(PDF.L) Pangea DiamondFields PLC Buy/Sell

LONDON, Nov 10 (Reuters) - Pangea DiamondFields Plc:

RNS Number : 2328C Pangea DiamondFields PLC 10 November 2009

Pangea DiamondFields plc

('Pangea' or the 'Company')

Excellent Price for Cassanguidi Diamonds

Pangea DiamondFields plc (AIM: PDF), the diamond producer and exploration company, announces the results from the most recent sale of diamonds from its Cassanguidi Project ('Cassanguidi' or 'the Project'), which is situated 80 km East of Dundo, in the Lunda Norte Province, Angola.

The sale of 1,964 carats, which took place last week in Luanda and was facilitated by state-run diamond trading company SODIAM, yielded an average price of US$147.50 per carat. This represents approximately 82% of the Company's target price of $180.00 per carat, a target which was set prior to the fall in the price of diamonds, and is well in excess of the currently budgeted level of 70% of the target price.

Commenting on the tender outcome, Chief Executive Boris Kamstra said, "The price obtained for this parcel represents a significant improvement in rough diamond prices in Angola, adding credence to our expansion of this project. Our team on the ground is making good progress toward bringing this project to full production despite seasonally adverse weather and the usual logistical challenges. At present, the project is still on track to be at full capacity by the year end."

Further information:

Pangea DiamondFields plc Ambrian Partners Walbrook PR Ltd
Limited
Boris Kamstra Richard Brown / Louise Goodeve / Leah Kramer
Richard Greenfield
T: +27 11 438 4100 T: +44 (0) 20 7634 T: +44 (0) 20 7933 8780

Notes to Editors:

About Pangea Diamondfields PLC

Pangea DiamondFields plc (AIM: PDF) is an emerging diamond producer and exploration company with a portfolio of seven projects each with multiple resource targets, located in the Central African Republic, Democratic Republic of the Congo, South Africa and Angola. The Company aims to minimise risk by diversifying its projects geographically.

PDF listed on AIM in October 2006 and is led by a strong management team, with a track record for creating shareholder value in mineral exploration. For more information on PDF, please visit: http://www.pangeadiamondfields.com/

This information is provided by RNS The company news service from the London Stock Exchange

MSCBLBPTMMJMBJL

LONDON, Oct 21 (Reuters) - AIM-listed Pangea DiamondFields Plc (PDF), said on Wednesday that Operations Manager Boris Kamstra will take over as new chief executive officer as of Nov. 1.
Kamstra will replace Brett Thompson who is stepping down from the African-based diamond producer and exploration company to return to Australia.
PDF -- which has seven projects in the Democratic Republic of the Congo (DRC), Central African Republic, Angola and South Africa -- said last month it had $3.3 million in cash reserves.
Kamstra joined PDF in May 2006 as an engineering manager. He subsequently moved into the operations manager role with responsibility for the company's projects in South Africa and the DRC.
In the past Kamstra worked for Grinaker Concrete Construction and did projects for the Landbank of South Africa.
Thompson will remain in a consulting role until the end of December and will then continue as a non-executive director.
Shares in Pangea were down 1.49 percent at 1.4 pence at 0738 GMT, compared to a 0.2 percent increase in the UK mining index .
(Reporting by Sharon Lindores; editing by Eric Onstad) Keywords: PANGEA/

(sharon.lindores.reuters.com@reuters.net sharon.lindores@thomsonreuters.com; +44 20 7542-9937)

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LONDON, Oct 21 (Reuters) - Pangea DiamondFields Plc: