Pnina Feldman: Diamond Rose Surges On Chile Buy

Diamond Rose Surges On Chile Buy

Dow Jones News 09/01/03

Diamond Rose (DRN) reinstated then jumps 4.8 cents or 77% to A$0.11. DRN announced yesterday acquisition of Guanaco gold project in Chile. Company plans to have project operational within 12 months to produce 50,000 – 100,000 ounces of gold a year at a cash cost below US$200/oz, a tidy margin over today’s spot price of US$353/oz.