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Botswana Diamonds enters into agreement with Diamexstrat Botswana to fund exploration activities in Botswana
StockMarketWire.com
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Diamond explorer Botswana Diamonds said it had entered into a cooperation agreement with Diamexstrat Botswana to fund exploration of its prospecting licence assets in Botswana.
Under the agreement, Diamexstrat Botswana and its partner Burgundy, could earn up to a 70% interest in the company's Botswana Sunland minerals and Sekaka's prospecting licence.
For new Botswana prospecting licences, Diamexstrat Botswana and its partner Burgundy could also earn up to 70%.
Botswana Diamonds, meanwhile, would be able can earn a 15% interest in prospecting licences held by Diamexstrat Botswana and its partners, on the first US$1.5 million spent on exploration by Diamexstrat Botswana where the company's database assists in the discovery of a primary kimberlite.
Story provided by StockMarketWire.com
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