Pangea DiamondFields announced that recent prices realised for sale of its diamond production in Angola have continued to exhibit an upward trend. The sale of 2,813 carats, which took place last week in Luanda, yielded an average price of
US$160.00 per carat before sales taxes. This represents approximately 89% of the company’s long term target price of US$180.00 per carat, a target which was set prior to the fall in the price of diamonds in 2009, and is well in excess of the currently budgeted level of US$140 per carat.
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