Botswana Diamonds PLC Results of AGM (0146Y)
01 December 2017 - 12:54AM
UK Regulatory
TIDMBOD
RNS Number : 0146Y
Botswana Diamonds PLC
30 November 2017
30(th) November 2017
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:
v In Botswana the Company has two joint ventures.
v The Sunland joint venture with Alrosa is now completing a
fourth year. Despite significant effort nothing has been found.
Botswana Diamond geologists will conduct an agreed work programme
for the first half of 2018.
v The Maibwe joint venture in which Botswana Diamonds has 15%
interest is held up due to the liquidation of BCL who were operator
and controlling shareholder if they invested 10 million Pula, which
they failed to do. The liquidator expects to complete the
liquidation in Spring 2018. We have made an offer to the liquidator
which will not be considered until the liquidation is completed in
early 2018.
v As operations in Botswana have proceeded slowly focus has
turned to a number of late stage projects in South Africa.
v Results from exploration on the South African projects show
promise. Ontevreden has indicated high interest mineral chemistry
and will be drilled early next year. Eight kimberlite
re-discoveries were made in the Free State and these kimberlites
will be prioritised for further work following mineral chemistry
assessment which will be done during early 2018.
v Field work on a targeted Inferred Resource at Thorny River has
been completed with formal reporting planned for early in the New
Year. This field work has consisted of extensive drilling (both
core and percussion), detailed ground geophysics, microdiamond
assessment and a large surface sample which has been taken and is
currently being processed. Previously reported historical figures
show a grade of 64 carats per hundred tonnes and a value per carat
of $200. The next stage in 2018 is to either to trial mine or bulk
sample to upgrade the resource to Indicated.
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/Gerry Beaney
(Corporate Finance) +44 (0) 203 861 6625
John Howes (Broking)
Blytheweigh +44 (0) 207 138 3204
Camilla Horsfall +44 (0) 781 784 1793
Nick Elwes +44 (0) 783 185 1855
Teneo PSG
Luke Hogg +353 (0) 1 661 4055
Alan Tyrrell +353 (0) 1 661 4055
www.botswanadiamonds.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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