CybeRelease: (OTC: SAOL) Inks Agreement With South Africa’s Chase Diamond
(CybeRelease, September 18, 2006) - Lake Harmony, PA - Sao Luis Mining, Inc. (Pink Sheets: SAOL), a diamond mining and precious metals exploration company, has announced an agreement with South Africa’s Chase Diamonds C.C. to represent the Company’s production from its Brazilian diamond mining operations at the South African tenders.
The tenders are held at locations throughout the country. Chase Diamonds is one of only 65 government-licensed diamond dealers allowed to attend the largest free market tender held approximately every two weeks at Wolmaransstad, a diamond trading center. Buyers from around the world gather at the auction to bid on a minimum of $25,000,000 in diamonds offered for sale through a bidding system that ensures fair market value on production. Chase Diamonds supplies the South African and international markets with rough and polished stones produced in its own factory.
“We are delighted that as experienced and highly regarded a firm as Chase Diamonds will be managing sales for us in South Africa, the epicenter of the diamond industry,” says Jack Lake, Sao Luis Mining President and Board Chairman. “Most important, we wanted to begin to have sales agents on board to coincide with the anticipated start of production later this month.”
For more information, go to http://biz.yahoo.com/iw/060918/0163879.html
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