RAPAPORT... African Diamonds PLC has been awarded two diamond exploration licenses near Botswana’s Orapa region.
The prospecting licenses were secured by African Diamonds’ Botswana subsidiary, Kukama Mining & Exploration, on July 25, and cover 847.3 square kilometers and 641.1 square kilometers respectively.
African Diamonds also announced it acquired 25 percent of Wati Ventures Pty Ltd, a privately owned Botswana diamond explorer, using 45,000 of its AIM listed shares. Wati owns a 1.35 percent stake in Orapa and African Diamonds owns 49 percent interest, plus four kimberlite pipes, of which two are new discoveries.
While African Diamonds' main focus is the AK6 (Orapa) and the other kimberlites being sampled through a De Beers joint venture -- the Ireland-based junior continues to develop itself into an independent diamond company in Botswana, said John Teeling, chairman of African Diamonds.
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