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RAPAPORT... Botswana Diamonds was admitted to London's Alternative Investment Market (AIM) exchange today under the ticker BOD with a closing price of 6.25-pence. This exploration firm was formed following the takeover of African Diamonds by Lucara Diamonds and holds three exploration licenses in Botswana. These licenses include AK8 and AK9, which are between the Orapa and Letlhakane mines, and BK5, near Damtshaa.
Botswana Diamonds has $2 million in cash to fund exploration this year and is planning to follow opportunities in Zimbabwe and Cameroon. It was also announced today that Andre Fourie, a veteran of Anglo American and De Beers, joined the company as technical director.
John Teeling, chairman of Botswana Diamonds, said, "Botswana is the best diamond address in the world. Botswana Diamonds holds good ground where exploration and drilling has already discovered kimberlites containing diamonds. As we have held these licenses for a considerable amount of time, we are exploring options such as bulk sampling AK8/AK9 and core drilling BK5. We see excellent potential, though early stage, in license PL7/2004 in the east of the Orapa region. A sampling and drilling program is planned for this year."
"I am delighted to welcome Andre Fourie as technical director. He has a wealth of diamond experience. He will manage the exploration programs. This is a very good time to be in resources. Diamond demand is rising as are prices. Diamonds are hard to find. We have the team, the expertise and the ground," Teeling said.
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