Rockwell to Keep Supplying Steinmetz With Diamonds

Rockwell Diamonds Inc. has extended and amended a loan agreement with its principal shareholder, Daboll Consultants Ltd. The $2 million convertible loan repayment date was extended by two years to June 2, 2015 and the conversion right has been amended. The agreement also extends the current diamond marketing and beneficiation agreements with Daboll’s affiliate Steinmetz Diamonds until 2018.

"This extension reinforces our long standing partnership with Steinmetz Diamonds, both as our strategic marketing partner and Rockwell’s largest shareholder,” said Rockwell President and CEO James Campbell.

"The strength of this partnership stems from our unique positioning in the diamond industry: Rockwell produces large, high valued investment diamonds and Steinmetz Diamonds focuses on beneficiation and sales in this segment. The majority of our production profile comprises the rare investment grade rough diamonds that Steinmetz Diamonds is renowned for polishing and marketing at the high end. Both parties have derived significant value from this partnership to date and we are confident that it will continue to add value going forward.”

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