Diamond Fields International Ltd. Announces Operations Update

Jul 17, 2003 | 2003, Corporate News

Gemfarm Investments (Pty) Limited has advised Diamond Fields that the M.V. Anya is nearing completion of the work associated with the re-registration of the vessel to a new flag state (Honduras to South Africa (SAMSA) and change of classification society (IRS to RINA).

Completion of the process has proved to be far more complex than Gemfarm originally anticipated, but Gemfarm reports that the additional time has allowed them to undertake major improvements, maintenance and refurbishment work including:

– Improvement and upgrade to processing plant and operating systems
– Service and overhaul of all mining and vessel related electrical, hydraulic and mechanical components
– Improved diamond security systems
– Improved safety and communication systems and equipment
– Replacement of outdated systems with new equipment

Outstanding items for completion of the flagging and class society changes are the final RINA follow up inspection, SAMSA final safety inspection and issue of final documentation and certification. Gemfarm advises that estimated departure from Cape Town for Luderitz is now late July.

Mr. Gregg Sedun, President and CEO of Diamond Fields commented: “The M.V. Anya delays have been extremely frustrating for all concerned but we are now looking forward to the imminent resumption of mining with anticipated improved gem diamond production from the vessel in our Luderitz Blue Bay project area”.

“Gregg J. Sedun”
Gregg J. Sedun
President and Chief Executive Officer
For further information contact: Earl Young (1-214-219-1439)
Website: www.diamondfields.com

Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Diamond Fields’ periodic filings with Canadian Securities Regulators. Such forwardlooking information represents management’s best judgment based on information currently available. No forwardlooking statement can be guaranteed and actual future results may vary materially. Diamond Fields does not assume the obligation to update any forward-looking statement.

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