Rockwell Diamonds’ Sale of Unproductive Assets Generates C$6.5 Million

Rockwell Diamonds Inc. (TSX:RDI,JSE:RDI,OTC:RDIAF) reports the sale of three non-core assets netted C$6.5 million.

The press release is quoted as saying,

The sale of Makoenskloof property, located in the Northern Cape, was concluded in mid July 2011 for C$0.9m, which will be settled by the end of August 2011. The decision to sell this property was taken after the exploration and evaluation results showed that it did not fit Rockwell’s investment criteria and that it might prove attractive to a third party with a different set of skills.

Rockwell’s CEO, James Campbell says,

This analysis of the Company’s asset register helped us to identify three assets that were not generating adequate returns and the decision was taken to sell these to generate funds for our capital investment programme.

For the complete press release, click here.