http://www.afdiamonds.com/




RNS Number:8054A
African Diamonds PLC
14 July 2004

AFRICAN DIAMONDS plc.

Exploration Update



African Diamonds plc (AIM: AFD) the diamond exploration company, wishes to
report significant progress on a number of fronts in its joint venture with De
Beers to explore for and, if successful, develop new diamond mines in Botswana.


* A detailed airborne survey of the 1300 sq kilometre Orapa licences has
been completed. Analysis of the results has revealed new, very significant,
targets which will be subject to further detailed investigation in the near
future.


* An area of the under-explored 1000 sq km licence north of the Orapa mine,
is currently being surveyed using the airborne Bell Geospace system. This
state of the art technique will hopefully indicate previously undiscovered,
possibly large, kimberlite pipes.


* The 29 known kimberlites on the joint venture licences, are being explored
with detailed ground geophysics. Early results indicate that some of
the kimberlites may be larger than previously believed.


* A substantial drilling programme, including wide diameter drilling,
will commence this month.


* Results of 100 tonne bulk samples already taken from kimberlites AK6
and AK10 will be available during the next quarter.


* Earlier exploration by African Diamonds on the Serowe licence, 120 kms
southeast of Orapa, produced significant diamond indicators. These findings
are being re-analysed and evaluated by De Beers. The conclusions will
determine the next step in exploration. Additional licenses in this area are
expected to be awarded to the joint venture.



In addition, the Company reports that trial mining has begun on Pipe 3 in Sierra
Leone and is producing diamonds. Commissioning is proceeding but has had
significant delays due to operational issues.



John Teeling, Chairman of African Diamonds plc, said:


"The value of a joint venture with a world class partner is shown here. In three
months, our partner has carried out exploration which would have taken us years
to complete and cost millions. I am delighted with the results emerging and I
anticipate there is more to come. We believe that our ground is premier class -
the findings support that view. Flying the Bell system and drilling the
kimberlite targets foretell exciting times in the coming months.


"Commencing trial mining on Pipe 3 in Sierra Leone has taken significantly
longer then anticipated but it has begun and is producing diamonds. African
Diamonds should be in a position to provide a detailed update shortly."



Contacts:

African Diamonds Plc
John Teeling Tel: +353 1 8332833
Mark Scowcroft Tel: +27 11 447 4997


Redleaf Communications
Emma Kane/James White Tel: +44 (0) 20 7955 1410


Rowan Dartington
Ian Rice Tel: +44 (0) 117 933 0020



Notes to Editors:

* African Diamonds and De Beers announced the signing of the agreement to
establish a joint venture company to explore for, and if successful, develop
new diamond mines in Botswana on 22 April 2004;


* Ownership of the joint venture is initially 49% African Diamonds and
51% De Beers with De Beers funding the joint venture through to bankable
feasibility study. De Beers' shareholding will rise to 70% upon completion of
the first bankable feasibility study. The size of any mine resulting from the
joint venture will decide whether it is managed by De Beers or African
Diamonds with larger mines operated by De Beers and those below an agreed
threshold operated by African Diamonds, who will receive a preferential
profit share in those operations of Newco.


* Further information on African Diamonds plc is available at the Company's
website: www.afdiamonds.com





This information is provided by RNS
The company news service from the London Stock Exchange
END

DRLQXLFFZDBBBBZ


RNS Number:3339B
African Diamonds PLC
29 July 2004


Koidu Mining Update

African Diamonds is pleased to announce that the commissioning of its Pipe 3
bulk sample trial mine in the Koidu diamond region of Sierra Leone is well
advanced. The pipe is fully prepared for mining while the washing plant is
currently processing 60 tonnes per day. Work continues on the plant to improve
efficiency of operation and throughput.

Ore currently being processed consists of low-grade surface material including
decomposed kimberlite breccia that was stockpiled during mine preparation. It is
intended that 10,000 tonnes will be processed to establish grade and quality. To
date over 800 tonnes of material have been washed from a surface stock pile of
1,500 tonnes. More than 140 diamonds, around 40 per cent of which are thought to
be gem quality, including one stone weighting in excess of 6 carats, have been
recovered. Once the stock pile is processed, the plant will move on to
undisturbed, slightly weathered and fresh kimberlite from the current floor of
Pipe 3.

John Teeling, Chairman of African Diamonds said, "Our objective in trial mining
Pipe 3 is to establish the commerciality of the pipe for full-scale mining. We
have established that the pipe is bigger then first thought, and contains
diamonds. Once the 10,000 ton sample is processed we will know the grade,
quality and weight of the diamonds".


This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLQVLFLZDBZBBL

http://www.afdiamonds.com/

Nothing here to be said from me, apart from stick your money down sit back and wait and watch your money grow!

is this management real

Why is there a rise lately anyone know???

this is falling back to 35p should not have gone up in first place all short termers are selling out and buyers catching falling knife.
t10ners will pull out soon.

The rise started almost immediately after Shares magazine published an issue
about mining, with a strong reccomendation about Petra Diamonds. I guess AFD
were included in the frenzy of buying diamond companies.

there was also an update on the project with de beers a fewe days ago. looks like positive news on drilling results if i remember correctly.

If you read the report from African Diamonds below, news should be due shortly

'A programme of systematic drilling is to commence in the near future.

Bulk samples of 100 tonnes each previously drilled from kimberlites AK6, AK10
and BK11 are being processed for macro-diamonds by De Beers. The results for AK6
and AK10 are expected in the near future.

In the Shashe area, a high resolution airborne magnetic survey will shortly be
undertaken.'
Full report below;
, African Diamonds PLC
26 October 2004

26th October 2004

African Diamonds plc

Botswana Update

African Diamonds is pleased to announce the completion of the full suite of
agreements associated with the De Beers joint venture announced on April 22nd
2004. The parties have formed a new company, Boteti Exploration Pty Limited
(Boteti), (African diamonds 49% and De Beers 51%) which will act as the
operating company for the joint venture. The prospecting licences currently held
by the parties and forming part of the joint venture will, with the approval of
the Botswana Ministry of Minerals, Energy and Water Affairs, be acquired by
Boteti.

The joint venture currently comprises eleven prospecting licences covering 3,964
km2 in three project areas; Orapa, Serowe and Shashe.

The Orapa licences contain 29 known kimberlites of the Cretaceous Orapa
kimberlite province. In addition, the joint venture has applied for prospecting
rights to a further 10 kimberlites.

Following completion of the full suite of agreements outlined above, De Beers
have provided the following update:

De Beers Prospecting Botswana (Debot) commenced exploration work as the joint
venture operator in April 2004 and has made considerable progress with an
extensive programme of airborne and ground geophysics in the Orapa area. A Bell
Geospace Air FTG airborne gravity survey covering 501km2 of the pan areas to the
north of Orapa, is 55% complete. The Orapa licence areas have also been covered
by new, high resolution magnetic surveys. A first pass interpretation of this
data has generated 199 targets requiring further investigation.

The economic potential of each of the 29 kimberlites within the current licence
areas is being investigated. Detailed ground geophysical surveys have been
completed over all of the kimberlites. This information is being used to
provide reliable estimates of the size of each kimberlite, and to site drill
holes for bulk sampling and delineation purposes. Early results indicate that
several of these kimberlites may be considerably larger than previously
believed.

A programme of systematic drilling is to commence in the near future.

Bulk samples of 100 tonnes each previously drilled from kimberlites AK6, AK10
and BK11 are being processed for macro-diamonds by De Beers. The results for AK6
and AK10 are expected in the near future.

In the Shashe area, a high resolution airborne magnetic survey will shortly be
undertaken.

In the Serowe block, three additional prospecting licences covering 2,089 km2
have been acquired by the joint venture in recent weeks. High resolution,
airborne geophysical surveys are being planned in the search for kimberlites and
possible alluvial diamond deposits.

some news for those who may have missed it:

LONDON (AFX) - African Diamonds PLC said the estimated average value of diamonds from its project in the Orapa area in Botswana is 138 usd per carat.

Analysis carried out on kimberlite pipe AK6 at Orapa shows an average grade of 25 carats per 100 tonnes, the company said.

AK6 is one of 29 known kimberlites which are part of the Boteti joint venture in which African Diamonds holds 49 pct and De Beers 51 pct.

African Diamonds said it will begin a comprehensive exploration programme early next year to refine the estimates.

newsdesk@afxnews.com


any diamond miners out there who can comment on this? (diamond miner being such a common trade of course....)

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2005/01/20/cndiam20.xml

Right carry on at the AGM.
Always difficult to compare or evaluate projects on very sparse data like this. When an exploration company reports an average value for a sample of stones, you really need to know how big the sample was and if it is representative of the range of diamond sizes and quality expected under commercial mining and recovery conditions. Often the care taken to recover diamonds under the close supervision common at the exploration stage cannot be replicated at the bulk scale, or the area chosen is not representative of the pipe as a whole. The last sentence suggests that the sample was not representative.
Result is interesting in that it shows there are diamonds in the largest pipe but I tend to take all results from a Teeling company with a large dose of salt. If the company was listed on TSX, it would have to be more specific about what these results really mean in economic terms rather than this type of carrot dangling.
The open hostility between the Dublin crowd and the technical people on the ground in Botswana makes me also believe that some very partial disclosures of information is going on.

wonder what's going on today ?

nice bit of blue !

the strong rand will kill mining

well it hasn't yet mate.

Are M.M. moving this or solid news due.

Now AFD appear to be asleep or gone awol,over 6 weeks no news , is this how to run a company J.T. ,sp is slipping ,or do you care less.

slipping? - it's slup!

There has just been a good RNS released ref diamond finds, RNS service is now down though, will post when able to.
wilbs

There is currently a problem with the displaying of RNS news stories on the site - I have contacted our supplier to get them to take a look into this for me,

Ian

Good timing or what, bought these yestaday at 47p.

Thanks ian, I managed to read it earlier from the MAM site but diddn't copy & paste it & when I went back it was down along with uk wire.
wilbs

African Diamonds PLC
23 June 2005


23rd June 2005



African Diamonds plc

Exploration Update



African Diamonds plc, (AIM: AFD), the diamond exploration company, is pleased to
provide an update on its activities in Sierra Leone, Guinea and Botswana.



Highlights

7.22 carat gem quality diamond discovered in Pipe 3 Sierra Leone valued at
$16,865.
5.16 carat gem quality diamond recovered in Bomboko, Guinea.
Large Diameter Drilling programme (LDD) commencing on Pipe AK 6 in
Botswana as part of a $7 million exploration project in 2005.
Two high priority targets identified by Xcalibur, an airborne magnetic
survey, on the Mmashoro concession in Botswana.



Sierra Leone

The bulk sampling project on Pipe 3 in Koidu is almost concluded. To date
diamonds weighting a total of 925 carats have been recovered. The first two
parcels, 459.93 cts and 373.68 cts, have been officially assessed and valued by
the Sierra Leone Government Gold & Diamond Valuation Office (GGDO). Over 80% of
the diamonds were classified as gem quality. The parcels were given a total
valuation of US$179,000 (average value of $215 per carat). Two highly
experienced independent consultants (geology and mining) have reviewed our work
program and results to date. Their reports will evaluate the operations and make
recommendations. Plant difficulties have caused extensive delays and resulted in
inefficient processing of over 6,000 tons of material, which has been stockpiled
for reprocessing.



Over 14.5 kms of dykes on the licences adjacent to Pipe 3 have been identified
and mapped. Limited sampling suggests that most if not all of the dykes are
diamondiferous. A fissure mine specialist and a geologist with extensive West
African experience have reviewed the work programme and results. Their
recommendations are imminent.



Limited work has been done on the mining licence held over the Plant 11
undersized diamond tailings dump, which is estimated to contain over 7 million
tons of material. Samples tested by Process Research Associates Ltd. of
Vancouver confirm the presence of gold and platinum group metals. The company is
currently considering its options for developing this licence including holding
discussions with parties interested in participating in the development.



Guinea



The focus of activities is on the Bomboko concession where the Ministry of Mines
has granted a three-year semi-industrial mining licence. It is planned to source
basic earthmoving equipment and other plant to be on site towards the end of
2005, the start of the dry season, to commence alluvial mining.



Exploration sampling by manual excavation of pits and simple washing recovered
64 diamonds weighting 27.59 carats. These were valued by the authorities in
Guinea in the region of $150 to $200 per carat. Recent gravel washing has
yielded a 5.16 gem quality stone.



Botswana



With respect to the Boteti Exploration Joint Venture between African Diamonds
and DeBeers, a Large Diameter Drilling (LDD) programme will commence shortly on
kimberlite AK6 in the Orapa area of Botswana. This drilling programme is in
addition to the ongoing core diamond drilling where three rigs are operating.
The two programmes, budgeted to cost $7 million in 2005, will refine the size
and shape of the pipe and the grade and quality of the diamonds. To speed up the
analysis, our joint venture partner, De Beers, is constructing a DMS diamond
processing plant on a site close to the pipe.



Meanwhile exploration continues on the remaining 25 plus kimberlites in the
joint venture. Detailed analyses from bulk samples on five kimberlites are
awaited.



In the 100% owned Mmashoro licence, 50 kilometres to the SE of Orapa,
preliminary analysis of the Xcalibur data indicates a number of targets worthy
of ground follow up, including drilling. Two targets in particular will be given
high priority. African Diamonds continues to sample this 1000 sq km area at one
kilometre intervals. It is expected that the sampling will be completed during
July. Laboratory analysis of the first 150 samples has yielded significant
kimberlitic indicator minerals.



John Teeling, the Chairman of African Diamonds plc, said:



'African Diamonds is actively pushing ahead with projects in three countries.
Our trial mining on Pipe 3 in Sierra Leone is concluding. We have learned a
great deal. The grade is low but we are encouraged by the quality and size of
stones. An expert report on the project suggests major plant modifications to
enable processing of material from both Pipe 3 and the surrounding kimberlite
dykes. We are examining a proposal to drill the pipes and the dykes.



The mining licence we hold on the Plant 11 tailings is proving attractive to
potential joint venture partners. We can either commence a detailed exploration
programme or look at the feasibility of constructing a plant to recover gold,
platinum and diamonds.



Our operators in Guinea are moving ahead with the proposed alluvial mining
project in Bomboko but it is in Botswana that the bulk of exploration is taking
place. By year-end we should have a refined estimate of the size grade and
quality of Pipe AK6. Xcalibur has yielded two high priority targets that require
ground follow-up, hopefully leading on to drill testing in the near future.'







Further information:



African Diamonds Plc

John Teeling Tel: +353 1 8332833
Mark Scowcroft Tel: +27 732 353 757



Bell Pottinger Corporate & Financial

Nick Lambert Tel: +44 (0) 7811 358 764



Panmure Gordon & Co

Matthew Robinson / Jonathan Retter Tel: +44 (0) 207 459 3600



Note to Editors:

1. As the world's leading diamond company, operating on five continents,
De Beers employs almost 24 000 people worldwide. With 20 operations in Africa
and more than a century of extensive diamond mining experience, De Beers
endeavours to create successful and sustainable mining activity wherever it
operates. In 2004, De Beers exploration has reached 'partner of choice' joint
venture exploration agreements and strategic alliances in Canada, Botswana,
India, Democratic Republic of the Congo, Central African Republic, Russia,
Australia, Brazil and Madagascar. During this period the company's geologists
have discovered 39 new kimberlite deposits in seven countries on four
continents. De Beers geologists have to date discovered over 1600 kimberlites
in the world and those developed into mines will contribute approximately 82% of
the diamonds mined by De Beers and its partners, Debswana and Namdeb in carat
terms and 75% by value in 2004. For further information on the De Beers Group,
please visit
www.debeersgroup.com





This information is provided by RNS
The company news service from the London Stock Exchange

Nice one Aldwick.

I went to AFD share quote and clicked on AFD news.

You clever thing you.

RNS at last -good,thats better.

we will be off very soon . loads of money.

Love the in depth research Tanker, as ever!

sd

just watch.

Tanker..do you think there might be a bid for AFD?

TANKER...why have they gone down today ?

just watch. and learn.

just watch. and learn.

When will they announce a bankable feasability report of a commercial diamond mine about to up and run,or will they keep drilling holes ad infinitum.

mbugger - look at it this way, if they drill ad infinitum, they might just strike Kimberlite at the source of the Yellow River in N. Chinas - lol!

sd

Hi All,

Looks like De Beers is making a move to aquire AFD ....

Two announcements today, De Beers make sure that directors wishing to sell any stock, have to offer their shares to De Beers FIRST at the current market price, and so Mark Scowcroft resigns, it all points to De Beers making an offer for AFD.

Cheers,
PM

-----------------------------------------------
African Diamonds PLC
23 August 2005

23 August 2005



African Diamonds plc

Pre-emption Agreement


African Diamonds announce that De Beers Prospecting Botswana (Debot) has
requested the board to implement one of the terms of their joint venture
agreement whereby African Diamonds procures that each director grant rights of
first refusal to Debot over that directors shareholding.


Under the right of first refusal, if a Director wishes to sell any of his
shareholding in the Company, the Director must first offer to sell those shares
to Debot at the prevailing market price. Debot is not obliged to take up the
offer.


No Director has any current intention to dispose of any shareholding in the
Company.

-------------------------------------

African Diamonds PLC
23 August 2005

23 August 2005



African Diamonds plc

Director Resignation


African Diamonds plc (the 'Company') announces that Mark Scowcroft has today
resigned as a director of the Company.

Hi All,

Been thinking on the way home about this news today, and I think that it must be taken positively, for the following reasons :-

De Beers already have 51% of the Botswana JV, why would they 'suddenly' want any stock that AFD directors were interested in selling, if they already have control of the JV, and if the directors had no current plans to sell any stock ?

Why would they be bothered if Mark Scowcroft wanted to leave, they have 51% of the JV, so who cares whether he sells his stock to A.N.Other ?

That leaves me with such options as, have De Beers hit paydirt bigtime, or are they looking to make an offer for either the 49% of Debot, or the whole of AFD, or do they think someone else is looking at making an offer for AFD ?

Last year Leon Daniels quit AFD shortly after the De Beers deal, and Mark Scowcroft has now quit after De Beers excersised their option, to make him sell any stock to them, prior to offering that stock to A.N.Other, and so De Beers must know that there is something out in Botswana worth increasing their holding for, and Mark Scowcroft blatantly does not want De Beers to take everything that he has worked for over tha last (?) several years, so he has forfeited his options, and quit.

This will either pop to 1 or drop to 25p tomorrow, I know which I think it will be, lets wait and see :)

Cheers,
PM

Hi All,

Is this the answer ????

Decision on Firestones Groen River Valley next year
By: Gareth Tredway
Posted: '11-AUG-05 07:59' GMT Mineweb 1997-2004

GABORONE (Mineweb.com) -- Firestones Groen River Valley alluvial exploration project, which De Beers recently entered into as joint venture partner, could be at board decision level by next year.

Speaking at the Botswana Resource Conference on Wednesday, Firestones chief executive, Philip Kenny, says that once the exploration and drilling results yield a certain level of confidence, a decision will be made.

By the middle of next year, this is where we expect the project to be, and this is the stage where De Beers decides whether to build a mine or not, Kenny told delegates.

De Beers already mines extensively along the west coast of South Africa and Namibia, including at the mouth of the Groen River. But Kenny says Firestones large tenement inland is unexplored.

This is a multi-million carat, multi billion-dollar potential resource, said Kenny.

So far, with De Beers, 13 deposits have been identified in the area, while initial estimates are expected in the next couple of months on what is in the ground.

At this point we can say it is in the multi-100 million ton order of magnitude, says Kenny, say a 200-300 million ton resource.

We do think that, if we are right, there will be a number of mines in this area.

Firestone already operates the Avontuur and Oena Alluvial mines in Namaqualand, on the west coast of South Africa.

The company also has JV agreements with De Beers in Botswana, on the Orapa and Mopipi exploration projects.

There are also news reports out of London, that Firestone is in talks with large shareholders in African Diamonds, another Botswana diamond explorer, to buy its holdings in the company.

African Diamonds is also in a JV deal with De Beers in the Orapa area.


Looks like an interesting day for AFD tomorrow :)

There must be something out there worth having ....

Cheers,
PM

Hi All,

As you can see, I am just getting up to speed with AFD, and this bit from The Guardian, dated 21 July 2005, gives an idea of what may have caused De Beers to go for the Pre-Emption agreement, but nevertheless, it shows there must be good value in the Botswana JV areas, or De Beers wouldn't give sod about thee stock going to Firestone, especially as they are already in a JV with them on other land !!!!


http://www.guardian.co.uk/business/story/0,3604,1533823,00.html#article_continue
Finally, keep an eye on Aim-listed African Diamonds. Its shares eased 0.5p to 55.5p yesterday but market professionals believe disaffected shareholders, who control around 20% of the company, have approached rival Firestone Diamonds, 1p higher at 155.5p, with an offer to sell their shares.

African Diamonds and Firestone both have diamond projects in Botswana and also have joint ventures to develop their respective concessions with De Beers, the dominant player in the diamond industry.

Commenting on the rumours John Teeling, chairman of African Diamonds, said: "I have not been approached by Firestone but the speculation makes sense, given the value of our discoveries to date."


Cheers,
PM

"given the value of our discoveries to date"

AYE !!!!

Don't forget this is Teeling we are talking about the Doctor of spin.

Aldwick Hi,

It's good for the company ....

This either forces Firestone to make an offer, or secures the current status of the company, both good results.

Also De Beers (IMVHO) wanted Daniels and Scowcroft out, as they are the one's who grabbed De Beers licence areas from under their noses, and I think now that they are both out of the picture, the true discoveries in Botswana will come out, as you probably know how secretive De Beers can be when they want to, and they are the one's doing the exploration on AFD licence areas :)

Daniels and Scowcroft hated De Beers, and De Beers hated them, hence the disagreements mentioned by the Times, between those two and the other Directors, after the JV was signed with De Beers !

------------------------------------

The Times

July 24, 2005

Teeling faces battle for control of African jewels
Ciaran Hancock



JOHN TEELING, a veteran stock market investor, could be facing a battle to retain control of African Diamonds, an Irish exploration minnow with potentially valuable diamond licences in Botswana.
Firestone Diamonds, a UK-quoted mining company headed by the Irishman Philip Kenny, is believed to have held talks with two large shareholders of African Diamonds, one of whom is a director, with a view to acquiring their holdings in the company. Firestone is understood to have signed a letter of intent with at least one of these shareholders.



Firestone, which is debt free and well funded, is also understood to have approached another director of the company who rebuffed the approach.

Firestone, valued at 56m (38.8m), has three diamond mining licences in a neighbouring area of Botswana and, like African Diamonds, is involved in a joint venture deal with De Beers to bring its mines to production.

Kenny described this as pure market speculation and said his company had no interest in taking over African Diamonds. Informed sources, however, said Firestones aim was to take control of the board of directors, which is currently divided over the way the company is being run.

African Diamonds, which has a market capitalisation of 32m, has five directors. It is understood Teeling, Jim Finn and David Horgan, who are based at its head office in Clontarf would oppose a takeover.

The others are Jim MacGregor and Mark Scowcroft, an executive director based in Africa, who was integral in securing the Botswana licences. Scowcroft, who owns 10% of the companys shares, has clashed with Teeling over the way the company is run.

Teeling said: I have heard the speculation, which I take seriously but, to date, we have had no contact whatsoever with Firestone. As chairman of a public company with more than 1,000 shareholders we would listen to any proposal put to the company but our intention is to remain independent.

African Diamonds was set up by Teeling and floated on the Alternative Investment Market in London in July 2003. It holds a number of licences in the Orapa area of Botswana. Under the terms of its joint venture, De Beers will provide the finance and technical expertise to develop the mines while African Diamonds will receive 30% of any financial windfall.

look at my post 29.

Tanker Hi,

Wondered where you had got to !

What do you make of it now ?

Cheers,
PM

told you loads of money.i have allready retired. iam 56.

Don't ask, you only get a one liner reply like Watch it go to 1.

I retired at 47

i will be in africa. on 8-9 sept

aldwickk. I also tipped aex @ 9P they will be a 500p share in 2 years.

Tanker Hi,

I tipped AEX too, about 3 weeks ago, at 7.875p, and I agree with your long term view :)

AEX and AFD have been on my monitor for a couple of years, been in and out with profit on both twice before :)

Cheers,
PM

Hi All,

RE "Teeling faces battle for control of African jewels by Ciaran Hancock"

That article was from the Sunday Times, and I have just e-mailed both the RNS from yesterday to Ciaran, so maybe we will see a follow-up article in the Sunday Times this week :)

Cheers,
PM

Well Ciaran did do an article on AFD in the Sunday Times..very interesing!

The Sunday Times

August 28, 2005

Teeling feels African heat from Petra
Ciaran Hancock



JOHN TEELING, the Clontarf-based entrepreneur, is facing another battle to retain control of African Diamonds, a listed company with potentially lucrative diamond mining licences in Botswana.
Petra Diamonds, a London-listed mining company with operations in Angola, South Africa and Sierra Leone, is believed to have approached Mark Scowcroft and Leon Daniels, two Africa-based shareholders who between them own 18% of African Diamonds shares.



Petra, which has a market capitalisation of 92m (134m) and is headed by Johan Dippenaar, is believed to be interested in acquiring Kalahari Diamonds, an unquoted diamond explorer in Botswana, with ground close to African Diamonds licences in the Orapa area.

BHP, a mining giant, is a key shareholder in Kalahari and is also Petras joint venture partner in Angola. African Diamonds would offer potential synergies for the company. De Beers, African Diamonds joint venture partner, is likely to block such a move, given Petras links with BHP, one of its biggest rivals.

Scowcroft resigned as a director of African Diamonds, which has a market cap of 33m, on August 23, fuelling speculation that he might sell his stake in the company. As a director, he would be obliged to inform the board of any approach from a third party. Leaving the board allows him to talk freely to any interested party, but he may be obliged to give first option to De Beers.

On the day Scowcroft resigned, De Beers said it had asked the board of African Diamonds to implement one of the terms of its joint venture deal, under which each director is granted rights of first refusal to the mining giant if they choose to sell their shareholding. Scowcroft, who had a public falling out with Teeling earlier this year, could be bound by this.

Petras interest follows a similar approach from Firestone Diamonds, a UK-quoted mining company headed by Irishman Philip Kenny. Firestone, which also has diamond licences in Botswana, is believed to have held talks with Scowcroft and Daniels with a view to using their equity to gain control of African Diamonds board.

Teeling said: I am aware of the interest of Firestone Diamonds and of Petra.

The resignation of Mark Scowcroft was unfortunate because he was a very good geologist. Replacement specialists will be appointed within a short time. I would be concerned that there are predators out there who would like a slice of the Orapa discovery and that they would use Mark Scowcroft as the entry point.

takahe Hi,

Just shows what an E-Mail to the press can achieve :)

I wonder if Scowcroft or Daniels would sell their stock, and what price they would be offered, and what price they would accept ?

Cheers,
PM

Seems to be quite an interest in AFD. Some interesting stuff on the ADVFN thread, if you read that.
No idea what the price would be...love to be a fly on the wall for that one!

Up 3% today - anything stirring ??

Baza

.....now up 6% ?

Baza

Mmmmmmmmmmmmm - now almost 8% up - anyone any news ??

Baza

now 15% on little trading

Baza Hi,

Nothing here, but MM buys suggest they are expecting something, lets hope it's as good as PET news last week :)

Cheers,
PM

9513 are mine :)

Interested to hear TANKER's comment on the SP rise today

Hi All,

I would be interested to hear any reason for the MM buying today that started the price rise ....

Cheers,
PM

wel paul. i am in spain going nice. wait till end of month. rocket.

Tanker Hi,

MM buys yesterday, only 2 just to get the price up a bit, very quiet today, apart from a healty 50,000 buy at 70p, 35,000 is a lot to stick into something, unless you are expecting the price to go up real soon :)

Cheers,
PM

diamonds are punters dream thisis no dream

Tanker Hi,

Looks like it's a bit of a nightmare for traders anyway ....

Cheers,
PM

loking for big rise very soon.

Now I am sure you said exactly the same thing about a months ago !!!

Have a good weekend

Baza

read again i said it will start at the month end .

Tanker Hi,

Monday it is then !

Cheers,
PM

Firestone Diamonds PLC
05 October 2005


Firestone Diamonds plc

Acquisition of interest in African Diamonds plc


5 October 2005


Firestone Diamonds plc ('Firestone Diamonds' or the 'Company') today announces
that it has entered into an agreement to acquire a total of 4,879,220 ordinary
shares in African Diamonds plc ('African Diamonds'), representing approximately
7.28% of the issued share capital of African Diamonds.


The shares in African Diamonds are being acquired in exchange for new ordinary
shares in Firestone Diamonds, on the basis of one new ordinary share in
Firestone Diamonds for each 2.6 ordinary shares in African Diamonds. On 4
October 2005, the respective closing mid-market prices for Firestone Diamonds
and African Diamonds were 146p and 54p, respectively, giving a relative ratio of
2.7.


The Company regards the acquisition as a strategic investment and does not
intend to make an offer for African Diamonds.

do not sell.buy.

Tanker...are you expecting more news? I know that Petra were also interested in acquiring LD's and MS's shares..

African Diamonds PLC
07 October 2005

NOTIFICATION OF MAJOR INTERESTS IN SHARES



1. Name of company


AFRICAN DIAMONDS PLC



2. Name of shareholder having a major interest


FIRESTONE DIAMONDS PLC



3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18


2 ABOVE



4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them


2 ABOVE



5. Number of shares / amount of stock acquired


4,879,220



6. Percentage of issued class


7.28%



7. Number of shares / amount of stock disposed


N/A



8. Percentage of issued class


N/A



9. Class of security


ORDINARY SHARES OF 1 PENCE EACH



10. Date of transaction


07/10/2005



11. Date company informed


07/10/2005



12. Total holding following this notification


4,879,220



13. Total percentage holding of issued class following this notification


7.28%



14. Any additional information


N/A



15. Name of contact and telephone number for queries


JIM FINN - (353) 1 833 2833



16. Name and signature of authorised company official responsible for making
this notification


JIM FINN, COMPANY SECRETARY



Date of notification


07/10/2005




This information is provided by RNS
The company news service from the London Stock Exchange END

HOLUBUVRVWRRRAA

i do not know why they are holding back the news. must want more of our shares.

TANKER....what news?

action should have started now.

There is a bit of movement there today...
I hold AFD
What are you expecting?

tanker,

your news sounds interesting, care to elaborate?

You can always use the private message system here, by clicking on the yellow envelope icon next to a poster's name, and your details stay anonymous to the recipient.

20% freefall this week, any comment TANKER

Its not a freefall miners and oils have been weak all week if you see what i mean.

they are holding back for some reason.

TANKER- what good news are you expecting? The AK8 or BK results?

very good results on both.thanks

TANKER...I hope so..I've held them for 20months Why do you think he is holding them back? If he has predators at the door, you'd think he'd want the sp up, to deter them a bit.

no i think just sucking in some more stock cheap.?

TANKER...I was meaning why Teeling should be keeping the results back..

He would have to publish them under SE rules, price sensitive info.

starting to stir

750000. buy now it's stirring.

sure it's a buy? Over a few days, presumably...

it as not traded that many shares in 6 months

certainly looks like a buy over a few days. A new poster said he had bought in on Thursday because he had been given a hot tip to get in quickly

650000. buy well takahe.

just going to say the same! That's 1.4million in two trades...

well i am confident of these iting 120p very soon

120p!..that sounds good..what is that based on? A bid..or results?

annoucement must come soon .

going well

going well

Annoucement about what?

do you mean a bid?

FDI are up as well.

Well....and the answer is..a joint venture for AFD and FDI..and not much price increase so far
EDIT..Not a jv, apparently.. It was a hostile acquisition of L. Daniel's shares.

they are now offering 61p bid they must want our shares.

now 62.4

anybody got anything to say

Not in these guys but Shares Mag had a small write up expressing concern about increasing exploration costs and may have to go back to the market for fund raising. Hope that helps.

LOL

MS

Mickey , thats the article i hoped somebody would comment on and in addition all the small diamond miners seem to be out of favour and wondered why

To quote EK " A mine is a hole in the ground with a liar standing next to it". A bit strong but he has a point. I don't like investing in mining as most of them are a continent away with little information given. As well as being in some dodge countries with corupt governments. I don't feel in control. But I have to admit if you've got the balls you can make some serious money. If I were to invest in mining It would be in the FTSE100 and not small caps.

LOL

MS

your quotation from EK would probably apply to NML , re the FTSE 100 miners , bit late for investing i would say but for a steel balled trader they are OK

Good luck.

MS

yes here we go.

"Here we go" indeed. So glad I bought (ages ago), oh it's nice to be rich (well almost), what a pretty graph, so glad I'm a capitalist, etc. etc.

Must be top weekly riser so far this week,any views,debeers-fdi-afd,what a combination,JT is a genius.

This stock has held up remarakably amid all the carnage ..... I bought just below 1.00 back in March, but sold a couple of weeks later and thought I had done well ..... sp peaked around 180 but has only come back to 150, which shows remarkable stamina relative to virtually every other share, let alone minor-miners

Cynic, do you reckon the share price had held due to a potential target for a takeover? Its just that I have noticed a lot of major interest of share holdings activity has been happening lately.

No idea m8 ...... just been keeping an occasional eye on the stock

Cynic

The chart is looking rather interesting at the moment, do you think it is on a verge of a breakout?

At last... the long awaited positive little bounce today with more to come maybe!

The Telegraph carry an interesting article today!



SUNDAY TELEGRAPH



Botswana diamond project 'in the top 10'

By Edward Simpkins

(Filed: 09/07/2006)



African Diamonds, the Aim-listed gemstone exploration company chaired by John Teeling, is expected to announce this week that it has significantly upgraded the size of its find in Botswana and to say that it believes the resource could become one of the world's 10 largest diamond mines.

The company has a joint venture with De Beers, the diamond giant, which owns 51 per cent of the project and can acquire up to 70 per cent by funding the exploration work near to its existing mine at Orapa in Botswana.

The resource was discovered by a young De Beer's geologist, Mark Scowcroft, who left the company after failing to convince it that its geological models were incorrect. He applied for licences over the area and together with African Diamonds set up an exploration project on the site. De Beers was forced to buy back in when Scowcroft was proved correct.

Now, it seems that the resource, known as AK6, is even richer than had been thought. A drilling campaign and testing of rock samples by De Beers has revealed that the size of the kimberlite deposits, the volcanic rock containing diamonds, is much larger than estimated. It has also discovered that part of the deposit contains rare class two diamonds that are chemically pure and tend to be larger than ordinary stones. Both the 45-carat Hope diamond in the Smithsonian in New York and the Cullinan diamonds, part of the Crown Jewels, are class two gems.

The discovery of the stones is expected to raise the overall value of the proposed mine to around $150 per carat and production to an expected 1.5m carats per year. Under previous predictions, analysts had expected the mine to produce revenues of around $3.6bn (1.95bn) and attributed a value of $6 per share to African Diamond's shares. That figure is now expected to be revised substantially upwards.

The new geological model the miners are working from also indicates that there is a 50 per cent chance of making a further similar discovery nearby and drilling is expected to confirm that over the next few months.

The company's other diamond exploration assets in Sierra Leone and Guinea will be spun off into a company called West African Diamonds. African Diamonds' shareholders will receive shares in WAD on a four-for-one basis and the company is expected to be listed on Aim later this year when it will also raise money to bring two projects in Sierra Leone into production.



http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/07/09/cngems09.xml

thanks for the very interesting read Andy!

R88ave,

I think we will see some positive price action tomorrow!

Defo.....hopefully not just tomorrow..
How much do you think these shares will be worth once the production starts? Is there any other firm that is in production with similar size to compare?

Personally I think this firm has the potential to become a target for a takeover with the prospect of AK6 project. There are a few large share holders with the likes of Firestone Diamond, De Beers etc...

steadily rising quitely with large chunks of buy late today, I have notice this has happened on last two days....must be a good sign

as mentioned by some kind soul (no not you soul*!!), AFD may be worth looking at again ..... said person suggested a target price of 250p, but where he got that figure i do not know ...... however, it is indisputable that AFD has very productive deposits and i suspect the fall of sp from its high of about 175p has more to do with inertia and lack of new news than anything negative.

before diving back in (held them previously and took profit [too early!]), may wait until recovering above 200 dma, though current level looks reasonably well supported anyway

All quiet on this post

Some volume in recent days suggests at least a short term bottom. With what I think, from the recent reports and company web page, some more news on the detailed value of their main Kimberlite plus drilling news on nearby kimberlite. It could be a bottom as stock looks way too low on valuation of main find

60m tonnes of resource, 25 carats per 100 tonnes. Us$138/carat
It looks like co fully carried but will cut full holding to 30% by start

DeBeers interest shows quality of mine and if the stock gets much cheaper surely they will show an interest in taking it out

See a investment co -- Blackrock Inv --- takes 5% stake

Given size of AFD suggests co has done some NPV calculations on the main find and see plenty of upside at these depressed levels

Also looking through the shareholdere list noted the DeBeers holding, which supports my comment, re why DeBeers don't take this out if it really has upside exploraqtion potential and main fine clearly shows future cashflows will return big premium to shareholders.? Why did DeBeers buy the small stake ? Is it normal policy for them?

Well this one seems to have gone well, as usual I have no idea why

Well, this is almost a dream stock jumps c50% from lows in early Feb --- good for all. Now we are almost back to same level --- too good to resist

Behaving nicely -- good stock to trade as your always underpinned by the fact that its real value is probably north of 200p IMHO

wow! had forgoten about this share ..... what a terrifying roller-coaster of a chart

Not a thrill seeker eh cynic ??

Neither are DeBeers and they own 5% despite owning 51% of the main project.

Would expect them to want more at these levels too

my post of 27/9 makes interesting re-reading .... well i think so anyway!

not so sure I'm carrried away with it, cynic :-)

up it goes was that you cynic ? Not sure where that 200d MAV is myself must be somewhere around here ----- I'll have a look under the cushions on the sofa. 200d, 200d where are you, where are you.....

we have not got conrad black here have we ,it stinks a little.

i see that this company is still at same level as 4 years ago.
is that usless tealing still there you can not beleave a word he says

rumour DE BEERS to buy out afd

at the agm we were told 7 to 10 days for results of valuations of diamonds now 24 days on nothing TEELING SHOULD RESIGN

bad news always travels slowly

news very soon and it is going to be very good so looking to buy more good info

15th april and no RNs why has the market not been informed the last day to take up offer was yesterday . looking back de beers was only 2 days later and teeling went to the fsa what is the difference if no news by monday i will phone the FSA my self it is not good enough

New article, click HERE

TANKER, do you know anyone called rainfall?

Is there something wrong with A.DV,,,FN ?

Their web site has gone down the Swannee, taken a one-way trip to Palookaville.

buy out 120p

....