New African Mining AG
New African Mining’s production is outshining projections
New African Mining AG / Forecast Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Press release New African Mining’s production is outshining projections New African Mining (NAM) is pleased to announce that the first diamond sortings that have been done to date during December 2007 in the Simolotse Mine in Kimberley/South Africa are outshining projections. Zug/Switzerland, December 19, 2007: With the refurbished plant at the Simolotse mine being commissioned earlier in December there was expectant anticipation as to what the first diamond sortings would produce. The recovery and efficiency levels of the plant were tested by processing existing tailings against a background of known tailing recovery levels of only 3 to 4 cpht achieved by the previous owners and a budgeted projected recovery for the mine tailings of 5cpht. The budgeted projected recovery for the fissure was projected to yield a grade 28 cpht. A mix of tailings and fissure was expected to yield a grade of 16 cpht. The sorting information is as follows: Date Carats Grade Grade Remarks Total Achieved Projected (cpht) (cpht) December 3 8.29 5.5 5 1 stone > 1ct December 6 55.3 18 16 5 stones > 1ct December 11 48.95 14 16 2 stone > 3ct December 18 118.4 29.75 28 1 stone > 7ct 5 stones > 3ct 5 stones > 2ct 17 stones > 1ct These initial recoveries are exceeding projections and are also expected to increase further when an additional crusher is brought into the process as well as the benefits that will be reaped when the full refurbishment and reconfiguration of the plant is completed by the end of January 2008. Hoisting of ore from underground is continuing and a stockpile of approximately 1300 tons is available for processing. Underground development work to open new workplaces is progressing well and is on schedule. Chairman David Hargreaves said: 'We are convinced that our strategy will lead to rapid growth in the years ahead. NAM is well positioned to quickly build a strong portfolio of dumps and mines and thereby deliver substantial shareholder value.' About New African Mining New African Mining (NAM), Zug/Switzerland, is in the business of mining and selling rough diamonds. NAM is structured as a holding company that owns and acquires dumps and mines through its wholly-owned subsidiaries. Up to date industrial mining techniques are being used. For further information please contact: Mail: info@newafricanmining.com Tel +41 44 500 54 17 19.12.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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