Trivalence nets cash from sale

A recent sale of diamonds from Trivalence Mining‘s (TMI-V) 85%-owned, 1,012 sq.-km Aredor diamond mine in Guinea has netted the company US$2.5 million.

In total, 5,481.7 carats of rough diamonds were sold, including four parcels totalling 3,241.3 carats of gem-quality diamonds that sold for US$2.4 million (US$735 per carat) and one parcel containing 2,240.4 carats of near-gem quality stones that sold for US$124,342 (US$55 per carat).

Between 1984 and 1994, Aredor produced more than 1.2 million carats from alluvial deposits worth US$377 million. Every year since 1986, one 100-carat-plus stone has been recovered from the mine, the most recent a gem-quality 146.8-carat stone that sold for US$2 million.

The Vancouver-based junior also holds a half-interest in the Palmietgat kimberlite project in South Africa, which is expected to enter production by year-end.