Asian Equities News 2015-09-14: Lucapa Diamond Co. Completes A$1m Angolan Diamond Sale
14.09.2015 | ABN Newswire
Sydney, Australia (ABN Newswire) - Ram Resources (ASX:RMR) advises that it has entered into option agreement to acquire an 80 per cent interest in the West Kimberley Nickel Project. The Project is located 95km north-east of Derby and covers the north-west extension of the Ruin Dolerite, which hosts Buxton Resources' recent Double Magic nickel sulphide discovery, with intersections of 8m at 3.05% Ni and 1.87% copper from a recent drilling program.Lucapa Diamond Company (ASX:LOM) announced the completion of the sale of a fifth parcel of diamonds from the Lulo Diamond Project in Angola. The parcel of 2,559 carats of Lulo alluvial diamonds generated gross revenues of A$1.02 million, representing an average sale price of approximately A$400 per carat. As with previous sales, the Lulo project partners will use the proceeds from the alluvial diamond sale to fund ongoing operations at Lulo.
Perth-based graphite developer, Kibaran Resources Ltd. (ASX:KNL) announced that the completion of the Company's updated production growth strategy for its flagship projects in Tanzania in East Africa has resulted in a significant increase in potential graphite concentrate tonnages per annum. The new work has confirmed that Kibaran's graphite projects have the potential to produce a combined 150,000tpa of concentrate by the 6th year of mining and processing operations - a 50% increase over initial estimates this year.
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