African Diamonds Share Discussion Threads

[rainfall] 07/10/2010 10:53

mc good luck but remember times are going to get hard for a lot of folk round the world , but best of luck .

[mclellan] 07/10/2010 10:49

rainfall- I should really buy more here at about 39p if it is going to be worth 51p very soon.

[vikramarahaji] 07/10/2010 10:11

cc

No I was assuming 70p would be cash paid by LUC for whole of AFD. LUC shares are approx 55p. Simple maths.

[rainfall] 07/10/2010 10:10

mc i wish all holders of afd well and good luck .but buy in to skr for a quick profit in 2 weeks they will be double read about them for your selves very good news coming.

[mclellan] 07/10/2010 10:03

rainfall- no, I don't miss your point at all
You are just back to deramp.
keep up the work for your Bafta...lol

[chapchip] 07/10/2010 10:02

VIk, but then you lose BE...and who knows what they may be able to pull out if that hat.......

AFD went 7p to £1.80

BE could go 7p to ??

[rainfall] 07/10/2010 10:01

asian countrys need to grow more food not buy diamonds and gold .
that is why i have bought in to SKR they will need there product .
take a look .

[rainfall] 07/10/2010 10:00

mc you are missing the point .the rich are going to be it hard in asia .they are broke

[mclellan] 07/10/2010 09:55

rainfall- since you have sold out, you don't have to worry about it.
Gold is at an all time high, by the way.

[rainfall] 07/10/2010 09:49

asia are having big problems do not think the people will have cash to buy gold or diamonds in 9 months

[vikramarahaji] 07/10/2010 09:40

CC

I would take cash for 70p and then buy LUC but then again I appear smarter than some of you lot.

[chapchip] 07/10/2010 09:37

vikram...you need to balance that with what we are getting in return........would i rather LUC paper at 51p and the chance to double that going forward in production plus the BE spin off

OR

or cash offer for 70p total.

Id take LUC paper

[chapchip] 07/10/2010 09:34

thats very unusual hatto...normally anything over 5k send the system haywire

[hatto] 07/10/2010 09:31

Online with Selftrade you can....

Sell 50,000 @ 38p

Buy 50,000 @ 38.5p or Buy 100,000 @ 38.75p

[mclellan] 07/10/2010 09:23

African Diamonds shareholders win in three ways if the transaction is successful, according to Teeling.
1) They will hold an indirect stake in AK6 - the 26,57% holding in Lucara is close to the stake in AK6 held prior to the De Beers takeout
2) they get 26,57% of the Lucara interest in the high diamond value Mothae mine in Lesotho
3) they will get 100% of Botswana Exploration


Botswana Exploration would hold all the interests of African Diamonds apart from AK6. These interests include cash, currently at $2,9-million, exploration ground in Botswana, including AK8, AK9 and BK5, advanced-stage diamond licence applications in the Marange area of Zimbabwe and licence applications in Cameroon and indirect exposure to diamond plays in West Africa and the Democratic Republic of Congo.

[mclellan] 07/10/2010 08:56

Morning eddie- at least we are not stuck out on the bundu with DeBeers keeping the AK6 project on hold for years.

rubstone- if you are around, what do you make of the offer from Lucara?

"the offer values each AFD share at 51p. "...from the RNS

[undecided] 07/10/2010 08:48

Hi Eddie. Have to disagree with you on that one. Thought AK6 on it's own was the undervalued asset without the Mothae mine being the significant part of the deal. I think we continually look for excuses for Teeling when really we should rely on the deal that he physically done valuing our shares at .445p (left out the nought) for AK6. Mothae might well be mine that we all hope it is but like AK6 that is something only time will deliver. By the way was at the Monaghan V Longford game and went to the Sligo V Monaghan final. You must be developing a nosebleed being so high in the 1st Division. Do you know Colm and the boys up there?

[eddieohare1] 07/10/2010 08:34

My opinion is that Teeling has pulled a great one off here but that is only my opinion! We have now two world class mines and we r goin to start reaping the rewards in the last quarter!

[cocorico2009] 07/10/2010 08:23

All diamond recovery units are functioning well and provisional audit work on x-ray tailings indicates a high level of recovery efficiency which was a key object of the plant upgrade.

A 53.3 carat, Type lla diamond was recovered in the first week of processing. Diamond grades for the material processed to date have been consistent with material processed during previous treatment of the Mothae kimberlite material.

[eddieohare1] 07/10/2010 08:19

I think this is highly significant and people seem to be missing this out:

Lucara Produces First Diamonds From Mothae Mine in Lesotho

Lucara Diamond Corp. ("Lucara" or the "Company") (TSX VENTURE: LUC) is pleased to announce that diamond production has commenced from the Company's Mothae mine in Lesotho.

Mining operations commenced in late May establishing kimberlite stockpile feed for the diamond recovery plant. Planned upgrades to this plant have been completed on time and within budget. Plant commissioning is underway with the process feed rate expected to ramp up to design capacity of 30,000 tonnes per month within the next 30 to 45 days.

All diamond recovery units are functioning well and provisional audit work on x-ray tailings indicates a high level of recovery efficiency which was a key objective of the plant upgrade.

Mr. William Lamb, President and CEO, commented, "This is a major milestone for the Company. The diamond information which will be collected during the trial mining phase is essential for Lucara as we drive Mothae forward. The progress which has been made is a testament to the excellent work done by our team in Lesotho. We are looking forward to realizing the value of the Mothae diamonds when we have our first tender in the fourth quarter of this year."

The contents of this release have been reviewed and verified by Dr. Larry Ott a professional geologist and Lucara's V.P. Exploration, and by Mr. Anthony George, P. Eng, a mining engineer and Lucara's V.P. Development, both of whom are Qualified Persons pursuant to NI 43-101.

Lucara is an African focused diamond production company with currently two mines under development: the newly commissioned Mothae mine in Lesotho and the AK6 project in Botswana. Both projects are known for their large, high-quality, high-value diamonds including Type IIA stones produced from the Mothae mine.

On Behalf of the Board,

William Lamb, President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Lucara Diamond Corp.

Sophia Shane

Corporate Development

[phone]

[phone] (FAX)



LUCARA ARE "....looking forward to realizing the value of the Mothae diamonds when we have our first tender in the fourth quarter of this year."

[cocorico2009] 07/10/2010 07:58

Lucara Diamond Corp. is an African focused diamond exploration and development company. The Company is building a portfolio of advanced staged diamond assets with a view to become a leading mid-tier African producer. Lucara is a member of the Lundin Group of Companies and is listed on the TSX Venture Exchange under the symbol "LUC". Lucara continues to evaluate projects throughout Africa for possible earn-in or acquisition