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African Diamonds Plc

17.12.2009

African Diamonds Plc is a diamond exploration company listed on the London and Botswana Stock Exchange. African Diamonds plc is incorporated in England. The Company was established in 2000 to develop diamond mines in Botswana and West Africa.
The company has an exciting portfolio of projects based in Botswana and Congo.

The focus of activity is the African Diamonds/De Beers joint venture on 4,500sq km in the Orapa area of Botswana.
African Diamonds formed Boteti Joint Venture with De Beers in 2004. Initial shares were fixed at 49/51. AFD/DB changed to 30/70 on completion of the first Bankable Feasibility Study (BFS).

Mining Projects

The AK6 deposit is situated approximately 15km south west of Letlhakane. A world class diamond discovery, African Diamonds' Joint Venture partners in Boteti Exploration Company are De Beers (66.22%) and Wati Ventures (5.4%). African Diamonds holds 28.4%. Once on stream, AK6 will be in the top 5 hard rock diamond mines in the world. 
Indicated Resource Declared for AK6 is 11.1 million carats (up to the depth of 400 metres), or 51.8 million tonnes. Average grade: 22 carat per hundred tones. Additional deposit potential above 400 meters is estimated at 22.28 million tonnes, according to De Beers’ data. 

AK8 Project is 100% owned by African Diamonds. Pipe AK8 is now estimated from ground geophysics at around 5 hectares in size. Fifty-four stones weighing a total of 6.33 carats including one 2.26-carat stone, were recovered from the 98 tonnes extracted from four holes in the kimberlite using 12-inch drilling. Two of the four holes were negative and two were positive for macrodiamonds. 

AK9 Project is 100% owned by African Diamonds and is located 10km away from AK6 and 20km away from the Orapa Mine. The local infrastructure is excellent. Development opportunities are currently being explored. There is the potential for AK9 to be a small mine or feeder to AK6.

African Diamonds also has a number of prospecting projects located in Botswana, namely Kedia Project (prospecting Licences 84/2007, 85/2007, 193/2007, 194/2007 and 195/2007), Mmashoro Project (prospecting Licence 50/2004).

Official website of the company: http://www.afdiamonds.com/wad/view/wad/en/page472

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