Extension of agreement on licences in Botswana

RNS Number : 8054D

Botswana Diamonds PLC

02 May 2013

 



02 May 2013

Botswana Diamonds plc ("Botswana Diamonds" or the "Company")

Extension of Agreement on 13 prospecting licences southwest of Orapa, Botswana

Botswana Diamonds plc (AIM:BOD) today announces that, further to its announcement of 5 February 2013, the Memorandum of Understanding with the private South African company which granted Botswana Diamonds a three month exclusivity period to review the available data on a licence area has been extended until 14 June 2013.  The counterparty holds an 85 per cent interest in the thirteen licence block located to the southwest of the Orapa region of Botswana. 

The board of Botswana Diamonds is pleased with the results of the Company's in-house evaluation. To confirm the findings Botswana Diamonds' joint venture partner in the Orapa area is, at the Company's request, applying its technology to the initial analyses. The joint venture partner expects to have results by the end of May 2013.

John Teeling, Chairman, commented: "We are very pleased that our partner, a private South African company, has extended the Memorandum of Understanding on the 13 licence blocks in the Gope region until mid-June. Our results so far are exciting but diamond exploration is high risk, so we have requested this extension to enable additional work be undertaken by the multinational partner working with us in Orapa. Our partner is using its unique technology to evaluate and corroborate our findings."

Enquiries:

Botswana Diamonds PLC

John Teeling, Chairman                                                 [phone]

Robert Bouquet, Director                                             + 32 477 228851

Westhouse Securities Limited

Richard Baty                                                                       [phone]

Keith Bayley Rogers & Co. Limited

Niall Pearson                                                                     [phone]        

Hugh Oram                                                                         [phone]

African Alliance Botswana Securities

Kabelo Mohohlo                                                              [phone]

Oratile Leburu                                                                  [phone]

Blythe Weigh Communications                                 [phone]

Tim Blythe                                                                          [phone]

Paul Weigh                                                                         [phone]

Robert Kellner                                                                  [phone]

Pembroke Communications

David O'Siochain                                                             [phone]

www.botswanadiamonds.co.uk

 

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