Botswana Diamonds signs agreement for 13 new prospects

Botswana Diamonds has secured an agreement with a private South African company to review 13 licences in the southwest of the Orapa region of Botswana.

Botswana Diamonds has secured an agreement with a private South African company to review 13 licences in the southwest of the Orapa region of Botswana.

As part of a three-month deal with the private group - which holds an 85% stake in the licences - Botswana will evaluate the region before potentially making a bid to buy equity interest.

The region contains the Ghaghoo Diamond mine, being developed by Gem Diamonds, and the X-36 diamond discovery made by Petra Diamonds. It also has 21 known kimberlites in the license area which covers a total of 6,518.40 sq km.

John Teeling, Chairman, said: "This agreement represents another step forward in the development of our interests and gives us access to a prospective area of Botswana, which is new to the company. Our geologists will review all the available data and, given the right results, Botswana Diamonds will agree an earn-in arrangement on specific ground.

"This agreement gives exclusivity to Botswana Diamonds and is in addition to the joint venture to the north/northeast of Orapa, which has applied for 12 exploration licences."

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

How the stamp duty holiday is pushing up house prices
Stamp duty

How the stamp duty holiday is pushing up house prices

Stamp duty is an awful tax and should be replaced by something better. But its temporary removal is driving up house prices, says Merryn Somerset Webb…
25 Sep 2020
The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Can Rishi Sunak’s winter plan save the UK economy?
UK Economy

Can Rishi Sunak’s winter plan save the UK economy?

With his Winter Economic Plan, chancellor Rishi Sunak is hoping to support the economy through the dark months ahead as restrictions tighten again. Jo…
25 Sep 2020