Lesotho focused diamond producer Kopane Diamonds (AIM: KDD), formerly named European Diamonds, posted interim results which showed a substantial improvement in diamond production from its satellite mine at Liqhobong.
Diamond sales for the six months to 31 December 2007 more than doubled to 77,575 carats for sales proceeds of £1.9 million. The company also confirmed that plant optimisation was continuing to improve production levels.
Meanwhile on the neighbouring main pipe, Kopane said that a Bauer wide diameter drilling program was underway as part of a definitive feasibility study that is underway and due for completion by the end of 2008.
Tim Read, Executive Chairman, of Kopane said:
"The first half of this financial year has been one of considerable change for Kopane with the start of the DFS. We are now fully focussed on realising Liqhobong's full potential. Excellent work in exploration evaluation and development combined with production, including high value fine white and fancy yellow diamonds, reaffirms our belief that Liqhobong has considerable potential and deserves management's undivided attention. The creation of the Finnish joint venture managed by Mantle Diamonds will allow this. We are now well advanced in delineating Liqhobong's project fundamentals and I look forward to announcing an updated resource statement and results from the DFS later in 2008."