Global Diamond (GDRS) Message Board

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Gold/Mining/Energy : Global Diamond (GDRS)

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To: the baron who wrote (74)	11/5/1998 1:46:00 PM
From: Eugene Brill	Read Replies (1) of 88

To all; Our diamond recovery plant at our Caerwinning project that was commissioned in September is operating according to schedule. We are training personnel that will allow for the operation of this plant on a double shift basis by January 1999. The first parcel of diamonds produced at Caerwinning that included a 15-carat, gemstone diamond was sold in November at a price in excess of our budget. This is a clear confirmation that the large gemstone diamond sector remains extremely strong, notwithstanding an estimated surplus of small diamonds and the financial turmoil in the Far East. At our Grasdrif property we have been unable to commission the diamond recovery plant as a result of a fundamental design flaw. This is the responsibility of the outside contractor. We anticipate being able to commission this plant by the beginning of December. The analysis of our broad diameter-drilling program at Montrose is going according to schedule and the planning for the next stage of the exploration program should commence towards the end of 1998.

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