Botswana Diamonds plc explores for diamonds in Botswana, South Africa, and Zimbabwe. They use a prospect generator model to leverage their expertise and acquire early stage projects. Their portfolio includes joint ventures in Botswana and South Africa. In Botswana, they have identified geophysical anomalies and kimberlitic indicator minerals. In South Africa, bulk sampling is planned at the Thorny River project which shows commercial potential based on preliminary studies. Political risk has lowered in Zimbabwe and South Africa, improving their attractiveness for diamond exploration.
- The company acquired Sekaka Diamonds from Petra Diamonds, gaining a kimberlite pipe with an indicated resource in Botswana, along with exploration data and licenses.
- Progress was made developing the Marsfontein and Thorny River projects in South Africa through drilling and sampling.
- The company intends to restart operations in Zimbabwe through partnerships.
- The company focuses on the Kaapvaal craton in southern Africa, which is highly prospective for diamond discoveries due to its geology and history of production.
Brokers Note on Botswana Diamonds plc published by First EquityJames AH Campbell
Botswana Diamonds plc (BOD) is a mining exploration company focused on diamond projects in Botswana, South Africa, and Zimbabwe. It has interests in several key projects including Ghaghoo (10% interest), KX36 (100% interest), and Thorny River (76% interest). The analyst estimates Botswana Diamonds' enterprise value at £48.7m based on risk-adjusted valuations of Ghaghoo at £36.1m and KX36 at £29.5m, with Thorny River still to be determined pending a resource model. The report recommends buying Botswana Diamonds shares based on significant upside potential from its project portfolio.
- The Ghaghoo Diamond Mine in Botswana has a mining license until 2036 and full mining infrastructure including a 60,000 ton per month processing plant.
- Vast Resources PLC is acquiring a 100% interest in the mine for $4 million through a joint venture with Botswana Diamonds PLC.
- The mine has produced diamonds in the past and has the potential to profitably recover high-value fancy colored diamonds from its resource of over 100 million tons grading around 19 carats per hundred tons.
Mining Review Africa article on Botswana Diamonds plc Dec 2018James AH Campbell
Botswana Diamonds has entered into an agreement with Vast Resources to jointly develop and explore the Marange Diamond Fields in Zimbabwe. This partnership aims to unlock the diamond value in the fields and establish sustainable mining practices. Botswana Diamonds and Vast Resources bring extensive experience exploring for diamonds in Zimbabwe and surrounding countries. Their initial work has outlined the potential for modern and older diamond deposits within a 15 square kilometer concession block. Subject to positive results from ongoing field work and sampling, the partners intend to progress to a trial mining program by the end of 2019 to further evaluate the resource potential.
Modern Mining April 2020 article on Botswana Diamonds plcJames AH Campbell
Botswana Diamonds plc (BOD) is a junior diamond exploration company led by experienced explorers. BOD deems southern Africa, especially Botswana, South Africa, and Zimbabwe, to be highly prospective for diamonds. BOD has expanded its exploration portfolio in Botswana with new licenses and has identified targets through geophysics and sampling. In South Africa, drilling on the Marsfontein project intersected kimberlite and a bulk sample was collected. BOD also has interests in Zimbabwe through a joint venture and is awaiting license approval to begin exploration.
Northland Capital Partners Botswana Diamonds plc H2 2018James AH Campbell
Botswana Diamonds is a diamond exploration company focused on projects in Botswana, South Africa, and Zimbabwe. During the second half of 2018, Botswana Diamonds expects to deliver results from exploration programs across its projects. These include analyzing kimberlite indicator minerals from Botswana and South Africa to assess diamond potential, monitoring potential sale of the Maibwe project in Botswana by a liquidator, and initial work on a recently acquired project in South Africa. Botswana Diamonds aims to advance its portfolio of early-stage projects by seeking to define kimberlite resources and diamond values through exploration.
This document provides information on Botswana Diamonds plc, including its directors, business address, registered auditors, and other company details. It also contains the chairman's statement and managing director's statement, which discuss the company's operations in Botswana and South Africa, its joint ventures, ground holdings and approach to diamond exploration. The company focuses on identifying new diamondiferous kimberlite opportunities through partnerships and leveraging its experience in Africa.
Cairn India is an oil and gas exploration and production company based in India. It has a diverse portfolio of assets across their lifecycle in India, Sri Lanka and South Africa. In the coming years, Cairn plans to invest $3 billion to increase production primarily through exploration and development in the Rajasthan block in India, where it has significant remaining potential. It aims to deliver production and reserves growth while maintaining its strong financial position and shareholder returns.
- The company acquired Sekaka Diamonds from Petra Diamonds, gaining a kimberlite pipe with an indicated resource in Botswana, along with exploration data and licenses.
- Progress was made developing the Marsfontein and Thorny River projects in South Africa through drilling and sampling.
- The company intends to restart operations in Zimbabwe through partnerships.
- The company focuses on the Kaapvaal craton in southern Africa, which is highly prospective for diamond discoveries due to its geology and history of production.
Brokers Note on Botswana Diamonds plc published by First EquityJames AH Campbell
Botswana Diamonds plc (BOD) is a mining exploration company focused on diamond projects in Botswana, South Africa, and Zimbabwe. It has interests in several key projects including Ghaghoo (10% interest), KX36 (100% interest), and Thorny River (76% interest). The analyst estimates Botswana Diamonds' enterprise value at £48.7m based on risk-adjusted valuations of Ghaghoo at £36.1m and KX36 at £29.5m, with Thorny River still to be determined pending a resource model. The report recommends buying Botswana Diamonds shares based on significant upside potential from its project portfolio.
- The Ghaghoo Diamond Mine in Botswana has a mining license until 2036 and full mining infrastructure including a 60,000 ton per month processing plant.
- Vast Resources PLC is acquiring a 100% interest in the mine for $4 million through a joint venture with Botswana Diamonds PLC.
- The mine has produced diamonds in the past and has the potential to profitably recover high-value fancy colored diamonds from its resource of over 100 million tons grading around 19 carats per hundred tons.
Mining Review Africa article on Botswana Diamonds plc Dec 2018James AH Campbell
Botswana Diamonds has entered into an agreement with Vast Resources to jointly develop and explore the Marange Diamond Fields in Zimbabwe. This partnership aims to unlock the diamond value in the fields and establish sustainable mining practices. Botswana Diamonds and Vast Resources bring extensive experience exploring for diamonds in Zimbabwe and surrounding countries. Their initial work has outlined the potential for modern and older diamond deposits within a 15 square kilometer concession block. Subject to positive results from ongoing field work and sampling, the partners intend to progress to a trial mining program by the end of 2019 to further evaluate the resource potential.
Modern Mining April 2020 article on Botswana Diamonds plcJames AH Campbell
Botswana Diamonds plc (BOD) is a junior diamond exploration company led by experienced explorers. BOD deems southern Africa, especially Botswana, South Africa, and Zimbabwe, to be highly prospective for diamonds. BOD has expanded its exploration portfolio in Botswana with new licenses and has identified targets through geophysics and sampling. In South Africa, drilling on the Marsfontein project intersected kimberlite and a bulk sample was collected. BOD also has interests in Zimbabwe through a joint venture and is awaiting license approval to begin exploration.
Northland Capital Partners Botswana Diamonds plc H2 2018James AH Campbell
Botswana Diamonds is a diamond exploration company focused on projects in Botswana, South Africa, and Zimbabwe. During the second half of 2018, Botswana Diamonds expects to deliver results from exploration programs across its projects. These include analyzing kimberlite indicator minerals from Botswana and South Africa to assess diamond potential, monitoring potential sale of the Maibwe project in Botswana by a liquidator, and initial work on a recently acquired project in South Africa. Botswana Diamonds aims to advance its portfolio of early-stage projects by seeking to define kimberlite resources and diamond values through exploration.
This document provides information on Botswana Diamonds plc, including its directors, business address, registered auditors, and other company details. It also contains the chairman's statement and managing director's statement, which discuss the company's operations in Botswana and South Africa, its joint ventures, ground holdings and approach to diamond exploration. The company focuses on identifying new diamondiferous kimberlite opportunities through partnerships and leveraging its experience in Africa.
Cairn India is an oil and gas exploration and production company based in India. It has a diverse portfolio of assets across their lifecycle in India, Sri Lanka and South Africa. In the coming years, Cairn plans to invest $3 billion to increase production primarily through exploration and development in the Rajasthan block in India, where it has significant remaining potential. It aims to deliver production and reserves growth while maintaining its strong financial position and shareholder returns.
Lara is a prospect generator company operating in South America with a portfolio of mineral projects at various stages of development. It utilizes a business model of funding exploration through partnerships and project sales to limit financial risk. Key projects include the Liberdade copper discovery in Brazil, where Lara is defending its exploration rights in court, and the Curionopolis copper project in Brazil where partner Tessarema is developing the high-grade Maravaia deposit. Lara also has gold and phosphate projects in Peru and Brazil being advanced through partnerships and is seeking to acquire new prospects in 2017.
A Canadian mining company owns the large Lola Graphite Deposit in Eastern Guinea, West Africa. The deposit has a surface area of 3.22 km2 and is one of the largest graphite deposits in the world. Preliminary tests found high grades of graphite up to 20% carbon. The company plans a drilling program to establish mineral resources and advance the project to a preliminary feasibility study. The deposit has potential to become a long-life, low-cost producer of large and super-jumbo flake graphite to serve growing demand for batteries and other green technologies.
Cairn India is one of the world's fastest growing independent oil and gas exploration and production companies. It has a world-class portfolio of assets producing over 200,000 barrels of oil equivalent per day. Cairn has made over 40 discoveries and has proven and probable reserves and resources of 1.3 billion barrels of oil equivalent. It is focused on further developing its major assets in Rajasthan, India through aggressive exploration and appraisal drilling programs.
Lara Exploration is a Canadian prospect generator company operating in South America. It utilizes a business model of funding exploration through partnerships and project sales to limit financial risk. Key projects include the Liberdade copper discovery in Brazil, which has title issues, and the Maravaia copper mine in Brazil, which is being developed and may start paying royalties in 2016. The company is acquiring new prospects through the current downturn to position itself for an upturn in the commodity cycle. Management has a successful track record of discoveries and is maintaining momentum through existing partnerships and a sufficient treasury.
Beacon Securities initiates coverage of SRG Graphite with a Speculative Buy rating and $2.00 target price. Key points:
- SRG's flagship asset is the large, near-surface Lola Graphite deposit in Guinea, which has the potential for low-cost mining and over 50% large flake graphite.
- SRG also owns the nearby Gogota Nickel-Cobalt deposit, providing exposure to battery metals.
- SRG has an experienced management team with a track record of success in West Africa, including the multi-billion dollar SEMAFO gold producer.
- The company is focused on a lower risk strategy of producing graphite concentrate
BG Group is a high growth exploration and production (E&P) and liquefied natural gas (LNG) company that is experiencing strong growth in E&P and LNG volumes. Capital expenditures are expected to fall from $11.2 billion in 2013 to $8-10 billion for 2015-2016. BG Group is actively managing its portfolio to deliver value through investments in further growth and returning excess cash to shareholders.
This document is the 2019 annual report for Botswana Diamonds PLC. It includes information on the company's directors and advisors, chairman and managing director statements, and consolidated financial statements for 2019. The highlights include Botswana Diamonds beginning diamond production from the Marsfontein gravels in South Africa and ongoing exploration work in Botswana and Zimbabwe to identify kimberlite blows and drill targets.
- Lara is a Canadian mineral exploration company operating in South America using a prospect generator model to fund exploration through joint ventures and project sales.
- The company has a portfolio of projects focused on precious metals, base metals, and industrial minerals. A key project is the Liberdade copper-gold discovery in Brazil which Lara is defending through legal action.
- In 2016, Lara expects payments from partners developing projects like Curionopolis copper in Brazil, and from the sale of coal and phosphate projects to Kiwanda. Drilling is also anticipated at the Corina gold project in Peru under an option with Hochschild.
This document provides a 3 paragraph summary of Lara Exploration Ltd., a mineral exploration company listed on the TSX Venture Exchange. Lara utilizes a prospect generator business model where it acquires mineral prospects, defines targets, and then brings in joint venture partners to fund exploration and development while retaining interests. A key project is the Liberdade copper-gold discovery in Brazil where drilling indicates a large system and Lara's JV partner Codelco will carry out additional drilling and resource definition work. The company has a multi-commodity project portfolio across Brazil, Peru, Chile and Colombia and 14 partnerships that could potentially deliver over $70 million in third-party funded exploration.
Lucapa Diamond Company Ltd is acquiring a 70% interest in the advanced Mothae Kimberlite Project in Lesotho for $9 million. Mothae is located near the high-value Letšeng mine and has historically produced large, high-quality diamonds from bulk sampling. Lucapa plans a staged development starting with a $12 million phase 1 to modify the existing plant and mine over 2 million tonnes in the first 3 years. The acquisition diversifies Lucapa's production and is expected to be value accretive based on a preliminary assessment.
Marathon Oil Corporation reported lower net income of $258 million for the first quarter of 2004 compared to $307 million in the same period of 2003. Earnings were impacted by reduced production, lower refining margins, and decreased commodity prices. However, the company advanced several strategic initiatives including agreeing to acquire Ashland's interest in Marathon Ashland Petroleum and continuing its exploration success with three new discoveries. Marathon also strengthened its core assets and integrated gas strategy.
- Exile Resources is an African oil and gas exploration and production company focused on Nigeria and with a license in Zambia.
- Their main project is the Akepo field in Nigeria, where they have re-entered and tested the Akepo-1st well, estimating production of 2,500-3,000 barrels of oil per day.
- Their goals are to begin production at Akepo in Summer 2010 and use cash flow to acquire additional projects in Nigeria and pursue opportunities elsewhere in West Africa.
REIS 2013 Broken Hill - Centrex Metals ASX:CXMSymposium
The document discusses Centrex Metals Limited's strategy to develop resource projects for developing markets. It outlines several of Centrex's key projects in Australia through joint ventures with Chinese partners to develop iron ore, base metals, and port infrastructure. These include the Eyre Iron JV, Port Spencer JV, Bungalow JV, and Goulburn JV. It also discusses Centrex's corporate overview, management team, and recent exploration success defining a magnetite exploration target at Kimba Gap. The company aims to acquire and develop bulk commodity projects, leveraging international partnerships to fund development.
Exile Resources June 2010 Investor PresentationPENTA
The corporate presentation provides an overview of Exile Resources Inc., an oil and gas exploration and production company focused on Africa. It summarizes their existing project in Nigeria called Akepo, which has tested oil zones and is targeting first oil in summer 2010. It also discusses their exploration license in Zambia and plans to acquire additional projects in Nigeria and other parts of West Africa. Key milestones for 2009/10 include bringing Akepo online, reviewing opportunities for business development, and pursuing financing to fund growth.
- Marathon Oil reported a significant increase in net income for the first quarter of 2003 compared to the same period in 2002, driven by higher oil and gas prices and improved refining margins. Net income was $307 million compared to $67 million in 2002.
- The company continued progress on expansion projects in Equatorial Guinea and had encouraging exploration results in Norway and Angola. It also increased capacity at two refineries and acquired additional interest in a pipeline.
- Marathon expects to exceed its target of $700 million in asset sales in 2003 through continued rationalization of its portfolio to focus on core areas and maintain financial flexibility.
Marathon Oil Corporation reported its second quarter 2003 results, with net income of $248 million compared to $168 million in the second quarter of 2002. The company had exploration successes offshore Angola and Norway. It also established itself in a new core area by acquiring Khanty Mansiysk Oil Corporation and related assets in Western Siberia. Marathon advanced its integrated gas strategy by signing agreements for a proposed liquefied natural gas project in Equatorial Guinea.
Teranga Gold Corporation held a presentation focused on delivering growth at the Denver Gold Forum on September 17, 2014. The presentation summarized Teranga's operations, growth opportunities, and financial results for 2014. Key points included doubling reserves and resources through the acquisition of OJVG, integration of Sabodala and Masato operations, and exploration programs identifying additional reserve potential. Production is expected to increase to 250,000-350,000 ounces per year by optimizing operations and integrating assets. The presentation highlighted Teranga's goal of increasing production further to 400,000-500,000 ounces through regional exploration successes and potential additional milling capacity.
Zimtu Capital Corp announces that it has signed an agreement with Lomiko Metals Inc. whereby Lomiko can earn a 100% interest in the Quatre Milles Graphite Property in Quebec. As part of the transaction, Zimtu will receive $25,000 and 2 million shares over 24 months, and will retain a 2% NSR on the property. Lomiko plans to complete a minimum $200,000 in exploration within 12 months and mount an aggressive exploration campaign on the property going forward.
Oil Search Limited: ALASKA NORTH SLOPE: A STRATEGIC EXPANSION OPPORTUNITY FOR...Brad Keithley
Oil Search Limited Investor Presentation on Alaska opportunity, metrics and plan. For those interested, a full transcript of the presentation is available also at http://bit.ly/2B0fHyo.
This document is Botswana Diamonds PLC's 2021 annual report. It provides summaries of the company's projects and strategy. In Botswana, the company has conditionally agreed to acquire the Ghaghoo diamond mine through a joint venture. It also owns the nearby KX36 deposit. The company is exploring for new kimberlites through partnerships. In South Africa, the company discovered two diamondiferous blows at its Thorny River project and is evaluating commercial production potential. It also acquired additional interests in the Vutomi Mining project. The company aims to explore and develop diamond deposits in southern Africa, focusing on the geologically prospective Kaapvaal craton region.
Calibre Mining has multiple gold, silver, and copper exploration projects covering over 500 square kilometers in Nicaragua's historic Borosi Mining District. The company has partnerships with major mining companies including IAMGOLD, Centerra Gold, and B2Gold. Recent drilling successes have led to new high-grade gold discoveries at the Guapinol, Vancouver, and Blag projects within the Eastern Borosi gold project area optioned to IAMGOLD. Calibre plans continued exploration and drilling programs across its projects in 2016 funded by its partners.
Lara is a prospect generator company operating in South America with a portfolio of mineral projects at various stages of development. It utilizes a business model of funding exploration through partnerships and project sales to limit financial risk. Key projects include the Liberdade copper discovery in Brazil, where Lara is defending its exploration rights in court, and the Curionopolis copper project in Brazil where partner Tessarema is developing the high-grade Maravaia deposit. Lara also has gold and phosphate projects in Peru and Brazil being advanced through partnerships and is seeking to acquire new prospects in 2017.
A Canadian mining company owns the large Lola Graphite Deposit in Eastern Guinea, West Africa. The deposit has a surface area of 3.22 km2 and is one of the largest graphite deposits in the world. Preliminary tests found high grades of graphite up to 20% carbon. The company plans a drilling program to establish mineral resources and advance the project to a preliminary feasibility study. The deposit has potential to become a long-life, low-cost producer of large and super-jumbo flake graphite to serve growing demand for batteries and other green technologies.
Cairn India is one of the world's fastest growing independent oil and gas exploration and production companies. It has a world-class portfolio of assets producing over 200,000 barrels of oil equivalent per day. Cairn has made over 40 discoveries and has proven and probable reserves and resources of 1.3 billion barrels of oil equivalent. It is focused on further developing its major assets in Rajasthan, India through aggressive exploration and appraisal drilling programs.
Lara Exploration is a Canadian prospect generator company operating in South America. It utilizes a business model of funding exploration through partnerships and project sales to limit financial risk. Key projects include the Liberdade copper discovery in Brazil, which has title issues, and the Maravaia copper mine in Brazil, which is being developed and may start paying royalties in 2016. The company is acquiring new prospects through the current downturn to position itself for an upturn in the commodity cycle. Management has a successful track record of discoveries and is maintaining momentum through existing partnerships and a sufficient treasury.
Beacon Securities initiates coverage of SRG Graphite with a Speculative Buy rating and $2.00 target price. Key points:
- SRG's flagship asset is the large, near-surface Lola Graphite deposit in Guinea, which has the potential for low-cost mining and over 50% large flake graphite.
- SRG also owns the nearby Gogota Nickel-Cobalt deposit, providing exposure to battery metals.
- SRG has an experienced management team with a track record of success in West Africa, including the multi-billion dollar SEMAFO gold producer.
- The company is focused on a lower risk strategy of producing graphite concentrate
BG Group is a high growth exploration and production (E&P) and liquefied natural gas (LNG) company that is experiencing strong growth in E&P and LNG volumes. Capital expenditures are expected to fall from $11.2 billion in 2013 to $8-10 billion for 2015-2016. BG Group is actively managing its portfolio to deliver value through investments in further growth and returning excess cash to shareholders.
This document is the 2019 annual report for Botswana Diamonds PLC. It includes information on the company's directors and advisors, chairman and managing director statements, and consolidated financial statements for 2019. The highlights include Botswana Diamonds beginning diamond production from the Marsfontein gravels in South Africa and ongoing exploration work in Botswana and Zimbabwe to identify kimberlite blows and drill targets.
- Lara is a Canadian mineral exploration company operating in South America using a prospect generator model to fund exploration through joint ventures and project sales.
- The company has a portfolio of projects focused on precious metals, base metals, and industrial minerals. A key project is the Liberdade copper-gold discovery in Brazil which Lara is defending through legal action.
- In 2016, Lara expects payments from partners developing projects like Curionopolis copper in Brazil, and from the sale of coal and phosphate projects to Kiwanda. Drilling is also anticipated at the Corina gold project in Peru under an option with Hochschild.
This document provides a 3 paragraph summary of Lara Exploration Ltd., a mineral exploration company listed on the TSX Venture Exchange. Lara utilizes a prospect generator business model where it acquires mineral prospects, defines targets, and then brings in joint venture partners to fund exploration and development while retaining interests. A key project is the Liberdade copper-gold discovery in Brazil where drilling indicates a large system and Lara's JV partner Codelco will carry out additional drilling and resource definition work. The company has a multi-commodity project portfolio across Brazil, Peru, Chile and Colombia and 14 partnerships that could potentially deliver over $70 million in third-party funded exploration.
Lucapa Diamond Company Ltd is acquiring a 70% interest in the advanced Mothae Kimberlite Project in Lesotho for $9 million. Mothae is located near the high-value Letšeng mine and has historically produced large, high-quality diamonds from bulk sampling. Lucapa plans a staged development starting with a $12 million phase 1 to modify the existing plant and mine over 2 million tonnes in the first 3 years. The acquisition diversifies Lucapa's production and is expected to be value accretive based on a preliminary assessment.
Marathon Oil Corporation reported lower net income of $258 million for the first quarter of 2004 compared to $307 million in the same period of 2003. Earnings were impacted by reduced production, lower refining margins, and decreased commodity prices. However, the company advanced several strategic initiatives including agreeing to acquire Ashland's interest in Marathon Ashland Petroleum and continuing its exploration success with three new discoveries. Marathon also strengthened its core assets and integrated gas strategy.
- Exile Resources is an African oil and gas exploration and production company focused on Nigeria and with a license in Zambia.
- Their main project is the Akepo field in Nigeria, where they have re-entered and tested the Akepo-1st well, estimating production of 2,500-3,000 barrels of oil per day.
- Their goals are to begin production at Akepo in Summer 2010 and use cash flow to acquire additional projects in Nigeria and pursue opportunities elsewhere in West Africa.
REIS 2013 Broken Hill - Centrex Metals ASX:CXMSymposium
The document discusses Centrex Metals Limited's strategy to develop resource projects for developing markets. It outlines several of Centrex's key projects in Australia through joint ventures with Chinese partners to develop iron ore, base metals, and port infrastructure. These include the Eyre Iron JV, Port Spencer JV, Bungalow JV, and Goulburn JV. It also discusses Centrex's corporate overview, management team, and recent exploration success defining a magnetite exploration target at Kimba Gap. The company aims to acquire and develop bulk commodity projects, leveraging international partnerships to fund development.
Exile Resources June 2010 Investor PresentationPENTA
The corporate presentation provides an overview of Exile Resources Inc., an oil and gas exploration and production company focused on Africa. It summarizes their existing project in Nigeria called Akepo, which has tested oil zones and is targeting first oil in summer 2010. It also discusses their exploration license in Zambia and plans to acquire additional projects in Nigeria and other parts of West Africa. Key milestones for 2009/10 include bringing Akepo online, reviewing opportunities for business development, and pursuing financing to fund growth.
- Marathon Oil reported a significant increase in net income for the first quarter of 2003 compared to the same period in 2002, driven by higher oil and gas prices and improved refining margins. Net income was $307 million compared to $67 million in 2002.
- The company continued progress on expansion projects in Equatorial Guinea and had encouraging exploration results in Norway and Angola. It also increased capacity at two refineries and acquired additional interest in a pipeline.
- Marathon expects to exceed its target of $700 million in asset sales in 2003 through continued rationalization of its portfolio to focus on core areas and maintain financial flexibility.
Marathon Oil Corporation reported its second quarter 2003 results, with net income of $248 million compared to $168 million in the second quarter of 2002. The company had exploration successes offshore Angola and Norway. It also established itself in a new core area by acquiring Khanty Mansiysk Oil Corporation and related assets in Western Siberia. Marathon advanced its integrated gas strategy by signing agreements for a proposed liquefied natural gas project in Equatorial Guinea.
Teranga Gold Corporation held a presentation focused on delivering growth at the Denver Gold Forum on September 17, 2014. The presentation summarized Teranga's operations, growth opportunities, and financial results for 2014. Key points included doubling reserves and resources through the acquisition of OJVG, integration of Sabodala and Masato operations, and exploration programs identifying additional reserve potential. Production is expected to increase to 250,000-350,000 ounces per year by optimizing operations and integrating assets. The presentation highlighted Teranga's goal of increasing production further to 400,000-500,000 ounces through regional exploration successes and potential additional milling capacity.
Zimtu Capital Corp announces that it has signed an agreement with Lomiko Metals Inc. whereby Lomiko can earn a 100% interest in the Quatre Milles Graphite Property in Quebec. As part of the transaction, Zimtu will receive $25,000 and 2 million shares over 24 months, and will retain a 2% NSR on the property. Lomiko plans to complete a minimum $200,000 in exploration within 12 months and mount an aggressive exploration campaign on the property going forward.
Oil Search Limited: ALASKA NORTH SLOPE: A STRATEGIC EXPANSION OPPORTUNITY FOR...Brad Keithley
Oil Search Limited Investor Presentation on Alaska opportunity, metrics and plan. For those interested, a full transcript of the presentation is available also at http://bit.ly/2B0fHyo.
This document is Botswana Diamonds PLC's 2021 annual report. It provides summaries of the company's projects and strategy. In Botswana, the company has conditionally agreed to acquire the Ghaghoo diamond mine through a joint venture. It also owns the nearby KX36 deposit. The company is exploring for new kimberlites through partnerships. In South Africa, the company discovered two diamondiferous blows at its Thorny River project and is evaluating commercial production potential. It also acquired additional interests in the Vutomi Mining project. The company aims to explore and develop diamond deposits in southern Africa, focusing on the geologically prospective Kaapvaal craton region.
Calibre Mining has multiple gold, silver, and copper exploration projects covering over 500 square kilometers in Nicaragua's historic Borosi Mining District. The company has partnerships with major mining companies including IAMGOLD, Centerra Gold, and B2Gold. Recent drilling successes have led to new high-grade gold discoveries at the Guapinol, Vancouver, and Blag projects within the Eastern Borosi gold project area optioned to IAMGOLD. Calibre plans continued exploration and drilling programs across its projects in 2016 funded by its partners.
Calibre Mining has gold, silver, and copper exploration projects covering over 934 square kilometers in Nicaragua's historic Borosi Mining District. The company has partnerships with major mining companies IAMGOLD, Centerra Gold, and B2Gold to explore projects within Calibre's land package. Recent drilling at the Eastern Borosi Gold Project, which is optioned to IAMGOLD, has yielded multiple high-grade gold intercepts, including 1.39 meters grading 98.72 g/t gold. IAMGOLD plans additional drilling in 2016 to expand on these discoveries.
Northland Capital Partners Botswana Diamonds H2 2018James AH Campbell
Botswana Diamonds is a diamond exploration company focused on projects in Botswana, South Africa, and Zimbabwe. During the second half of 2018, Botswana Diamonds expects to deliver results from exploration programs across its projects. These include results from kimberlite indicator mineral sampling in Botswana and South Africa that could identify diamond-bearing kimberlites for drilling. In Botswana, the company also awaits developments in resolving ownership of the Maibwe project with the liquidator of BCL Mine Group. In Zimbabwe, a new joint venture provides access to a partner's data to evaluate diamond projects.
Modern Mining June 2018 article on Botswana Diamonds plcJames AH Campbell
1) Botswana Diamonds' (BOD) Thorny River diamond project in South Africa is showing promise based on a technical evaluation report. The report estimates the deposit contains 1.2-2 million tons of ore grading 46-74 carats per hundred tons that could potentially be mined commercially.
2) BOD has added the Mooikloof property in South Africa near past successful mines as it is a known kimberlite pipe previously explored by De Beers but since passed between operators with little information available.
3) In addition to projects in South Africa, BOD has joint ventures exploring for diamonds in Botswana, including one with Russian diamond giant Alrosa, and is
Blox, Inc. is a mining company focused on growth through acquisition and development of gold assets in West Africa. The company currently holds projects in Guinea and Ghana, including its flagship Mansounia gold project in Guinea which hosts over 1.29 million ounces of gold resources. Blox is also exploring opportunities in renewable energy and technology to diversify and add potential revenue streams. The company aims to expand its existing assets and acquire new projects to build shareholder value.
Botswana Diamonds explores for diamonds in Botswana and South Africa, where it has partnerships with the world's largest diamond producer, Alrosa. BOD has had discovery success in the past and current projects include a 50/50 JV with Alrosa covering 19 prospecting licenses, a JV with BCL on 10 licenses, and an earn-in agreement for 20 kimberlites and 50,000 hectares in South Africa. BOD's flagship project is Frischgewaagt in South Africa, where initial drilling found volcanoclastic kimberlite indicating diamond-bearing pipes or blows, and samples will be analyzed for microdiamonds.
The document is the 2020 annual report of Botswana Diamonds. It summarizes activities in Botswana, South Africa, and Zimbabwe over the past year. In Botswana, they acquired Sekaka Diamonds which holds the rights to the KX36 diamond discovery and surrounding licenses. In South Africa, recent drilling discovered a 0.4 hectare "blow" on the Thorny River dykes which will be core drilled in 2021. They also took bulk samples from Marsfontein and a residual stockpile. In Zimbabwe, they have an agreement with Vast Resources to assist with a possible license in the Marange diamond area and are looking at another early stage project.
James Campbell is the Managing Director of Botswana Diamonds plc and has over 30 years of experience in the diamond industry, previously holding roles with De Beers and Rockwell Diamonds Inc. Botswana Diamonds recently entered into an earn-in agreement with Vutomi Mining Pty Ltd to fund diamond exploration on Vutomi's projects in South Africa. The agreement involves Botswana Diamonds providing £942k in cash and 100 million shares to earn a 72% stake in Vutomi. Botswana Diamonds hopes this agreement will unlock the potential of South Africa as an under-explored frontier for diamond exploration.
Raising Exploration Capital in Southern Africa: A Diamonds PerspectiveJames AH Campbell
Raising Exploration Capital in Southern Africa: A Diamonds Perspective. Presentation to Diamond Day at PDAC 2020 themed 'The business of diamonds from rock to ring'. Presentation by James AH Campbell, Managing Director of Botswana Diamonds plc.
REIS 2013 Broken Hill - Carpentaria Exploration ASX:CAPSymposium
The document summarizes Carpentaria Exploration Ltd's Hawsons Iron Project. Key points include:
- The Hawsons Iron Project is a quality asset with an inferred resource of 1.4 billion tonnes at 69.9% Fe and 2.5% SiO2, with potential to produce 10-20 million tonnes per annum of iron concentrate.
- A bankable feasibility study is underway, funded by $5 million from joint venture partner Pure Metals, which could add great value to the project.
- The project benefits from existing rail, port and power infrastructure, and has advantages of large, low-waste deposits that are lower cost to process than typical magnetite ores.
Modern Mining article on Botswana Diamonds plc July 2017James AH Campbell
Botswana Diamonds' managing director James Campbell and chairman John Teeling previously worked together at African Diamonds, which discovered the prolific AK6 diamond mine in Botswana. They have now been reunited at Botswana Diamonds to utilize their expertise in exploring for diamonds. Botswana Diamonds has joint ventures exploring for diamonds in Botswana and South Africa, including a project near the highly successful former Marsfontein mine in South Africa. Recent drilling at the Frischgewaagt project intersected kimberlite and recovered microdiamonds, indicating the potential for an economic deposit. Campbell believes their experience and use of modern exploration techniques can lead to the discovery of new kimberlite mines.
Raising Exploration Capital in Southern Africa: A Diamonds PerspectiveJames AH Campbell
Raising Exploration Capital in Southern Africa: A Diamonds Perspective by James AH Campbell. Presentation to the Mining Investment Botswana Conference 21-22 May 2019 in Gaborone.
Attracting Funds to Develop the Diamond Potential of Southern AfricaJames AH Campbell
Attracting Funds to Develop the Diamond Potential of Southern Africa
JAHCampbell
24 Aug 2023
Presentation to the Kimberely International Diamond Conference.
Michael Bue is identified as the qualified person under NI43-101 who approved the scientific and technical information in the presentation. The presentation contains forward-looking statements which are based on certain assumptions and are subject to risks and uncertainties. TVI Pacific holds a 30.66% interest in TVIRD, its operating affiliate in the Philippines, which is focused on gold, silver, nickel and copper production and exploration projects. TVIRD has a successful track record of bringing mines into production and has received several environmental and safety awards.
Half yearly results for the six months to June 2013Company Spotlight
- Premier reported continuing record profits and growing cash flow in the first half of 2013. Key projects like Catcher, Bream and Sea Lion are progressing.
- 6 out of 7 exploration wells drilled so far in 2013 were successful, adding over 650 million barrels of net unrisked resources to Premier's portfolio.
- Premier is progressing development projects in the North Sea like Solan and Huntington, and exploring opportunities in its international portfolio in areas like Indonesia, Pakistan, Vietnam and offshore Kenya.
MPH Ventures Corp is a Canadian mining company advancing molybdenum, graphite, and gold projects in Ontario. It owns 100% of the Pidgeon molybdenum deposit, the North Albany graphite property contiguous to a major discovery, and the Raney gold project where drilling has intersected significant gold mineralization. MPH management has extensive experience advancing resource projects and the company's properties have potential for resource development.
Gold in Guyana is working to become a mid-tier gold producer in 2014. It owns the advanced Eagle Mountain gold project in Guyana, which contains an existing NI 43-101 resource of 188,000 ounces of indicated gold and 792,000 ounces of inferred gold. The company plans to commence production at Eagle Mountain in 2014 after completing feasibility studies and permitting.
Gold in Guyana is working to become a mid-tier gold producer in 2014. It owns the advanced Eagle Mountain gold project in Guyana, which contains an existing NI 43-101 resource of 188,000 ounces of indicated gold and 792,000 ounces of inferred gold. The company plans to commence production at Eagle Mountain in 2014 after completing feasibility studies and permitting.
Similar to Botswana Diamonds plc 2018 Annual Report MD's Statement (20)
Diamond exploration, mining, financing and driving entrepreneurial behaviour.James AH Campbell
A presentation entitled:
"Diamond exploration, mining, financing and driving entrepreneurial behaviour".
to the Antwerp World Diamond Council and Gordon Institute of Business ('GIBS') global seminar entitled "From Mine to Finger. A deep dive into the world of diamonds". 7 February 2024 at GIBS.
Most of the participants are either entrepreneurs in the diamond downstream space or academics from both institutions.
Corporate Governance for South African Mining Companies (a practitioner's view)James AH Campbell
Corporate Governance for South African Mining Companies (a practitioner's view).
Compliance & Reporting in the Minerals Industry
15th September 2023
University of the Witwatersrand
(MINN7052A)
The document argues that forecasts for demand growth in green metals are overhyped and unrealistic. It cites forecasts showing growth rates as high as 42x for lithium over the next 20 years, and claims these forecasts will not come to fruition. It also notes that there has not been enough capital investment or exploration, especially grassroots exploration, to support achieving the forecasted demand levels. The document concludes that the case for overhyped forecasts of green metals demand has been made.
Prospecting for Solutions: Challenges facing the South African Mining IndustryJames AH Campbell
Prospecting for Solutions: Challenges facing the South African Mining Industry
James Campbell
Presentation to Drexel University MBA group in Johannesburg on 11 May 2023.
This technical report summarizes exploration and mining activities on the Tirisano alluvial diamond project in South Africa. The project includes three contiguous prospecting rights totaling approximately 5,000 hectares. Previous exploration included remote sensing, geophysics, drilling and bulk sampling programs. Bulk sampling recovered grades between 20-60 carats per hundred tons from six pits. Diamond recovery was between 1.1 and 2.5 carats per hundred tons. Diamonds were mostly small, with a few stones over 2 carats. Based on drilling and sampling, an inferred resource of 27.5 million tons at 40 carats per hundred tons was estimated, containing about 11 million carats. Further exploration is recommended to expand resources.
This document provides an analysis of Botswana Diamonds plc by First Equity Limited. It values Botswana Diamonds' key projects including Thorny River, KX36, and Ghaghoo based on their resource estimates and development risks. For Thorny River, the analyst estimates a risked valuation of $44.5 million based on an open pit mining plan and exploration upside. For Ghaghoo, the value is lowered to $7.2 million given lapsed sales agreements but potential for redeals. For KX36, the value is $23.5 million due to increased development risk without Ghaghoo restart. Based on these values, the company's enterprise valuation is estimated at
Is there any overlap between Corporate Governance & Public Reporting?James AH Campbell
Is there any overlap between Corporate Governance & Public Reporting?
Presentation to the Geological Society of South Africa.
10th October 2022, Johannesburg.
Prospecting for Solutions: Challenges facing the South African Mining IndustryJames AH Campbell
Prospecting for Solutions: Challenges facing the South African Mining Industry.
Society of Economic Geologists, SA Chapter.
6th October 2022, University of the Witwatersrand.
Corporate Governance for South African Mining Companies (a practitioner's view)James AH Campbell
This document provides an overview of corporate governance for South African mining companies from the perspective of a practitioner in the industry. It discusses key topics such as the King IV Code, directors' duties, ethics, integrated reporting, socially responsible investment, and the importance of having a social license to operate. The document also examines issues specific to junior mining companies and the role of corporate governance indices and custodians in promoting transparency and accountability.
1) The AK6 kimberlite in Botswana was discovered in 1969 but considered low interest until improved exploration technologies allowed reexamination in 1998.
2) Advanced exploration from 2005-2006 involved large diameter drilling, sampling, and diamond recovery to evaluate the deposit. This led to an initial inferred resource of 11.6 million carats from 48.5 million tons at 24 carats per hundred tons.
3) Further work including trenching and more drilling was planned to upgrade the resource to the indicated classification required for a bankable feasibility study and potential future mining.
The Future of Botswana's Diamond Resources
James AH Campbell
Botswana Resources Infrastructure and Energy Forum ('BRIEF')
Gaborone, Botswana
16-17 May 2022
James Campbell, the father of the bride Nosky, gives a speech at her wedding to Douglas. He welcomes Douglas to the family and recalls how Douglas became part of their family during the COVID lockdown. James wishes the couple a life of partnership, love, and shared responsibility. He provides advice such as learning to attack problems together rather than each other, making time for each other, and never letting the sun go down on an argument. James toasts to the couple's future together with blessings from the Irish, Ndebele, and English traditions.
This Competent Persons Report summarizes the exploration work conducted to date on the Bat Shelomo gemstone project located in northern Israel. Drilling and sampling programs between 2009-2021 identified volcanic rock units and sedimentary deposits containing gemstone minerals such as garnet, spinel, and sapphire. A 54.03 carat garnet was recovered from a bulk sample in 2020. Volume block modeling using drilling data estimated a preliminary resource. Further exploration including additional drilling is recommended to fully evaluate the economic potential of the project.
Volcanoes Presentation with material chiefly drawn from the Geological Society of the UK.
Presented to Reddam House Waterfall learners on 14 March 2022
This document provides a list of reports, presentations, videos, articles, and social media links from 2021 that relate to Botswana Diamonds PLC. It includes annual reports, brokers notes, presentations on various diamond exploration projects in South Africa and Botswana, podcasts and interviews, and articles in mining publications. The links cover topics such as effective investment in early-stage diamond projects, corporate governance, and the acquisition of the Ghaghoo diamond mine. Social media links are also provided for Botswana Diamonds and its CEO James Campbell.
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1. Annual Report 2018
1 | P a g e
Managing Director’s Statement
Introduction & Strategy
Finding mines is a risky endeavour, with no guaranteed rewards. Junior explorers are
typically leaner and nimbler than more established mining companies and coupled with
experienced management these qualities translate into lower overheads and accelerated
project timeframes without compromising quality of work. We believe that the agility and
flexibility of Botswana Diamonds plc’s (‘BOD’) is an advantage, particularly during the
early exploration stages.
The Company is actively exploring in Botswana and South Africa and will soon be active
in Zimbabwe. The Kaapvaal Craton, which straddles the three countries, is a highly
prospective region for diamond exploration: the craton hosts a substantial number of
kimberlites and has a history of diamond production dating back to 1866. Despite the long
history of diamond production on the Kaapvaal, BOD believes that there remain
significant opportunities for commercial discoveries, particularly due to the lack of recent
advanced exploration techniques being deployed in much of the region due to perceived
political risk factors. Future discoveries may include the re-discovery of previously mined,
long forgotten, diamondiferous kimberlites, as well as the re-assessment of known historic
discoveries using modern exploration techniques. A very striking example of the latter is
BOD’s predecessor African Diamonds plc (‘AFD’) which developed the AK6 deposit, now
the world-famous Karowe Mine, in Botswana.
Whilst some investors may be enticed by a junior explorer’s value proposition, most are
discouraged by perceptions of hostile investment environments and excessive
bureaucracy which translates into higher risk. The onus thus rests on the junior explorer
to build investors’ confidence through demonstrable competence, agility, tenacity and of
course a strong track record.
2. Annual Report 2018
2 | P a g e
Figure 1: Kaapvaal Craton
Results of an economic competitiveness analysis across five southern African mining and
fiscal regimes conducted by the Company indicate diamond project valuations to be most
impacted by resource nationalism brought on by varying degrees of free carry and mineral
royalties, as well as perceptions of the political risk environment.
The study found that the viability of marginal projects is diminished in Botswana due to
the high rates of diamond royalties in that country. Conversely it found that South Africa’s
comparatively lower royalties and cost of operation, relative to other southern African
diamond producers, augment the potential return on investment. However, perceptions
of South Africa’s political and legislative regimes add to risk and discount rates despite a
far improved Mining Charter which was recently promulgated.
Political risk in both Zimbabwe and South Africa has lowered in recent months and thus
diamond exploration is beginning to regain momentum, as demonstrated by some majors
staking ground in both countries.
The latest Fraser Institute mining investment attractiveness rankings support our strategy:
overall rankings for South Africa and Zimbabwe have improved despite the unresolved
challenges, while Botswana remains the highest ranked country in Africa from a policy
perspective. Certainty around title to ground and ownership rights is key to investors who
are prepared to commit beyond the early speculative phase.
Explorers cannot afford to be too selective over political demarcations of their areas of
interest, as geology does not follow any political boundaries. Certain diamond producing
countries, like Botswana, have achieved prosperity and political stability thanks to the
3. Annual Report 2018
3 | P a g e
sensible exploitation of the very diamond resources that explorers seek to discover.
Others still have some way to go.
BOD has adopted a prospect generator model, whereby, the Company’s significant level
of technical expertise and diamond industry networks are leveraged to secure prospective
early-stage projects and assess the initial potential of these projects using low-cost
advanced exploration methods such as geophysics and geochemical sampling.
Subsequently depending on the opportunity, the Company may seek to risk share or joint
venture a project or advance it through the drilling and resource estimation stage, if
significant value can be added with limited exploration risk and cost.
As a result of this strategy, the Company has assembled a portfolio of projects in
Botswana and South Africa and is expanding this by acquiring additional ground in
Zimbabwe in partnership with Vast Resources plc (‘Vast’). Risk is balanced through a mix
of ownership models, stages of project development and optionality within the project
portfolio.
Figure 1: BOD's project portfolio
Operations
Botswana
Botswana is the world’s largest diamond producer by value and the second largest by
volume. This country hosts world leading diamond mines, such as Orapa and Jwaneng,
as well as the highly profitable Karowe mine. Three quarters of Botswana’s annual
diamond production is of gem quality. The second largest diamond ever found, the
1,109ct Lesedi La Rona, was unearthed from Karowe mine in 2015.
4. Annual Report 2018
4 | P a g e
Due to Botswana’s long track record of prudent economic management and the build-up
of substantial financial reserves, the country has consistently been awarded the highest
credit ratings in Africa. Botswana is long accepted as the best address for diamond
investment.
BOD is actively exploring in two areas in Botswana: the Orapa and the Kalahari regions.
Exploration in the Orapa region is carried out under Sunland Minerals, a 50/50 Joint
Venture between BOD and ALROSA, the world’s largest diamond producer by volume.
The JV presently holds 2 active Prospecting Licences (PLs) in the Orapa area, as well as
6 PLs in the Gope/CKGR (Kalahari) area.
Figure 2: Sunland & Maibwe JV ground holdings in the Kalahari region of Botswana
BOD became operators of the Sunland JV in the Kalahari region in early 2018. A number
of high-grade geophysical anomalies were discovered by the JV in the Kalahari region of
Botswana.
5. Annual Report 2018
5 | P a g e
Figure 3: Sunland JV geophysical anomalies in the Kalahari
Following the identification of these high-grade geophysical anomalies, heavy mineral
sampling for kimberlitic indicators was undertaken on eight of the geophysical anomalies.
A total of 267 kimberlitic indicator minerals (“KIMs”) were discovered. All 8 anomalies had
KIMs. The KIMs included 41 garnets, 13 chromites, 139 ilmenites, 4 chrome diopsides
and 70 olivines. An analysis of the grains by Remote Exploration Services of Cape Town
concluded that the sources were likely to be local due to the abundance, size and fresh
surface textures of the KIMs. The next step is to determine the mineral chemistry of the
grains and thus determine their diamond bearing potential.
6. Annual Report 2018
6 | P a g e
Figure 4: KIMs recovered from sampling of geophysical anomalies in the Kalahari
Assuming positive mineral chemistry results a drilling programme will be considered.
Meanwhile, applications for the renewal of two PLs expiring in September 2018 are in the
process of being renewed.
Sunland was also active in the Orapa area of Botswana in particular re-assessing older
kimberlites through the lens of new technology.
Figure 5: Sunland JV ground holdings in the Orapa area
PL005/2017
PL006/2017PL260/2017
Orapa Mine
7. Annual Report 2018
7 | P a g e
During the course of November 2018, Alrosa decided to exit the Sunland JV with full
ownership of the JV going to BOD. Negotiations are at an advanced stage with a new JV
partner though these could not be concluded until Alrosa had officially exited the JV.
Meanwhile Sunland continues to hunt for new opportunities as the region in which it is
operating remains highly prospective.
Another Joint Venture, Maibwe Diamonds, holds 10 PLs in the Gope/CKGR area. Maibwe
Diamonds is a three-way JV between Botswana state-owned copper-nickel producer
BCL, Future Minerals and Siseko Minerals (51% owned by BOD).
Under the original JV agreement, BCL was the operator and had to complete and fund
an agreed work programme, whereas JV partners Future and Siseko have a free carry
up to the Bankable Feasibility Study stage. The project came to a halt during 2016, due
to BCL being unable to finance the agreed work programme, and subsequently BCL was
placed under provisional liquidation. The liquidator is in the process of completing a
prospectus with a view to selling BCL’s 51% interest in the Maibwe project while BOD
and the other partners have been developing alternative scenarios to move the project
forward including an offer to acquire BCL’s share in the project at the cost of exploration.
With the prospectus being at an advanced stage, a commercial solution is now in sight.
To date the Maibwe JV has identified a cluster of four diamond bearing kimberlite pipes
on PL186, with surface sizes of 5ha, 6ha, 2ha and 1ha respectively. Significant quantities
of microdiamonds have been found in one of these pipes.
Figure 6: Verification drilling at Maibwe
8. Annual Report 2018
8 | P a g e
South Africa
South Africa continues to be a prime diamond exploration destination from a geological
viewpoint, in spite of perceptions of being bureaucratic and of higher political risk. BOD
has been exploring in South Africa since 2017, when it entered into an Option and Earn-
In Agreement with Vutomi Mining Pty (Ltd) (‘Vutomi’) to explore Vutomi’s Prospecting
Rights spanning 50,000 hectares of prospective ground in the Limpopo, North-West and
Free State Provinces of South Africa. BOD currently has a 15% interest in Vutomi. On
completion of its commitments for Phase 2, BOD’s interest will increase to 40%. The
Company will then have the option to increase its interest to 72% of Vutomi by issuing
96.8m shares and settling Vutomi’s shareholder loan accounts of £300,000 within 90 days
of the completion of Phase 2.
A revised Mining Charter, which was promulgated in October 2018 following extensive
consultation with the mining industry, banks and others, is a significant step forward in
terms of improving long-term certainty and investor confidence compared with previous
drafts of this document.
Key highlights of the revised Charter include:
• A minimum black ownership remains at 26% in respect of the tenure of existing
mining rights which addresses concerns of dilution of existing right holders. For
new rights granted, black ownership will be 30%.
• No required local ownership is required for prospecting rights. This is a significant
step forward given the high-risk nature of exploration.
• The ‘once empowered, always empowered’ principle has been entrenched. This
allows black-empowerment shareholders to exit from projects without impacting
empowerment credentials. If control over the mining rights change credentials will
need to be re-established.
• The cost of free carry ownership on a project may be recovered from a project as
a first claim on the asset (although this interpretation is to be confirmed). In
addition, there is an option to settle free carries by way of an ‘equity-equivalent’ in
favour of employees or communities.
• The requirement for specified minimum dividends to employees and communities
in previous drafts has been removed.
9. Annual Report 2018
9 | P a g e
Figure 7: Vutomi ground holding
A Technical and Economic Evaluation Report (‘TEE Report’) for the Thorny River project
in the Limpopo Province was received in June 2018 and this followed earlier work by the
Company, which included bulk sampling. The TEE Report provided the Company with
sufficient information to warrant further development of the Thorny River project.
Figure 8: Bulk sampling at Thorny River
10. Annual Report 2018
10 | P a g e
The volume of the Thorny River deposit has been modelled at between 1.2 and 2.0 million
tonnes (to 100m); it has a diamond grade ranging between 46 and 74 cpht and diamond
values in the range of US$120 and US$220 per carat. The diamond parcel recovered
from the trench sample collected at Frischgewaagt in late 2017 proved insufficient for a
full economic valuation, particularly in the large stone size range. Despite this, the TEE
Report indicates that the project has commercial potential.
Figure 9: Diamonds recovered from Thorny River
In November 2018 a mining contract was concluded with Palaeo Minerals Pty Ltd
covering both bulk sampling activities and potentially future full-scale mining. The
contract will enable the Company to self-fund the Thorny River project from bulk sampling
through to mine development, assuming positive results, with indicated net royalties of
between US$2 to US$7 million annually based on current estimates.
Palaeo is an experienced mining contractor which has several mining contracts in South
Africa and Zimbabwe. The key terms of the Contract are as follows:
• A net revenue royalty of 12% will accrue to Vutomi.
• 8% will accrue to Vutomi to cover State Mineral Royalties, sales and security
expenses.
• 80% will accrue to Palaeo to cover its mining and processing costs.
• A processing target of up to 30,000 tons of kimberlite per month.
• Diamonds will be recovered using a processing facility at a nearby diamond
mine.
Regulatory approvals from the South African Department of Mineral Resources have
been applied for. An advance in-fill drilling programme will allow detailed planning prior
to commencing bulk sampling in 2019 and the revenue and information from this project
11. Annual Report 2018
11 | P a g e
will enable the Company to consider further long-term options for Thorny River and the
surrounding kimberlite field.
Eight kimberlites were “re-discovered” in late 2017 within the Free State Project area.
These eight kimberlites were identified through the integration of satellite imagery with
research conducted in the SA National Archives, where evidence was uncovered that a
number of diamond mines were operational between Jagersfontein and Kimberley in the
late 1870’s, these diamond producing operations stopped during the Anglo Boer War
(1899-1901) and never restarted. Surface size estimates based on detailed ground
geophysical surveys are in the range of 0.3 – 1.15 hectares (minimum sizes). Kimberlite
mineral chemistry work has rated these kimberlites as high interest from a diamond-
bearing potential perspective. Whole-rock geochemistry analyses of the kimberlites have
revealed a Group 1 geochemistry, similar to the Kimberley, Koffiefontein and
Jagersfontein diamond mines. The Company is planning a phased drilling programme in
this area.
Figure 10: One of the eight Free State kimberlites
In June 2018, Vutomi was awarded a Prospecting Right over the remaining extent of the
farm Mooikloof, which hosts the 2.5-hectares Mooikloof kimberlite pipe. A subsequent
claim by a South African company in respect of an allegedly overlapping Mining Permit is
under review by the South African Department of Mineral Resources. BOD has followed
all due process in its PR application and is confident that it holds valid title to the ground.
12. Annual Report 2018
12 | P a g e
The Mooikloof pipe was last assessed in the late 1980’s by De Beers when the focus
shifted to the advancement of the nearby Oaks mine. BOD intends to re-assess the
kimberlite with modern exploration techniques, as its size and economic potential might
have been underestimated at the time of its assessment.
Figure 11: The Mooikloof kimberlite pipe
In July 2018, Vutomi was awarded new prospecting rights over a portion of the Palmietgat
farm in the Limpopo Province, approximately 50 km north of Petra’s Cullinan diamond
mine. The Palmietgat area hosts six diamondiferous kimberlite pipes, three of which fall
within the new granted prospecting rights. The new ground is adjacent to the Palmietgat
Mine, formerly operated by Trivalence.
Figure 12: Site of the former Palmietgat Mine
13. Annual Report 2018
13 | P a g e
Drilling at the Ontevreden kimberlite, discovered by BOD in July 2017, revealed a smaller
pipe size than previously indicated by geophysics. No further work is planned on this
kimberlite and the Prospecting License has been relinquished.
Zimbabwe
Zimbabwe’s long legacy of diamond exploration and mining had all but vanished during
the many years of economic isolation under President Robert Mugabe’s political regime.
Following Mugabe’s downfall in November 2017, and on the back of the new
government’s favourable stance on foreign investment, investors’ interest has been rising
steadily. Recent amendments to the country’s mining bill have reaffirmed the new
government’s intention to open up to foreign investors. The controversial indigenisation
policy which had caused concern among foreign mining firms has been amended. The
requirement for 51% local ownership of foreign mining companies continues to be
applicable to diamonds and platinum mining entities, where the government or one of its
entities must own a majority stake. Notwithstanding this, the indications are clear that
Zimbabwe is indeed open for business and that the local ownership requirements for
diamonds and platinum may soon be amended.
In May 2018 BOD signed a MoU with Vast, an AIM listed exploration company. In terms
of the MoU, the two companies would be exchanging past exploration information and
forming a special purpose vehicle (‘SPV’) to jointly develop the diamond potential of
Zimbabwe. The initial focus of this agreement is on the Marange Diamond Fields (‘MDF’)
of eastern Zimbabwe. Vast holds exclusive access to key diamond concessions within
the MDF (“Heritage Concession”) through an agreement with a community organisation.
14. Annual Report 2018
14 | P a g e
Figure 13: Distribution of kimberlites in Zimbabwe
The 6,913 hectares Heritage Concession (also named Block T1A) contains several
targets for modern alluvial diamond placer deposits. The grades of the known modern
alluvial placers which drain the MDF range from 50-500 carats per hundred tons ("cpht"),
most typically 100-200 cpht. Moreover, there is potential for remnants of the basal
Umkondo (conglomerate) unit, which has grades of 100-3,000 cpht elsewhere in the
MDF. It is generally estimated that over 60 million carats have been recovered from the
entire MDF to date.
15. Annual Report 2018
15 | P a g e
Figure 14: Artisinal workings in the Heritage Concession
The initial MoU has since matured into a formal agreement over the MDF, which includes
the following terms:
• An SPV between BOD and Vast to develop diamond resources in the MDF.
• Initial shareholdings will be BOD - 13.33% and Vast - 86.67%.
• Vast will contribute up to US$1 million as initial funding.
• If any additional funds are required, this will be via an equity raise.
• BOD and Vast may contribute to any future equity raise on a pro rata basis. If
either party does not take up its allocation, the other may contribute further and
increase their relative shareholding.
A separate agreement between BOD and Vast will cover the joint development of
diamond properties outside of the MDF in a 50/50 joint venture model.
Preliminary results from a due diligence review of Block T1A have highlighted potential
for modern alluvial placers and the possibility for older conglomerates. Next steps will be
to investigate the potential of the modern alluvial diamond deposits and older
conglomerates on the property. Assuming positive results, field work will be closely
followed by drilling, pitting and bulk sampling which will form part of a pre-feasibility study.
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This may entail further funding beyond the initial US$1 million committed to the
programme by Vast.
Media Activity
The Company has presented at a number of conferences this year, including:
• Junior Mining Indaba in South Africa, where BOD presented on opportunities for
junior miners in a panel discussion;
• Southern African Institute of Mining and Metallurgy Diamonds - Source to Use
Conference, where papers were presented on diamond project financing and the
use of microdiamonds in exploration;
• Botswana Resource Sector Conference;
• African Mining Summit, where a paper on the economic competitiveness of
southern African mining regimes: attracting the exploration dollar was presented.
At the 2018 Mining Indaba in Cape Town, BOD was awarded runner-up position in the
prestigious Livingstone and Stanley Award for African Exploration, with first prize going
to Randgold Resources.
The Company continues to be active on social media with dedicated Twitter, Facebook,
LinkedIn and YouTube accounts.
Outlook
Over the coming months, BOD will continue to actively engage with the liquidators and
other interested parties to bring the Maibwe JV in Botswana towards a commercial
resolution, so that exploration activities may resume.
Within the Sunland JV in the Kalahari, the next step will be to determine the diamond-
bearing potential of the source of the high interest kimberlitic indicators; this will be
followed by a drilling programme.
Following advance in-fill drilling and customary regulatory approvals on the Thorny River
project in South Africa a bulk sampling campaign is planned which will allow the
Company to self-fund the future development of the project.
A phased drilling programme is planned for the eight Free State kimberlites during the
course of 2019. Further decisions will be informed accordingly.
Mineral chemistry and petrography work will be conducted on the Mooikloof kimberlites.
A desktop study will be undertaken at Palmietgat ahead of planning any field work for
2019.
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Depending on the outcome of the initial assessment on the T1A Block in Zimbabwe,
additional funding may be required in order to advance the project to pre-feasibility stage
drilling and sampling. Additional exploration for kimberlites beyond the MDF will begin
once a separate JV agreement with Vast is in place.
BOD will continue to pursue and assess opportunities to balance its exploration pipeline
by developing new early stage projects to complement the Company’s current portfolio of
active, more advanced projects.
James AH Campbell
Managing Director
8th November 2018