Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Global Diamond (GDRS) -- Ignore unavailable to you. Want to Upgrade?

To: Eugene Brill who wrote (72)	9/10/1998 12:06:00 PM
From: Eugene Brill	Read Replies (1) \| Respond to of 88

COMMISIONING OF DIAMOND RECOVERY PLANT - CAERWINNING PROPERTY LA JOLLA, Calif. - Global Diamond Resources, Inc., ("Global") is pleased to announce that the commissioning of the 100 tonne per hour diamond recovery plant at Global's Caerwinning property has been completed. The plant is expected to operate on a daily single shift until the end of September, and thereafter on a daily double shift. The Caerwinning Deposit is an alluvial deposit downstream of the confluence of the Vaal and Harts Rivers in the Griqualand West area of the Northern Cape Province of the Republic of South Africa. The property is estimated to contain 38.3 million tonnes of in situ diamondiferous gravel. During the period 1989 to 1994, Mr. Pieter van Wyk recovered 3,685 carats of high quality large gemstones with an average value of $488 per carat. A recently completed bulk sample, conducted by Global yielded 111.05 carats of large high quality gemstone diamonds valued at $642 per carat. Global owns the mining lease to the property. Management estimates that the Caerwinning alluvial deposit should contain 445,000 carats of large high quality gemstone diamonds valued at $217 million. This press release contains forms of forward-looking statements that are based on the Company's beliefs as well as assumptions made by and on information currently available to the Company. Such statements are subject to certain risks, uncertainties and assumptions, which are identified and described in the Company's 1996 Annual Report on Form-10-KSB and subsequent Quarterly Reports on Form 10-QSB on file with the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results will vary materially from those anticipated, estimated, or projected and the variations may be material. For more information about Global visit our Website at globaldiamond.com or contact Eugene Brill at (800) 424-6533; (619) 459-0045 or info@globaldiamond.com.