Mining Division
The Company currently has a portfolio of production, near-production and exploration projects in Lesotho, South Africa, the DRC and Namibia.
With the recent acquisition of the Kao kimberlite mine in Lesotho and additional alluvial and kimberlite concessions in the DRC, Namakwa Diamonds is well positioned to take full advantage of the global shortfall in the supply of diamonds.
As at 28 February 2010, Venmyn Rand (Pty) Ltd (Venmyn), the Company’s independent competent person for the purpose of evaluating the Mining Division’s asset base, considered the fair value of such mineral assets to be c. US$147m with approximately 25.8 million carats of Indicated and Inferred Resources, measured in accordance with the SAMREC Code.
