The special tender of Karowe diamonds was completed on November 25, 2013 and consisted of 14 single stone lots. All 14 stones, totaling 1,028 carats were sold for gross revenues of $22.9 million ($20,280 per carat). The highest value stones sold were a 256.6 carat and a 137.9 carat diamond which sold for $4.40 million and $4.28 million respectively. An additional 7 diamonds sold for more than $1.0 million each.
The Company will hold one more regular tender during the fourth quarter, bringing the total volume of diamonds sold in 2013 to over 420,000 carats as forecast.
The Company also announces the continued recovery of beautiful, exceptionally large stones from the Karowe Mine, including a 167 carat diamond and a 122 carat diamond. These rare stones will be sold on tender in 2014.
William Lamb, President and CEO, commented, "The Company has received tremendous demand for its beautiful Karowe diamonds. This success truly demonstrates how robust the market continues to be for large, high quality diamonds. Globally, diamonds above 100 carats are exceedingly rare, yet since March alone, Karowe has produced 16 diamonds greater than 100 carats each."
