Botswana Diamonds PLC - Results of AGM

RNS Number : 5632K
Botswana Diamonds PLC
14 December 2018
 

 

14th December 2018


Botswana Diamonds PLC

("Botswana Diamonds" or the "Company")

 

Results of AGM

At the Botswana Diamonds plc ("Botswana Diamonds") Annual General Meeting ("AGM"), which was held in London earlier today, all resolutions were duly passed.

 

Highlights of comments made by James Campbell, Managing Director, following the formal business of the AGM are highlighted below:

 

Negotiations with a new joint venture partner, who is a major producer, are far advanced in The Sunland joint venture covering Botswana.  This follows the planned exit of Alrosa, and completion of the 2018 work programme which identified high potential drill targets in the Kalahari by Botswana Diamonds' geologists.

 

A draft Prospectus has been compiled by the liquidators of BCL on the Maibwe joint venture in the Kalahari Desert. BCL intend to sell their interest.

 

A royalty mining agreement has been signed on the Thorny River Project in South Africa.  This will allow early generation of revenue once permitting is completed and the recovery of sufficient diamonds and other geological information to declare a maiden resource.

 

Botswana Diamonds plans to drill the South African Free State cluster of kimberlite pipes following encouraging whole rock geochemistry, mineral chemistry and ground geophysics work.

 

Work is progressing on the concession in the high-grade Marange Diamond area in Zimbabwe: field work is already underway, and 2019 plans being finalised. A formal agreement with the concessionaire Vast Resources is being completed.

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

 

This release has been approved by James Campbell, Managing Director of Botswana Diamonds plc, a qualified geologist (Pr.Sci.Nat), a Fellow of the Southern African Institute of Mining and Metallurgy, a Fellow of the Institute of Materials, Metals and Mining (UK) and with over 33-years' experience in the diamond sector. 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

ENDS

 

Enquiries:

Botswana Diamonds PLC


John Teeling, Chairman

+353 1 833 2833

James Campbell, Managing Director

+27 83 457 3724

Jim Finn, Director


Northland Capital Partners Limited


David Hignell / Dugald Carlean (Corporate Finance)

+44 (0) 203 861 6625

Abigail Wayne


SVS Securities Plc

+44 (0) 203 700 0100

Tom Curran


Ben Tadd


Blytheweigh

+44 (0) 207 138 3204

Simon Woods

+44 (0) 7466 439 633

Julia Tilley

+44 (0) 7815 068 387

Teneo PSG


Luke Hogg

+353 (0) 1 661 4055

Alan Tyrrell

+353 (0) 1 661 4055

 

www.botswanadiamonds.co.uk

 

Follow us on Twitter @BotswanaDiamond


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