<strong>Gem 1Q Sales Rise on Strong Prices </strong>

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[caption id="attachment_370" align="alignleft" width="210" caption="Gems diamond rough"]<strong><strong><a href="http://blog.biggstock.com/wp-content/uploads/2010/05/gem-diamonds-rough_biggstock2.jpg"><img class="size-full wp-image-370" title="gem-diamonds-rough_biggstock" src="http://blog.biggstock.com/wp-content/uploads/2010/05/gem-diamonds-rough_biggstock2.jpg" alt="" width="210" height="265" /></a></strong></strong>[/caption]

<strong> </strong>Gems Diamonds rough sales rose 11 percent to $42.9 million in the first quarter of 2010 in part due to strong prices The mining company observed that consumer demand for goods had improved and positively impacted polished prices; however, price increases for finished goods have not risen as sharply as they have for rough diamonds.

The average price per carat from Letseng diamonds rose 72 percent to $1,753. Letseng’s April tender achieved an average price of $2,002 per carat. Production from the mine fell 6 percent to 20,507 carats. Gem Diamonds ended the quarter with $88.5 million in cash and no debt

REF: <a href="http://www.idexonline.com/portal_FullNews.asp?id=33995">http://www.idexonline.com/portal_FullNews.asp?id=33995</a>

&lt;a href = <a href="http://www.idexonline.com/portal_FullNews.asp?id=33995">http://www.idexonline.com/portal_FullNews.asp?id=33995</a>” blank”&gt;Gem Q1 Sales Rise On Strong Prices &lt;/a&gt;

<strong>IGE 1Q Loss Jumps to $3M</strong>

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[caption id="attachment_371" align="alignright" width="120" caption="I G E"]<strong><strong><a href="http://blog.biggstock.com/wp-content/uploads/2010/05/ige_biggstock1.gif"><img class="size-full wp-image-371" title="ige_biggstock" src="http://blog.biggstock.com/wp-content/uploads/2010/05/ige_biggstock1.gif" alt="" width="120" height="75" /></a></strong></strong>[/caption]

<strong> </strong>IGE Resources closed its first fiscal quarter with a loss of $2.85 million (SEK 21.7 million or SEK 0.03 per share), compared with the loss of $696,000 (SEK 5.3 million) it posted one year ago. The company doesn't report in dollars, but it spent $1.5 million to buy diamond operations from Pangea DiamondFields and took a loss of $643,000 from the sale of exploration permits.

IGE further reported that it had reached an agreement with ENDIAMA to move toward production at the Luxinge diamond project. IGE Resources' portfolio includes exploration for diamonds, gold and nickel

REF: <a href="http://www.rapnet.com/News/NewsItem.aspx?ArticleID=30981">http://www.rapnet.com/News/NewsItem.aspx?ArticleID=30981</a>

<strong>Afri-Can Recovers Samples from Block J </strong>

Afri-Can Marine recovered 112 diamonds, average size 0.17 carats, from its Block J excavation program in Namibia. The two largest diamonds weighed 0.52 and 0.50 carats. The aim of sample program was to delineate diamond resources on Block J in compliance with National Instrument 43-101. Afri-Can holds a 70 percent interest in Block J through a joint venture agreement with the licensee Woduna Mining Holdings

REF: <a href="http://www.afri-can.com/en/block-j.htm">http://www.afri-can.com/en/block-j.htm</a>

<strong>Trans Hex Receives New License </strong>

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Trans Hex received a mining license to operate its Luana concession in Angola. The junior explorer owns 33 percent stake in the project. Pilot production is underway. Its Luarica and Fucauma operations in Angola remain on care and maintenance

REF: <a href="http://www.rapnet.com/News/NewsItem.aspx?Articleid=30976">http://www.rapnet.com/News/NewsItem.aspx?Articleid=30976</a>﻿