Increase in stake in AK6

 

TIDMAFD 
 
RNS Number : 6509K 
African Diamonds PLC 
22 April 2010 
 
 
 
 
22nd April 2010 
                  African Diamonds plc ("AFD" or the "Company") 
    African Diamonds plc increases stake to 40% in the AK6 diamond discovery 
 
 
Further to the Company's announcement of 6 April 2010, African Diamonds plc 
(AIM: AFD) is pleased to announce that it has exercised its option to increase 
its stake to 40% in the AK6 diamond deposit for a total cash consideration of 
US$ 8 million paid to Lucara Diamond Corporation and Wati Ventures Pty Ltd. 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. 
 
John Teeling, Chairman commented: 
"This is another significant step on the road to becoming a significant diamond 
miner. By the end of 2011 African Diamonds should begin to see a flow of up to 
400,000 carats per year with a value of up to US$200 per carat once full 
production is reached." 
 
This release has been approved by Alex van Zyl, Technical Director African 
Diamonds. Alex van Zyl (B.Sc. Stellenbosch, B.Sc. Hons. Pretoria) spent a long 
career in Anglo American in the diamond division, ending up 1990 to 1997 with 
worldwide responsibility for diamond exploration and evaluation. He was a 
consultant to De Beers from 1997 to 2002. 
 
Further information: 
African Diamonds Plc 
John Teeling                                                             Tel: 
[phone] 
James AH Campbell                                               Tel: [phone] 
3724 
Finn Cap 
Matthew Robinson, Corporate Finance        Tel: [phone] 
Henrik Persson, Corporate Finance 
Joanna Weaving, Corporate Broking 
College Hill 
Nick Elwes                                                                Tel: 
[phone] 
 
                               www.afdiamonds.com 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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