African Diamonds PLC
23 January 2004

AFRICAN DIAMONDS plc

Contacts:

John Teeling, Chairman Tel: +353 87 2581178

Jim Finn, Director Tel: +353 86 2581178

Redleaf Communications

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

www.afdiamonds.com
23rd January 2004

AGM STATEMENT AND TRADING UPDATE

The following highlights will be announced by the Chairman of African Diamonds
plc, John Teeling, at the company's Annual General Meeting, which is due to be
held at 12.30 pm today.

Production

African Diamonds will be producing gem quality diamonds within 8 weeks.

The 240 ton a day pilot mining plant on Pipe 3 in Koidu, Sierra Leone will
be operational in March. Initially we will process 10,000 tons to establish
the grades.

We have high hopes for this plant. The new DiamondWorks mine on Pipes 1
and 2, three kilometres away, is reporting outstanding grades of 67 carats
per hundred tons, as well as finding 25 plus carat stones. Koidu produces
some of the highest quality diamonds in the world. Pipe 3 has every chance
of becoming a high grade commercial mine.

At Kolo, in Lesotho, production will commence on our 55% owned joint
venture, in the 2nd quarter of this year. Initially a total of 30,000 tons
will be mined, from which we expect to recover 5,000 carats including some
large stones. This too is expected to continue into full commercial
production.

Drilling results

We are getting spectacular results from our kimberlite dyke mapping
and sampling programme in Sierra Leone. So far we have mapped 11.5 kilometres of
dykes averaging 1 metre wide. Early stage analysis suggests grades of 1 carat
per cubic metre. Our neighbour, Mano River Resources is finding similar results
on an adjacent licence. If confirmed we have the potential for a mine of high
quality.

In March we will report detailed results from our drilling programme
on 5 kimberlites on our Orapa Licence. We already reported the discovery of two
high quality diamonds from pipe BK10. More will emerge from the detailed
analysis. Expectations at this time are to move to trial mining on BK10.

The search for the lost Orapa alluvial diamonds continues. The 42 holes drilled
in Serowe Botswana are being analysed. We know that we have found river
channels. We are now looking for Orapa gravels and diamond indicators in the
channels. Follow up work will continue during the year to look for Plunge Pools,
which may hold large, gem quality stones. This project has the potential to be a
company maker.

An extensive sampling programme is underway on our three Guinea alluvial
licences. By midyear we will have a resource estimate on the Bomboko and Seria
licences. We have already recovered diamonds from this area.

Corporate

We are at an advanced stage in negotiating an exploration joint
venture on certain of our properties. I hope to make an announcement shortly.

We are also at an early stage in discussing possible joint activities
with a diamond-mining partner.

The funds we received last year will last until June. We have been
offered funding for our on going work but we are reluctant to issue shares at
present prices given the expected flow of good news.

Conclusion

We have had a very good first year as a listed company. It is difficult to
rank the prospectivity and value of our various properties but the
spectacular grades being obtained around us in Sierra Leone offer massive
upside.

We are very well placed with an excellent portfolio and growing interest
in our company.

African Diamonds is a diamond exploration company traded on the AIM market.
Ticker symbol (AFD)

aldwickk,

Ok, but is it the same rumour from the same source, or did they source it independently?

IMHO, until it's hard fact, it remains a rumour!

good luck if you hold.

Could be big news out in the morning. (so I am told)

GF.

Hi.

Are everyone as suprised as me regarding the share price response to todays interim news. We are holding shares that must surely have huge upside potential, todays news was surely good. I really thought we would see a major gain, certainly a spike around 90 like before.

Does anyone have any ideas???

i keep hearing people talking about african diamonds. looking at the chart i am not able to conclude if this is a good buy or not because of the lack of trading years but analysts seem to think this is a great buy. i assume they are going by knowledge of the company and accounts. can someone enlighten me as to why this is such an eager buy and why certain people are talking about this company so much?

thanks

javid

I think Afr. Dia. are suffering because of the huge spike we saw in feb. Every time they have good news people will be worried they have missed the boat when the price rises and may be inclined to wait for the drop. Regardless of this they seem to have generally good newsflow and I assess are definately worth following. I am holding for now to my stock. Its a risky area because of the current speculation in mining but there is definately good potential there.

African Diamonds seems very dead at the moment. In fact the whole market is flat. I really thought March would see an increase, followed by April, but here we are, diddelysquat.
However, deep inside the dark continent, AFD are busy setting up their first mining operations, due to start this month. If their release of good news coincides with a brightening marketplace, I'm sure we'll all be smiling again!
Good luck all.

Still no news if anyone has any news of AFD please let us know.

Is this good or is it great?????



African Diamonds PLC
22 April 2004

African Diamonds partners with De Beers in Botswana

African Diamonds (AIM: AFD) and De Beers have signed an agreement to establish a
joint venture company to explore for, and if successful, develop new diamond
mines in Botswana. The agreement, which is subject to the approval of the
relevant authorities, covers the current African Diamonds licences in the
country, as well as certain De Beers licences in the Orapa area. There are 29
known kimberlites on these licences of which 21 are located within the African
Diamonds licence area. De Beers has an extensive database relating to the
geology of the Orapa area, as well as specific information relating to the
kimberlites and recent geophysical work suggests that certain of these may be
larger than previously thought. This information will be made available to the
joint venture company and a detailed intensive work programme managed by De
Beers will commence immediately.

The initial focus of the work will be on specific highest potential targets
among the kimberlite pipes on the licences around Orapa. Work on the 1,000 sq km
licence north of the Orapa mine will commence in 2004 by airborne and ground
geophysics and by the use of exploration techniques exclusive to De Beers. A
similar programme is planned for the Serowe licence currently held by African
Diamonds, 120 km south east of Orapa. Work done to date by African Diamonds has
indicated the possibility that new undiscovered kimberlites may exist at Serowe.
Advancing this project to kimberlite discovery the focus of exploration efforts
in 2004.

Ownership of the joint venture will initially be 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.

John Teeling, Chairman of African Diamonds said, 'This is an outstanding
opportunity for African Diamonds. We know that we have good ground in Botswana
and our exploration to date has produced a number of specific targets. As a
result, we had interest from a number of potential partners, but none can match
De Beers. They have unrivalled knowledge of diamonds and a wealth of exploration
data built on forty years experience and commitment to Botswana. Their
exploration expertise is the most advanced in the world and they have large full
time exploration teams on the ground. African Diamonds management team will be
actively involved in the programme on a consultancy and advisory basis. The
Serowe and Orapa north licences will be explored with De Beers proprietary
cutting edge technology and with the use of specialist airborne techniques such
as Bell Geosystems.

We believe that our ground has the potential for large gem quality mines - and
they will be the targets of our joint venture.

The potential in Botswana, already the worlds leading gem quality diamond
producer, is immense. We are fortunate to have obtained excellent ground on
which we have good exploration results. We now have a partner with the resources
to realise the potential on our licences. This combination offers an exciting
future'.



Contacts:

African Diamonds Plc

John Teeling Tel: +353 1 833 2833

Mark Scowcroft Tel: +27 (11) 447 4997



Redleaf Communications

Nick Lambert Tel: +44 (07811) 358 764



Rowan Dartington

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



www.afdiamonds.com


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


Hopefully this is the catalyst we have been waiting for.

afr diam. look to now be in a position to capitalise on their potential. i suspect that if de beers are involved, their projects must be very promising.

All my chart indicators say YES.Although could fall back a touch before sailing upwards beyond 75p any fall back being a buying opportunity so sellers beware.

TB^^,

AFD MAY be a buy, but they are still looking for diamonds rather than producing them!

De Beers are a highly respected diamond company, but they are also only using this JV to prospect rather than actually mine any diamonds.

Clearly there is potential here, but until we see the value of the stones, it is simply potential.

The cuurent market cap is OVER THREE TIMES HIGHER than, for example, Firestone Diamonds, a diamond PRODUCER, also with prospects in Botswana at Mopipi, as well as prospecting and producing mines in S. Africa itself.

I see a number of small sells but some sizable buys coming through.
It looks as if the "people who know " are jumping on board

BLUE DAY FOR AFD ATLAST UP 19% TODAY,LOTS OF BUYS IN THE LAST HALF HOUR.

ateeq180,

yes a huge jump in price, so someone thinks they know something!

Tomorrow could be interesting.

ANDY I THINK AS AFD HAS DONE SO WELL IN THE PAST 6 MONTHS,AND AS I REMEMBER I THINK YOU MENTIONED THIS STOCK LAST YEAR WHEN IT WAS ONLY 7P,AND STILL LOOKS TO BE A GREAT INVESTMENT.WHATS YOUR OPINIONS ON NML,DO YOU BELIEVE THEY COULD BE THE NEXT AFD.

Hi ateeq, NML looks exciting and the jigsaw is coming together now, I believe.

IMHO on reasearching I am well happy to be in at this time.

I think AFG news is coming real soon...

The fund raising now complete at a price of 36p.
http://moneyam.uk-wire.com/cgi-bin/articles/200406080730024751Z.html

That should put a floor under the price & hopefully a good lift over the next few weeks, which has already started. Of course if the price moves quickly some of the new entrants will want to take profits putting a brake on any rise.

Any good news should provide some impetus, things have been very quiet recently, probably because of the fund raising in the background.

Fly by Night

Red

Any good news and these will spike at 70p+.I was very lucky to sell at 71p last time on the de beers news.

It is now half price - 35p