DMS Plant under construction
Perth, Mar 18, 2009 AEST (ABN Newswire) - CityView Corporation Limited (ASX:CVI)(PINK:CTVWF) announced today that Canzar Resources Limited ("Canzar"), the Operator of the Nhefo and Luachisse diamond concessions in Angola, has engaged International Progress & Design ("IPAD") of South Africa to supply Dense Medium Separator (DMS) mobile plants for installation at Nhefo. The combined plants should be capable of processing 400 tonnes of feed per hour.
CityView CEO Mark Smyth commented: "We are very pleased to move forward with the construction of state-of-the-art diamond processing plants at Nhefo. Head feed into a DMS plant is first processed through a scrubber unit and then screened before entering the Cyclone unit. Head feed into a scrubber unit usually averages two to three times the capacity of a Cyclone Unit.
Head feed at Nhefo should grade on average 0.15 carats per tonne, at a selling price of approximately US$170 per carat in current market conditions. Based on such a rate (400 x 0.15 x US$170), once the two plants are fully operational, we would expect Nhefo to generate US$10,000 per hour from production of diamond rough stones.
Following the successful installation of processing plants at Nhefo, similar DMS plants will be commissioned for Luachisse. The objective is to process up to 800 tonnes per hour of head feed from the combined Nhefo and Luachisse concession areas. We anticipate all plants to be online by the end of 2010," added Smyth.
The Nhefo concession area of 3,280 km2 covers most of the alluvial diamond areas of the Rio Luachimo in the province of Luanda Norte. The Luachisse concession area of 2,700 km2 encompasses much of the key diamond areas of the province of Bie.
Canzar's percentage ownership of Nhefo is 42% and Luachisse 41%. Canzar is a wholly owned subsidiary of Angola Diamond Holdings limited in which CityView holds an 18.5% interest. CityView's strategy is to increase its equity to a control position as soon as feasible.
Contact
CityView CEO, Mark Smyth
Telephone: +61-8-9226-4788
Facsimile: +61-8-9226-4799
Web: www.cityviewcorp.com
| ||
|
