Pangea Tender Averages $236 P/C

Last week’s tender of rough diamonds from Pangea DiamondFields’ Bakerville Project in South Africa yielded an average price of $236 per carat from a run of mine parcel of 1,016 carats.

The sale, which took place in Johannesburg, is Pangea’s second tender of diamonds from Bakerville. To date, some 1,233 carats of diamonds from the Bakerville project have been tendered at an average price of $449 per carat.

According to Chief Executive Brett Thompson, “The average price for the Bakerville diamonds was the last piece of analysis required to confirm the viability of the project and this result underscores our confidence in further developing Bakerville to become, funding permitting, the company’s next commercial scale operation.”