DIAMOND BRIEFS — Hymex tallies Guinean output

Several large stones were part of the latest production haul at Hymex Diamond’s (HMD-V) alluvial operations in Guinea, West Africa.

For the month of March, the company recovered 5,511 stones weighing a total of 2,604.68 carats.

During this period, the company recovered 69 stones ranging from 2 to 2.99 carats, 28 stones ranging 3 to 3.99 carats, 20 stones ranging from 4 to 4.99 carats, 3 stones ranging from 5 to 5.99 carats, 2 stones ranging from 6 to 6.99 carats, 3 stones ranging from 7 to 7.99 carats, and 2 stones ranging from 8 to 8.99.

There were also six stones weighing 9.98, 16.86, 17.22, 20.79, 24.61 and 30.05 carats. None of the stones has been appraised thus far.

Through a private placement, the company’s indirect subsidiary, Hymex Diamond Finance, has raised US$15 million to finance the mining operations of the company’s 85%-owned Guinean subsidiary. A portion of the proceeds will be used to acquire a crushing unit in Guinea for processing of kimberlitic material from pipes and dykes and to complete the purchase of a second unit of excavating machines.