PRLog (Press Release) –
Mar 12, 2008 – Vaaldiam has completed the acquisition of Great Western Diamonds following approval by the Court of Queens Bench for Saskatchewan on March 6.
Great Western Diamonds Corp is a Saskatchewan-
based corporation engaged in the acquisition, exploration and development of diamond properties. The company's core project is the Candle Lake diamond property which hosts two diamond-bearing kimberlites, Pipe C28 and Pipe C29/30. Located at the northern end of the Fort a la Corne kimberlite trend, these kimberlites contain diamonds similar in quantity and quality to those recovered at more advanced projects in the Fort a la Corne area.
Last year, Vaaldiam acquired operatorship and 100% ownership of the Southern Block of the Pimenta Bueno diamond project in Brazil from Rio Tinto.
Vaaldiam achieved record prices for diamonds produced by its Chapada diamond mine in Mato Gross, Brazil in 2007. The first sale of diamonds from the company’s Duas Barras mine in Brazil took place at the beginning of the year, bringing in $1.05 million.
