North Australian Diamonds Limited

Merlin Diamonds Limited MED is publicly listed on the Australian Stock Exchange, trading under the symbol MED. The Company is developing its flagship Merlin Diamond Mine Project in the Northern Territory, Australia with the aim of establishing a sustainable long term mining operation that delivers value to all stakeholders. In addition Merlin Diamond Limited is engaged in extensive exploration for further sources of diamonds in and around Merlin, and in other areas of the Company's tenement holdings associated with its North Kimberley  and Arnhem Land projects.

The outlook for rough diamond prices is favourable with Edward Sterck, an analyst with BMO Capital markets,  highlighting supply constraints and growing demand as fundamental drivers for diamond prices a rise 5% per year in real terms through to 20161

Independent Diamond Valuers Pty Ltd recently completed valuations of the run of mine (ROM) rough diamond parcel, with the price now being assessed in excess of US$330 per carat. Independent Diamond Valuers Pty Ltd stated in their recent valuation, "The Merlin production was sold to the Antwerp market for a number of years by its previous owners Rio Tinto and Ashton Mining, during that period the Merlin production was a sought after item and which to this day is recognised by Diamantaires for its exceptional white content in the higher quality goods. Reintroducing the Merlin production to the market would be a relatively straight forward task and would certainly be well received by Diamantaires."

In 2012, the Company sold a portion of the 10,600 carats of diamonds recovered during the 2010 pre-feasibility production trials, with the larger diamonds retained by the Company. The sales generated proceeds of US$1.865 million. The small diamonds achieved a strong premium of 62% over the reserve price confirming the strong demand for high quality diamonds. The remaining large diamonds are yet to be sold. After the sale, eDiamonds, a diamond auction house, made the following comment on the Merlin diamond parcel. "Through price comparison and analysis of the market, eDiamond believes the achieved prices of the sold goods were very high. This is backed by numerous comments of important players on the market." This feedback supports our confidence in the quality and saleability of Merlin diamonds. The Company has retained a quantity of the larger diamonds, one of which has been cut and polished, for future sale and for marketing purposes. The diamonds from Merlin are known to be high clarity, super white, high value stones.

Merlin Diamond Limited offers a unique growth profile within the diamond sector, with its competitive advantage based on the quality of its diamonds. The Merlin mine has shown that it produces large stones of high quality and of a distinct 'super-white' colour, and by capitalising on this it will enable 'branding' and boutique marketing opportunities, facilitating the development of a uniquely Australian diamond brand.  

1 Bloomberg TV interview January 2012

© 2012 Merlin Diamonds Limited. All rights reserved.

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Latest News
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  • 31 August 2018 Two large white high quality diamonds recovered at Merlin diamond mine > Read more


  • Merlin Diamonds Limited
  • Level 1A, 42 Moray Street
  • Melbourne Victoria 3006
  • Telephone 61 (03) 8532 2858
  • Facsimile 61 (03) 8532 2805