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[euclid] 07/10/2010 00:12

Extract from NI43-101 document:-

"The discovery of The AK6 kimberlite was part of the same exploration programme that discovered the Orapa kimberlite (named AK1) and the Letlhakane kimberlites (DK1 and DK2), in addition to some 25 other kimberlite intrusions.
De Beers Botswana Mining Company (the predecessor of Debswana) held State Grant
(SG) 14/72 from 16 September 1972 until 15 December 1975. Under the grant, De Beers carried out evaluation and the delineation of kimberlites discovered previously. In addition they carried out reconnaissance and detailed soil sampling.
Little data from the initial discovery and evaluation of the AK6 kimberlite is available, but it is known that the discovery was made from the interpretation of an aeromagnetic survey.
The kimberlite was delineated with 44 percussion boreholes, 20 of which were recorded as intersecting kimberlite and 24 as intersecting basalt. De Beers interpreted the AK6 kimberlite to have an area of 3.3 ha and three 20 ft deep pits excavated in 1973 gave a grade of 0.07 ct/m3 (approximately 3.5 ct/100t)."

"De Beers released the project into a joint venture, along with a number of other kimberlite occurrences in April 2004. Detailed exploration between 2004 and 2006 resulted in the application for a mining permit in 28th September 2007 by Boteti Exploration (Pty) Ltd, which was at that time a joint venture between De Beers (70.3%), African Diamonds plc (28.3%) and Wati Ventures (1.4%). ML2008/6L AK6 was granted on 28th October 2008, valid for 15 years, with a requirement for production to commence by April 2011."

[andy] 06/10/2010 23:14

Euclid,

I agree, but my question was who discovered it?

It can't have been De Beers, or else they wouldn't have put it into a JV with a mining junior.

I think the discovery was done by Leon and Mark.

[varrirob] 06/10/2010 22:57

Is there any reason why the new exploration company won't get approval onto the AIM listing? Is it something that should happen. I am ok with things as they stand, my only concern is if the proposal gets rejected.

[yarisverso] 06/10/2010 18:11

VikramArahaji - 6 Oct'10 - 14:54 - 13586 of 13591

I do not honestly think there will be any more offers pro tem.

Who cares what you think anyway? Keep your thoughts to yourself, there's a good boy.

[euclid] 06/10/2010 17:16

True. It makes me wonder all over again why they went into the JV in the first place?

[chapchip] 06/10/2010 17:13

LOL, DEB are pretty good at giving away mines.....FDI are now or soon to be mining BK11

[euclid] 06/10/2010 17:04

AK6 was contributed to the JV by DeBeers, along with BK11.

[andy] 06/10/2010 16:44

tanelorn - 6 Oct'10 - 12:33 - 13556 of 13587

Leon and Mark had a hand in it's dicovery didn't they?

I thought De Beers discarded it, and then they made the discovery?

Willing to be corrected of course.

[vikramarahaji] 06/10/2010 14:54

I do not honestly think there will be any more offers pro tem.

[euclid] 06/10/2010 14:13

The theory in the press at the time was that it was GEMD.
Ironically, I see that Minesite are now suggesting that LUC is also a candidate to take out GEMD.

[the_curmudgeon] 06/10/2010 14:07

Arf Dysg - 6 Oct'10 - 13:11 - 13565 of 13582

exactly. imho lucara would not have released a bid like that. they would have sat down with AFD, which is what they did do. imho that first approach was a different bidder, and often on the AIM where there's smoke there's fire so i would guess GEM Diamonds. the question for me now is whether they will look at 44p and go higher. i think they would be mad not too.

the c

[arf dysg] 06/10/2010 14:03

euclid, I was thinking about whether or not it was LUC who made the original "unsolicited proposal" of an offer in August, prompted by something the_curmudgeon said.

If the original proposal in August wasn't from LUC, I imagine that they would come back soon. Perhaps we should ask AFD.

[rainfall] 06/10/2010 13:43

sorry vik .now i am signing off tilltomorrow

[mclellan] 06/10/2010 13:43

rainfall- it just sounds like it in your last post. I hope you haven't.
I have met JC a few times at AGMs. He is a very able, pleasant chap.
Good luck to you with your investments.

[vikramarahaji] 06/10/2010 13:42

rainfall

Even though you have called me a rather nasty name in one of your posts I wish you good luck.

[rainfall] 06/10/2010 13:38

mylast post for good .. i do not know who this muppet pj is
but i will say this i am only posting under RAINFALL. i do not no who these other posters are ADVFN SHOULD BAN PJ for such comments bye and good luck too you all going down to the bar. mc where have i turned againts JC I HAVE NOT

[vikramarahaji] 06/10/2010 13:36

That the best you can muster. How sad to be so intellectually challenged.

[mclellan] 06/10/2010 13:26

Get lost, Vikram.

[euclid] 06/10/2010 13:25

Sorry Arf, I think you may have been talking about something else.

[vikramarahaji] 06/10/2010 13:25

mcl

Just who am I pretending to be? Get real please before you trip over your ego.

[mclellan] 06/10/2010 13:24

Vikram...lol...I am not remotely arrogant. I don't like people who pretend to be someone else, though.
I've known a lot of the people here for a long time and they know me.

[euclid] 06/10/2010 13:24

Arf - the offer is still for the whole company. Botswana Exploration is being given back to us as part of the consideration.

"The consideration is .80 of a Lucara share plus 1share in Botswana Exploration plc for every 1 share in AFD."

[vikramarahaji] 06/10/2010 13:22

mcl

You are too arrogant to be worthy of taking any notice of.