VANCOUVER, July 25, 2014 /CNW/ - Rockwell Diamonds Inc.
("Rockwell" or the "Company" (TSX: RDI; JSE: RDI) is pleased to
announce that all the resolutions put forward in its management
information circular were passed by the shareholders at the annual
and special general meeting held in Vancouver today.
Annual General Meeting results:
The resolutions which were passed at the meeting were as
follows:
- The number of directors was set at seven (7);
- Mark Bristow (Chairman),
James Campbell (President and CEO),
Stephen Dietrich, Willem Jacobs, Richard
Linnell, Johan van 't
Hof and Rick Menell were re-elected
as directors;
- KPMG Inc. Chartered Accountants were appointed as Auditors of
the Company for 2015;
- A share bonus of a maximum of 960,000 Common Shares to certain
senior officers and senior staff was approved; and
- Continuance of the share option plan.
About Rockwell Diamonds:
Rockwell is engaged in the business of operating and developing
alluvial diamond deposits, with a goal to become a mid-tier diamond
production company. The Company's flagship mine is the Saxendrift
Mine, in the Middle Orange River. It has recently built two new
internally funded mines in the Middle Orange river region, namely
the Saxendrift Hill Complex and the Niewejaarskraal Mine which are
both in production. Rockwell also has a development project and a
pipeline of earlier stage properties with future development
potential. The operations are based on high throughput processing
capability and Saxendrift has among the lowest unit costs in the
industry as a result of implementing fit for purpose
technologies.
The Company is known for producing large, high quality gemstone
comprising a major portion of its diamond recoveries that is
enhanced through a beneficiation joint venture that enables it to
participate in the profits on the sale of the polished
diamonds.
Rockwell also evaluates merger and acquisition opportunities
which have the potential to expand its mineral resources and
production profile and to provide accretive value to the
Company.
No regulatory authority has approved or disapproved the
information contained in this news release.
Forward Looking Statements
Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially
from those in forward-looking statements include uncertainties and
costs related to exploration and development activities, such as
those related to determining whether mineral resources exist on a
property; uncertainties related to expected production rates,
timing of production and cash and total costs of production and
milling; uncertainties related to the ability to obtain necessary
licenses, permits, electricity, surface rights and title for
development projects; operating and technical difficulties in
connection with mining development activities; uncertainties
related to the accuracy of our mineral resource estimates and our
estimates of future production and future cash and total costs of
production and diminishing quantities or grades if mineral
resources; uncertainties related to unexpected judicial or
regulatory procedures or changes in, and the effects of, the laws,
regulations and government policies affecting our mining
operations; changes in general economic conditions, the financial
markets and the demand and market price for mineral commodities
such as diesel fuel, steel, concrete, electricity, and other forms
of energy, mining equipment, and fluctuations in exchange rates,
particularly with respect to the value of the US dollar, Canadian
dollar and South African Rand; changes in accounting policies and
methods that we use to report our financial condition, including
uncertainties associated with critical accounting assumptions and
estimates; environmental issues and liabilities associated with
mining and processing; geopolitical uncertainty and political and
economic instability in countries in which we operate; and labour
strikes, work stoppages, or other interruptions to, or difficulties
in, the employment of labour in markets in which we operate our
mines, or environmental hazards, industrial accidents or other
events or occurrences, including third party interference that
interrupt operation of our mines or development projects.
For further information on Rockwell, Investors should review
Rockwell's home jurisdiction filings that are available at
www.sedar.com.
SOURCE Rockwell Diamonds Inc.