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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The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...

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