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Gold/Mining/Energy : SOUTHERNERA (t.SUF)

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To: Confluence who wrote (2616)	3/25/1999 10:10:00 AM
From: PHILLIP FLOTOW	Read Replies (1) of 7235

Confluence, Here is apart of a story from Nando net. It should be noted that Namco does not market through the CSO. 16% increase in diamond prices March 24, 1999 By Tabby Moyo Windhoek - Namibian Minerals Corporation (Namco) has announced a 16 per cent increase in the price of diamonds per carat over the last quarter. Releasing results of Namco's recent diamond sales, Chairman and Chief Executive Officer Alastair Holberton said 51 325 carats had raked in US$7,8 million (about N$47 million) in revenue at an average price of US$153 per carat. The price for the previous quarter was US$132 per carat. Namco is the world's second largest marine diamond producer and holds concessions in Namibia and South Africa. Holberton said the higher price achieved during March reflected the inclusion of a quantity of larger sized stones of two carats and above and "a further appreciation in the price of diamonds across all sizes and categories." He added that production during the first quarter of 1999 continued to exceed expectations. (My emphasis added.) PHIL

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