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

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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
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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.