December 03, 2007 Rockwell Obtains Record Price Of US$145,000 Per Carat For A 7.28 Carat Pink Diamond
December 3, 2007, Vancouver, B.C. -- Rockwell Diamonds Inc ("Rockwell" or the "Company") (TSXV: RDI; OTCBB: RDIAF: JSE:RDI) reports on the sale of a rare 7.28 carat pink diamond recovered from its Holpan operation north of Kimberley in the Northern Cape Province, South Africa.
At the Company's 10th tender sale concluded in Johannesburg on November 28, 2007, Rockwell achieved a record price of US$1.054 million or US$145,000 per carat for a 7.28 carat, flawless intense pink, rounded octahedral diamond produced at the Holpan operation. At Holpan, the Company is mining diamond bearing surface alluvial material referred to as Rooikoppie deposits, and scattered remnants of underlying palaeo-channel gravel deposits.
The US$145,000 per carat value achieved for this stone is exceptional. It represents a record price for diamonds sold by the Company since Rockwell acquired its 51% ownership in the H C Van Wyk Diamonds Limited alluvial diamond operations and projects in South Africa in early 2007.
Pink diamonds are exceptionally rare on a world wide basis, with the only source known to produce such stones with some regularity being the Argyle diamond mine in Western Australia. The Argyle mine, which is owned by Rio Tinto, is famous for its annual 'pink diamond tender'.
President and CEO Dr. John Bristow stated "The recovery of a pink diamond from our Holpan operation is particularly exciting. The achievement of a record price for this stone attests to the potential for exceptional rarity, quality and value of the diamonds that are recovered from our unique Northern Cape alluvial diamond deposits."
For further details on Rockwell Diamonds Inc., please visit the Company's website at ww.rockwelldiamonds.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.
John Bristow President and CEO
You can view the Next News Releases item: Wed Dec 5, 2007, Rockwell Attains Outstanding Prices for its November Diamond Tender
You can view the Previous News Releases item: Wed Nov 28, 2007, Rockwell To Complete $15 Million Financing With JSE Listing
You can return to the main News Releases page, or press the Back button on your browser.