Advancement of diamond production
Thorny
River could be the first
diamond
producing project for Botswana Diamonds
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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