said April 11 thatthe South African Department of Water and Sanitation has approved its applicationfor a water use license to support long-term diamond mining operations at its project.

The licenseprovides the company with its requested ability to extract 410,148 cubic metersof water per year from seven boreholes, supporting the project's envisioned long-termprocessing target of 300,000 tonnes per month. It is valid for a period of 15 yearsfrom the date of issuance and may be reviewed at intervals of not more than fiveyears.

After securingthe license approval, Diamcor said it will now shift its focus to finalizing theadditional infrastructure required to support the water use license, which is expectedto be completed within the current fiscal quarter.

Upon completionof the additional infrastructure, the miner will be able to complete the testingand evaluation of the full targeted design capacity of its processing facilitiesand to compile key data from these higher processing rates, which will help thecompany make an initial production decision for the project.