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Botswana Diamonds considers equity in Orapa licences

5th February 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Aim-listed Botswana Diamonds entered into an agreement with a private South African company, which held an 85% interest in 13 prospecting licences covering 6 518 km2 in the south-west of the Orapa region, in Botswana, about potentially buying an equity interest in the licences.

The agreement stipulated a three-month exclusivity period, during which Botswana Diamonds would review the available data on the licences and, should the analysis prove positive, negotiate an equity interest in the licences.

Botswana Diamonds chairman John Teeling said the agreement represented another step forward in the development of Botswana Diamonds’ interests and gave it access to a prospective area of Botswana that was new to the company.

“Our geologists will review all the available data and, given the right results, we 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/north-east of Orapa, which has applied for 12 exploration licences.”

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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