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African Diamonds (AFD)     

jfwinvestments - 05 Oct 2004 15:12

http://www.afdiamonds.com/

graph.php?epic=AFD


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


wilbs - 23 Jun 2005 07:38 - 20 of 153

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

IanT(MoneyAM) - 23 Jun 2005 07:39 - 21 of 153

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

aldwickk - 23 Jun 2005 07:43 - 22 of 153

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

wilbs - 23 Jun 2005 07:44 - 23 of 153

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

aldwickk - 23 Jun 2005 07:47 - 24 of 153

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


wilbs - 23 Jun 2005 07:48 - 25 of 153

Nice one Aldwick.

aldwickk - 23 Jun 2005 07:51 - 26 of 153

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

wilbs - 23 Jun 2005 07:52 - 27 of 153

You clever thing you.

mbugger - 23 Jun 2005 19:34 - 28 of 153

RNS at last -good,thats better.

TANKER - 16 Aug 2005 14:32 - 29 of 153

we will be off very soon . loads of money.

stockdog - 16 Aug 2005 15:06 - 30 of 153

Love the in depth research Tanker, as ever!

sd

TANKER - 17 Aug 2005 09:48 - 31 of 153

just watch.

takahe - 17 Aug 2005 10:32 - 32 of 153

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

aldwickk - 17 Aug 2005 19:25 - 33 of 153

TANKER...why have they gone down today ?

TANKER - 18 Aug 2005 09:50 - 34 of 153

just watch. and learn.

TANKER - 18 Aug 2005 09:50 - 35 of 153

just watch. and learn.

mbugger - 20 Aug 2005 18:12 - 36 of 153

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.

stockdog - 20 Aug 2005 23:48 - 37 of 153

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

paulmasterson1 - 23 Aug 2005 16:16 - 38 of 153

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.


paulmasterson1 - 23 Aug 2005 18:21 - 39 of 153



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

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