Having found only one gem-quality macrodiamond in the first bulk sample from the Sunda Shelf property, off the coast of Namibia, partners Trans Hex International (THI-T) and Ocean Resources (OCR-V) have decided to try again.
The access channel to the second bulk sample location is complete, and Trans Hex plans to excavate 5,000 cubic metres from a trench with an estimated gravel thickness of 2 metres.
Trans Hex has agreed to fund the second bulk sample to completion, up to a maximum of US$1 million. In return, Ocean will transfer an additional 12% project equity to Trans Hex, allowing the latter firm to reach 51% ownership.
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