Botswana Diamonds PLC MoU for Exploitation of Diamonds in Zimbabwe (6349M)
01 May 2018 - 4:00PM
UK Regulatory
TIDMBOD
RNS Number : 6349M
Botswana Diamonds PLC
01 May 2018
1(st) May 2018
Botswana Diamonds PLC
("Botswana Diamonds" or the "Company")
Memorandum of Understanding for Exploitation of Diamonds in
Zimbabwe
Botswana Diamonds ('BOD') the AIM and BSE listed explorer is
pleased to announce that it has signed a Memorandum of
Understanding with Vast Resources plc ('Vast') under which the two
companies have agreed:
-- To exchange information derived from past exploration on
areas prospective for diamonds in Zimbabwe; and
-- To form a special purpose vehicle, to be jointly owned by
each company, for the purpose of developing and exploiting diamond
resources in Zimbabwe.
Any diamond exploration programmes in Zimbabwe will be carried
out in accordance with Zimbabwe's joint ownership laws in relation
to diamonds.
As announced on 19 September 2008, Vast acquired, at that time,
a database relating to diamonds in Zimbabwe. It has also, until
2010, carried out its own exploration in the field using
information from the database. BOD has independently acquired a
Zimbabwe diamond database and, along with its significant networks,
has expertise in diamond exploration, development and mining.
John Teeling, Chairman, commented, "Zimbabwe is a country with
excellent diamond potential. Both Botswana Diamonds and Vast
Resources have extensive experience in and knowledge of the
country. It is opening for business and both BOD and Vast are keen
to make the most of this opportunity. I look forward to providing
our shareholders with further updates in due course."
This release has been approved by James Campbell, Managing
Director of Botswana Diamonds plc, a qualified geologist
(Pr.Sci.Nat), a Fellow of the South African Institute of Mining and
Metallurgy, a Fellow of Materials, Metals and Mining with over
31-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/Gerry Beaney
(Corporate Finance) +44 (0) 203 861 6625
John Howes (Broking)
SVS Securities Plc +44 (0) 203 700 0100
Tom Curran
Ben Tadd
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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