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Duas Barras (100% Interest)

  • Vaaldiam is re-starting operations at the 100%-owned Duas Barras mine, located in Minas Gerais.  This is consistent with our stated target to restart the operation during Q3, 2010;
  • Improvements to the feed preparation circuit, combined with the expansion of the mineral concentration circuit, are expected to improve production rates and the recovery of both diamonds and gold;
  • Mining operations commenced with approximately 33,000 bank cubic metres (‘bcm’) of overburden excavated from Mining Block #3, which will be the focus of production operations  during the next 10 months;
  • The mine is expected to produce 15,000 carats in 2010 increasing to 40,000 carats in 2011 at a projected cash cost of US$85 per carat.  Historical revenues were US$165 per carat; and
  • We are preparing exploration programs to upgrade and expand our resources at Duas Barras and we are in active discussions with local landowners to acquire additional prospective properties.

More about Duas Barras – click here.

Chapada Mine (100% Interest)

  • The mine is currently on care & maintenance pending exploration to increase resources.
  • Commercial scale production commenced March 2007
  • 2007/2008 production of 23,153 carats of diamonds
  • Indicated resource of 42,267 carats
  • Inferred resource of 32,000 carats
  • Diamond value of US$410 per carat
  • Last diamond parcel realized an price of US$800 percarat
  • Resources contained within 15km² area
  • Additional 270km² of mineral right concessions provides significant exploration upside

More about Chapada Mining – click here.

 Advanced Exploration

Brauna Gold and Diamond Projects (Diamonds: 20% Interest with an option to increase to 49%;100% interest in gold property)

  • Advanced kimberlite project currently undergoing bulk sampling
  • 22 kimberlite occurrences identified –  4 potentially economic and 18 still to be tested
  • 10 million tonnes estimated in 2 of the 4 tested kimberlite pipes.
  • Estimated average carat value of US$100 to $125 per carat
  • 800 metre long gold vein system

More about Brauna – click here.

Catalão (100% Interest)

  • Composed of at least 3 kimberlite pipe-like deposits covering a surface area of 0.75 hectares
  • Surface samples taken by Rio Tinto indicate a grade of approximately 23 cpht
  • Microdiamond analysis of drill core suggest a coarse diamond population, similar to that     observed in the Braúna kimberlites
  • Definition drilling and additional bulk sampling planned for 2011

More about Catalão – click here.

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