TORONTO (miningweekly.com) – Diamond-miner Rockwell Diamonds has received a second opinion that supports its argument that an unsolicited takeover offer from Pala Investments undervalues the company.

Sasfin Capital, a division of Sasfin Bank, has provided an independent opinion that Rockwell's shares are worth at least $0,44 each (or about C$0,525 at October 30 exchange rates).

Pala is offering $0,36 a share, and Rockwell has already received an opinion from RBC Capital Markets that the offer is too low.

Vancouver-based Rockwell mines diamonds from alluvial operations in South Africa.

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