In Namibia, a 65 day mining campaign undertaken by a contractor in late 2018 and early 2019 produced two parcels of rough diamonds totalling 47,318.41 carats. The parcels were auctioned in Antwerp, generating $1.1m in net proceeds attributable to the Company.
Further exploration and development work on ML111 to improve mining performance is being considered.
DFR’s fully owned subsidiary, Diamond Fields (Namibia) (Pty) Ltd. (DFN), has a ten-year mining licence, effective from 5 December 2015 until 4 December 2025, for the ML 111 concession which lies within Luderitz Bay between Diaz Point in the south and Marshall Forks in the north and at depths of 15 to 70 metres. DFN also owns a ten-year mining licence, valid until November 2029, for ML 139 concession which lies further north of ML111. Namibian Diamond Company (Pty) Ltd., a 70% owned subsidiary of DFR, owns a mining licence expiring December 2023 for the near shore ML 32 concession which lies adjacent, to the east, of both ML 111 and ML 139.