Kimberley Diamonds to add to its Australian asset portfolio
Kimberley Diamonds (ASX:KDL) is set to grow its Australian asset portfolio and has gone into a trading halt pending an announcement.
The halt is likely to be in place the earlier of an announcement or start of trading on 18 February.
The
company had a cash balance in excess of $17 million at the end of the
last quarter ended 31 December 2013, selling 22,852 carats for a total
sales value of US$16.2 million in during Q2 fiscal 2013-2014.
Kimberley Diamonds owns the Ellendale Diamond project in the West Kimberly region of Western Australia.
The Ellendale Mine produces predominantly gem and near-gem quality diamonds and is the world’s
leading source of rare fancy yellow diamonds, contributing an estimated 50% of the global supply.
It
also has interests in other tenements in New South Wales and the
Northern Territory that are prospective for gold and copper-gold.
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