Last checked at 11 May 2022 07:00
11th 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 10th 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
Enquiries:
Botswana Diamonds PLC John Teeling, Chairman James Campbell, Managing Director Jim Finn, Director |
+353 1 833 2833 +27 83 457 3724 +353 1 833 2833 |
Beaumont Cornish - Nominated Adviser Michael Cornish Roland Cornish | +44 (0) 020 7628 3396 |
Beaumont Cornish Limited - Broker Roland Cornish Felicity Geidt | +44 (0) 207 628 3396 |
First Equity Limited - Joint Broker Jason Robertson
| +44 (0) 207 374 2212 |
BlytheRay - PRMegan RayRachael Brooks Said Izagaren Naomi Holmes | +44 (0) 207 138 3206 +44 (0) 207 138 3553 +44 (0) 207 138 3206 +44 (0) 207 138 3206 +44 (0) 207 138 3206 |
Teneo Luke Hogg Alan Tyrrell Ciara Wylie |
+353 (0) 1 661 4055 +353 (0) 1 661 4055 +353 (0) 1 661 4055 |
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