby at US$219 per carat. The valuation exceeded the expectation of the Board by 10% where previously the Company had assumed US$200 per carat in its scoping studies. This valuation has a significant effect on the potential worth and subsequent economics of a diamond mining operation on the Skeleton Coast. Mr Talbot-Ponsonby commented that "Reefton's diamonds are of good quality and superior to other Namibian productions, and therefore command an above average price." He also commented that the colour owas definitely superior and said that "these diamonds would attract a premium to the valuation if sold under tender in Europe"."
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