Diamond production advanced at Botswana

According to the Botswana Diamonds the Thorny River project in South Africa is on development spree!

 A mining contract has been concluded with Palaeo Minerals Pty Limited & that will enable the Company to self-fund the Thorny River project from bulk sampling through to mine development, assuming positive results.

 

Modelled diamond grades and value ranges were reported in February 2018 the annual benefits of the contract over the 3 to 6 year mine life of Thorny River could potentially be between US$2 to US$7 million annually.

 

John Teeling, Chairman, commented, “We are confident that Thorny River could be the first diamond producing project for Botswana Diamonds. A royalty bulk sampling / mining model means that we have no capital expenditure apart from a limited in-fill drilling programme in early-2019. We anticipate the award of the necessary regulatory approvals in anticipation of revenue being generated during the course of 2019.” 

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