Monday, April 15, 2013

Rockwell Diamonds Divests Interest in Klipdam Mine for $2.5 Mln

Rockwell Diamonds Inc. (RDI.TO) has reached an agreement to sell the Klipdam Mine and associated properties for a total cash consideration R23 million (C$2.5 million). This brings the total proceeds from the sale of this asset to R48 million, including the sale of the earth moving equipment in October 2012.

The proceeds will be reinvested in bringing the Niewejaarskraal Mine into production and progressing its strategy of growing its operating footprint in the Middle Orange River region of South Africa.

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