Three-Month Exclusivity Period For License Area Extended, Says Botswana Diamonds
May 05, 13
(IDEX Online News) – Botswana Diamonds says a Memorandum of Understanding with a private South African company announced in February which granted it a three-month exclusivity period to review available data on a license area has been extended until June 14. .jpg)
Botswana Diamonds Chairman John Teeling.
The counterparty holds an 85 per cent interest in the 13-license block located to the southwest of the Orapa region of Botswana.
Botswana Diamonds said is pleased with the results of its own evaluation. To confirm the findings, its joint venture partner in the Orapa area is, at the request of Botswana Diamonds, applying its technology to the initial analyses. The joint venture partner expects to have results by the end of this month.
John Teeling, Chairman, commented: "We are very pleased that our partner, a private South African company, has extended the Memorandum of Understanding on the 13 license blocks in the Gope region until mid-June.
“Our results so far are exciting but diamond exploration is high risk, so we have requested this extension to enable additional work be undertaken by the multinational partner working with us in Orapa. Our partner is using its unique technology to evaluate and corroborate our findings."