Botswana Diamonds PLC Ghaghoo mine update (0041L)

TIDMBOD

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

Enquiries:

 
Botswana Diamonds PLC 
 John Teeling, Chairman                  [phone] 
 James Campbell, Managing Director       [phone] 
 Jim Finn, Director                      [phone] 
Beaumont Cornish - Nominated Adviser 
 Michael Cornish 
 Roland Cornish                         [phone] 
Beaumont Cornish Limited - Broker 
 Roland Cornish 
 Felicity Geidt                        [phone] 
First Equity Limited - Joint Broker 
 Jason Robertson                       [phone] 
BlytheRay - PR                         [phone] 
 Megan Ray                              [phone] 
 Rachael Brooks                         [phone] 
 Said Izagaren                          [phone] 
 Naomi Holmes                           [phone] 
Teneo 
 Luke Hogg                               [phone] 
 Alan Tyrrell                            [phone] 
 Ciara Wylie                             [phone] 
 

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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May 11, 2022 02:00 ET (06:00 GMT)