AfDiamonds raises stake in AK6

Tuesday, April 27, 2010

BSE-listed African Diamonds has increased its stake in AK6 mine after paying US$8 million (P56 million) to Lucara and Wati Ventures.

In a statement released last Friday, the company says it has exercised its option to increase its stake to 40 percent from 28 percent in the AK6 diamond deposit for a total cash consideration of US$8 million.

The remainder of the equity in AK6 is held by Lucara Diamond Corporation, the company notified an update on the AK6 resource on 30 March 2010. Commented the Chairman, John Teeling:

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AfDiamonds raises stake in AK6

BSE-listed African Diamonds has increased its stake in AK6 mine after paying US$8 million (P56 million) to Lucara and Wati Ventures.

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Serowe man 'loses' P1m in trading

Inspect the voters' roll!