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Botswana Diamonds PLC - exploration & project development company focused on Botswana and South Africa - Says the results of a conceptual open pit mine optimisation evaluation on the River Blow on its Thorny River property in South Africa indicate potential open pit options. Says the mine is likely to be commercial assuming mid-range diamond values of $170 per carat, a 10% discount rate, a recovered grade of 40 carats per hundred tons, and 1.7 million tons of kimberlite mined.
‘The purpose of this exercise was to determine whether there was commercial potential in the Thorny River discoveries. The conceptual open pit evaluation shows that even at low revenue factors the kimberlite is potentially commercial when applying current industry-standard mining and processing costs. This exercise will be updated following drilling on the adjacent high priority targets,’ Managing Director James Campbell comments.
Current stock price: 1.10 pence, down 6.4% on Monday
12-month change: up 18%
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