RNS Number : 3431E
African Diamonds PLC
18 December 2009
18 December 2009
African Diamonds Plc
Sale of AK6 Stake to Lucara Concluded
Further to the announcement of 11th November 2009, the Government of Botswana has approved the sale of De Beers' 70.27% stake in the AK6 diamond discovery in Orapa, Botswana, to Lucara, a Canadian listed company (TSX: LUC) and an associate of the Lundin Group of companies. Construction of the mine is expected to begin in mid 2010, with start up in late 2011 at 400,000 carats a year, rising to an expected 1 million carats in 2013/2014. Updating the feasibility study will continue during the holiday period. A valuation of the AK6 diamonds recovered during exploration will be undertaken during the third week of January 2010.
Further information:
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African Diamonds Plc
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John Teeling
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Tel: +353 1 833 2833
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James AH Campbell
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Tel: +27 83 457 3724
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Finn Cap
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Matthew Robinson, Corporate Finance
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Tel: +44 20 7600 1658
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Henrick Persson, Corporate Finance
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Stephen Norcross, Corporate Broking
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College Hill
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Nick Elwes
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Tel: +44 20 7457 2020
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www.afdiamonds.com
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