REG - Botswana Diamonds - Ghaghoo mine update

Botswana DiamondsAnnouncement

11/05/2022 07:01

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RNS Number : 0041L  Botswana Diamonds PLC  11 May 2022

11(th) May 2022

 

Botswana Diamonds PLC

("Botswana Diamonds", "BOD" or the "Company")

 

Ghaghoo mine update

 

The Board of Botswana Diamonds, the London AIM and BSE listed diamond
explorer, announces that, despite intensive advanced and ongoing discussions
with interested parties, the Board has been unable to secure a new joint
venture partner to acquire the Ghaghoo mine before the extended long-stop date
of 10(th) May 2022. The Share Sale Agreement (the "Agreement") with Gem
Diamonds Limited ("Gem Diamonds") for the sale of its wholly owned subsidiary
of Gem Diamonds Botswana Ltd ("GDB"), has therefore now lapsed.

Gem Diamonds have indicated their willingness to re-engage on substantially
the same terms as the Agreement if BOD and a partner can finalise an agreement
and accordingly, BOD is continuing its discussions with potential joint
venture partners.

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of
the European Union (Withdrawal) Act 2018. The person who arranged for the
release of this announcement on behalf of the Company was James Campbell,
Director.

 

A copy of this announcement is available on the Company's website, at
www.botswanadiamonds.co.uk (http://www.botswanadiamonds.co.uk)

Enquiries:

 Botswana Diamonds PLC

John Teeling, Chairman

                                        +353 1 833 2833
 James Campbell, Managing Director

                                        +27 83 457 3724
 Jim Finn, Director

                                          +353 1 833 2833
 Beaumont Cornish - Nominated Adviser     +44 (0) 020 7628 3396

Michael Cornish

 Roland Cornish
 Beaumont Cornish Limited - Broker        +44 (0) 207 628 3396

Roland Cornish

 Felicity Geidt
 First Equity Limited -  Joint Broker     +44 (0) 207 374 2212

Jason Robertson

 BlytheRay - PR                           +44 (0) 207 138 3206

Megan Ray

Rachael Brooks                          +44 (0) 207 138 3553

 Said Izagaren                            +44 (0) 207 138 3206

 Naomi Holmes                             +44 (0) 207 138 3206

                                          +44 (0) 207 138 3206
 Teneo

 Luke Hogg                                +353 (0) 1 661 4055

 Alan Tyrrell                             +353 (0) 1 661 4055

 Ciara Wylie                              +353 (0) 1 661 4055

 

www.botswanadiamonds.co.uk (http://www.botswanadiamonds.co.uk)

 

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

 

ENDS

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