Merlin Diamonds Share Price Surges 25%

Merlin Diamonds Ltd [ASX:MED] has seen some strong results from its diamond projects.

After 1000+ diamonds were recovered from stockpiles in sites undergoing refurbishment, Merlin Diamonds share price increased by 25%.

A new processing plant from South Africa and China is currently being manufactured.

Merlin is expected to conclude a deal with a local mining company to begin its operation in the Ector mine located in the Northern Territory.

Increasing production across different projects

Merlin Diamonds has wasted no time in increasing its production rate.

It has raised over $3 million to further enhance its operations, which includes upgrading its equipment.

The new trammel scrubber, which is paramount for efficient mineral recovery, will separate minerals into three fractions which will in turn increase the head feed rate from 40tph to 150tph.

Merlin has also purchased a new Dense Medium Separation (DMS) module from South Africa, which will increase production from 15tph to 40tph.

The technology has been used for diamond recovery for over 150 years.

With multiple projects in the woodwork, Merlin has a strong outlook for the future.

Regards,

Ryan Clarkson-Ledward,
For Markets & Money

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Ryan Clarkson-Ledward is a junior analyst for Markets & Money. Ryan has degrees in both communication and international business. His priority is bringing you the latest price updates on stocks through ASX updates, as well as supporting Sam Volkering with background research. As part of the team at Markets & Money his aim is to provide unbiased and relevant news for readers. Ryan’s work with Sam is designed to provide research that complements Sam’s analysis for small-cap and technology stocks. Together, their objective is to break through all the jargon and give you the hard facts to inform your investment decision-making. Ryan writes for:


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