Namakwa Diamonds “well positioned” to meet medium term goals
12 January 2010
Nico Kruger, the chief executive of African diamond group Namakwa Diamonds, today said the group was well positioned to both capitalise on the right short-term opportunities and meet its medium-term goals.
Mr Kruger was referring to two recent deals where the company paid US$5 million for Kasai Resource Mining Ltd, a Democratic Republic of Congo-based mining operator, and later acquired a 12.4 million carat kimberlite project in Lesotho..
“Intelligence from our Beneficiation Division has given us the necessary confidence to execute our consolidation strategy, allowing us to acquire assets with significant potential at favourable valuations,” Mr Kruger said. “By leveraging our unique, vertically integrated structure we are confident of delivering value to our shareholders and that the company is well positioned to both capitalise on the right short-term opportunities and meet our medium-term goals.”
Mr Kruger’s comments formed part of a trading statement covering the period September 1, 2009 to date. In it, Namakwa said its was seeing a sustained positive trend in the North West Province and DRC and improved market conditions for its Beneficiation Division. Elsewhere, first quarter production of 24,413 carats was up more than 50% on the same period last year.
Namakwa finished the first quarter with net working capital of US$42.4 million, cash and receivables of US$20.2 million and inventory of US$23.9 million.
|
Relevant Companies
For more company information click below:
Headlines
31 August 2010
30 August 2010
27 August 2010
20 August 2010
18 August 2010
13 August 2010
09 August 2010
06 August 2010
30 July 2010
29 July 2010
28 July 2010
27 July 2010
26 July 2010
23 July 2010
23 July 2010
22 July 2010
21 July 2010
19 July 2010
16 July 2010
12 July 2010
09 July 2010
08 July 2010
07 July 2010
06 July 2010
05 July 2010
02 July 2010
06 May 2010
13 April 2010
24 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
19 March 2010
19 March 2010
» See all News
Features
31 August 2010
28 July 2010
23 July 2010
13 April 2010
24 March 2010
22 March 2010
19 March 2010
19 March 2010
18 March 2010
16 March 2010
15 March 2010
12 March 2010
11 March 2010
08 March 2010
05 March 2010
05 March 2010
» See all Features
Round-Ups
27 August 2010
20 August 2010
13 August 2010
06 August 2010
30 July 2010
23 July 2010
16 July 2010
09 July 2010
02 July 2010
19 March 2010
19 March 2010
12 March 2010
12 March 2010
05 March 2010
05 March 2010
28 February 2010
Popular
31 August 2010
28 July 2010
27 August 2010
30 August 2010
18 August 2010
30 July 2010
04 December 2009
26 July 2010
20 August 2010
29 July 2010
23 March 2010
06 August 2010
19 March 2010
08 July 2010
27 July 2010
01 February 2010
|