Diamond producer Trivalence Mining (TMI-V) recently completed its third gem sale of 1997, in Conakry, Guinea.
A parcel containing 3,034 carats of rough diamonds was sold for US$1.7 million at the average price of US$542.28 per carat. The parcel represents 82% of production from testing operations conducted at the Aredor property in Guinea between April 29 and June 9, 1997.
The total value of the three sales is US$3.3 million.
Also, Trivalence reports that its tailings pan plant has arrived at the Aredor mine site and is in the process of being erected.
Meanwhile, the company’s 14-ft. commercial pan plant has arrived in Conakry and will be transported to the mine site. The plant has a capacity of 100 tonnes per hour (three times that of the test plant) and, once in use, should boost production by 300-400%, Trivalence states in a release.
The company has identified reserves of 1.3 million carats at Aredor, which produced 1.25 million carats between 1984 and 1993.
The company has begun an exploration program to identify the kimberlite source of the alluvial diamonds at Aredor. Thus far, 11 kimberlite pipes and numerous kimberlite dykes have been confirmed by company geologists.
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