Global Diamond Resources Inc. Financial Results for the First Quarter Ended March 31, 2000.Business Editors LA JOLLA La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif.--(BUSINESS WIRE)--May 26, 2000 Global Diamond Resources Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GDRS) ("Global") Friday announced the release of its quarterly report for the quarter ended March 31, 2000. Global is a diamond exploration and mining company with activities at three sites in the Republic of South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . Notwithstanding the highest rainfall in recorded history Recorded history can be defined as history that has been written down or recorded by the use of language, whereas history is a more general term referring simply to information about the past.[1] It starts in the 4th millennium BC, with the invention of writing. and a resulting loss of more that 50% of the expected tonnage throughput, revenues from diamond mining activities of $413,174 were recorded during the first quarter of 2000 as compared with $448,651 for the entire 1999 fiscal year. The Group consolidated net loss in the first quarter of 2000 amounted to $537,391 compared with $735,164 for the same quarter of 1999. At Global's Caerwinning property tonnage throughput for the first quarter increased to 132,424 tons as compared with 17,066 tons during the first quarter of 1999. The production of 1,013.86 carats of large high quality gemstone gemstone Any of various minerals prized for beauty, durability, and rarity. A few noncrystalline materials of organic origin (e.g., pearl, red coral, and amber) also are classified as gemstones. diamonds during this period (1999 first quarter -- 102.6 carats) yielded a profit on the Caerwinning operations of $36,161 (1999 first quarter loss -- $126,392). The De Beers Consolidated Mines The Consolidated Mine was a productive gold mine in Lumpkin County, Georgia, just east of Dahlonega. Like most of the area around Dahlonega, the placer mining on the land on which the mine is located probably started during the Georgia Gold Rush. Limited's (Nasdaq:DBRSY) announcement that it was no longer buying diamonds from war torn regions in Africa does not seem to have affected the market for large high quality gemstone diamonds, which remains extremely strong. Complete details of Global's operations and financial results are available in the March 31, 2000 Form 10-QSB, that can be obtained from Global or is posted on the company Web site at www.globaldiamond.com. This press release contains forms of forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are based on the company's beliefs as well as assumptions made by and on information currently available to the company. Such statements are subject to certain risks, uncertainties and assumptions, which are identified and described in the company's 1999 Annual Report on Form 10-KSB on file with the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results will vary materially from those anticipated, estimated, or projected and the variations may be material. For more information about Global visit our Web site at http://www.globaldiamond.com or call Eugene Brill Brill or Bril, Flemish painters, brothers. Mattys Brill (mä`tīs), 1550–83, went to Rome early in his career and executed frescoes for Gregory XIII in the Vatican. at 800/424-6533 or 858/459-0045. |
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