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VANCOUVER, Nov. 13, 2012/CNW/ - Diamond FieldsInternational Ltd. (TSX: DFI) ("DFI" or the "Company") releases this update.
The Company is in discussions with the Government of Liberiafor resolution of its arbitration against the Government regarding the Company's Henry Towngold project.
The Company recently met with its Atlantis II Red Sea joint venture partner and updated the joint venture's action plan for moving forward with development of the project. Representatives of the Company are scheduled to meet in December with third parties to discuss possible financing options for the project.
The Company is making application for additional offshore mineral deposits in southern Africa. Applications are being prepared and are expected to be filed shortly.
The Company is also considering options for the further development of its offshore Namibian concessions and in discussions with a third party regarding same.
The TorontoStock Exchange (TSX) has notified the Company that the TSX is reviewing the Company's common shares with respect to meeting the continued listing requirements and that the Company has been granted 120 days to regain compliance with those requirements. The Company is working to address the points raised by the TSX. The Company is also exploring financing options, including financing with third parties.