An agreement between Rhand Industries (ASE) and Oxford Investment over the sale of a 70% interest in Atlantis Diamonds has been canceled by mutual agreement.
“Unforeseen delays and the inability of Oxford Investment to reach agreement for acquisition of the 30% of Atlantis Diamonds not owned by the company (Rhand) are the primary reasons given,” Rhand reports. However, Rhand has been recovering diamonds as large as 5.1 carats and as small as 0.2 carats from its Brazilian pilot plant. It intends to continue alluvial mining and seek joint-venture partners for the drilling of potential kimberlites.
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