JOHANNESBURG (miningweekly.com) – Aim-listed Pangea Diamondfields has successfully sold diamonds from its Bakerville project, in South Africa, by way of tender.

The sale yielded an average price of $236/ct from a run-of-mine parcel of 1 016 ct. To date, some 1 233 ct in total, have been sold by tender from the Bakerville project at a weighted average price of $449/ct.

“I am very pleased with the result of the sale particularly in light of what has been a challenging time for diamond prices,” said Pangea Diamondfields CEO Brett Thompson.

“The average price for the Bakerville diamonds was the last piece of analysis required to confirm the viability of the project and this result underscores our confidence in further developing Bakerville to become, funding permitting, the company’s next commercial scale operation.”

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