Mar 9 2004
China Diamond Corp. has announced the results of the sale of a sample parcel of diamonds recovered from the 701 Changma mine in Shandong province, China between November 26, 2003 and December 22, 2003.
Fifty-one percent of the stones recovered from China Diamond Corp.'s 701 Changma mine were gem quality stones. The largest diamond recovered was a VVS quality stone weighing 33.3 carats.
China Diamond Corp. sold 4,277.01 carats for $376,238. The average price per carat recovered was $87.97.
The sale of the parcel was governed by a forward sales agreement negotiated by previous management. The term of the sales agreement has concluded and management expects to sell diamonds from future production at prevailing market rates.
China Diamond Corp is China's largest diamond producer. The Company is a junior resource company engaged in mining for diamonds and the exploration and advancement of diamond and gold prospects. China Diamond Corp. controls four mining properties in the People's Republic of China.
For more information on diamonds