Kimberley Diamonds aims for 12,500 carats in December
Date
12/5/2016 2:54:46 AM
(MENAFN- ProactiveInvestors - Australia) During November, 46,085 tonnes of ore were fed through the processing plant yielding a total of 9,338 carats at a recovered grade of 20.26 cpht (carats per hundred tonnes).
The lower processed ore tonnes in November compared to that achieved in October was the result of significant maintenance being performed on the existing secondary scrubber early in the month.
Increased throughput over the remainder of the month partially offset this stoppage.
Last month, Kimberley applied to the ASX for removal from the official list.
The company believes that its shares are trading at a price which is materially lower than the underlying value of its assets, based on independent valuation.
Another reasons cited by Kimberley for the application is that further fundraising is more likely to be successful if the company is delisted.
Interestingly, Kimberley's shares were last trading 10% up intraday, at $0.011.
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