May 31, 2007 Rockwell Achieves Excellent Prices At May Diamond Sale Tender:
Receives US$27,676 per carat for a 58 carat gem from new Makoenskloof project
May 31, 2007, Vancouver, B.C. -- Rockwell Diamonds Inc ("Rockwell" or the "Company") (TSXV: RDI; OTCBB: RDIAF) reports on its diamond tender sales completed on 10 May 2007.
The average price achieved by the Company for the sale was US$1,894 per carat. This includes an excellent price of US$27,676 per carat received for a 58 carat white stone from the Company's new Makoenskloof project. A summary of the sales and prices is provided in the table below:
Average Price (US$ per carat)
Wouterspan production included 5 stones between 10 to 20 carats, two stones between 20 and 30 carats, two stones between 30 and 40 carats, and a 45.94 carat stone. Holpan production included 4 stones in the 10 to 20 carat range, as well as a 69.06 carat stone, and Klipdam production included 6 stones in the range 10 to 20 carats.
The Makoenskloof parcel included a range of good quality stones including those between 5 and 10 carats, as well as the 58.33 carat d-colour stone. Makoenskloof is located on the north bank of the MOR, approximately 40 km upstream of Wouterspan. It comprises a large alluvial terrace remnant with Rooikoppie surface deposits underlain by calcrete and basal gravel deposits. Following encouraging trial mining results, Rockwell exercised its option to purchase the Makoenskloof project and at the same time acquired additional mining equipment and a processing plant from the contractor which undertook the work on behalf of Rockwell. Currently, the plant and infrastructure is being upgraded, and full production is scheduled to begin in about mid-June 2007.
President and COO John Bristow noted that "Management was pleased to see the high number of stones over 10 carats in size recovered from all of its operations in March and April that were included in the recent tender. Particularly encouraging is the quality of the parcel of diamonds from the Makoenskloof project, including a top quality 58 carat stone similar in quality to those recovered from Wouterspan."
For further details on Rockwell Diamonds Inc., please visit the Company's website at www.rockwelldiamonds.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
President and COO
You can view the Next News Releases item: Mon Jun 4, 2007, Rockwell Drilling Discovers Extension To Diamond Host Unit At Its Klipdam Alluvial Diamond Mine
You can view the Previous News Releases item: Tue May 29, 2007, Rockwell Diamonds Inc. Concludes Acquisition Of Makoenskloof Alluvial Diamond Project On North Bank Of The Middle Orange River
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