Business
Interim Results for the 6 Months Ended 31 Dec 18
Interim Results for the 6 Months Ended 31 Dec 18.
About this update from Botswana Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 7794T Botswana Diamonds PLC 25 March 2019 \n\n \n25th March 2019\n \n \nBotswana Diamonds PLC (\"Botswana Diamonds\" or the \"the Company\")\n \nInterim Statement and Financial Results for the Six Months Ended 31st December 2018\n \n \nBotswana Diamonds (AIM: BOD) is on track to commence bulk sampling and become a diamond producer by mid-2019.\n \nHighlights \n \n· The Thorny River project is on target to commence bulk sampling and produce diamonds. Agreements have been finalised with a mining contractor and a diamond processor. Delineation drilling is completed. Assuming final permits are obtained, bulk sampling will commence in May.\n· A study of the Heritage Concession in the Marange Diamond Fields in Zimbabwe yielded positive results. Botswana Diamonds has a joint venture agreement with Vast Resources plc ('Vast') to develop Heritage. \n· A report on the Maibwe prospect in Botswana has been completed and sent to BCL, the 51% owner of the licences. We expect that BCL will offer their stake for sale. \n \nBotswana\n \n1. Heavy mineral sampling over the eight previously discovered and announced geophysical anomalies in the Gope Region of the Kalahari Desert was completed. A total of 267 kimberlitic indicator minerals were discovered, which included 41 garnets, 13 chromites, 139 ilmenites, 4 chrome diopsides and 70 olivines. A grain analysis by Remote Exploration Services of Cape Town concluded that the sources were likely to be local due to the abundance, size and fresh surface textures of the indicator minerals.\n2. Botswana Diamonds now holds 100% of the equity in Sunland Minerals, having acquired for a nominal sum the 50% previously held by Alrosa as part of the Company's joint venture with Alrosa. A potential new investor, itself a large diamond producer with new ideas and keen to find new kimberlites in Botswana, is interested in acquiring 50% of Sunland.\n \n3. A report has been completed on the Maibwe licences in the Gope region of the Kalahari. The report was prepared for the liquidator of BCL which holds a 51% interest in Maibwe. Botswana Diamonds holds a net 15% interest in the company. It is expected that the liquidator will of...