16th Nov 2020 14:32
Botswana Diamonds PLC - diamond exploration company with licenses in Botswana and South Africa - Says all conditions precedent for Sekaka Diamonds Pty Ltd acquisition now satisfied. Sekaka prospecting licence, holding the KX36 high-grade kimberlite pipe, extended for another two years to September 30, 2022. Sekaka was owned by Petra Diamonds Ltd and was its exploration vehicle in Botswana, holding three prospecting licences, PL169/2019, PL058/2007 and PL224/2007. Acquisition also includes extensive database from more than 15 years of exploration. Total consideration consists of USD300,000 cash payment plus 5% royalty on future revenue. First USD150,000 deferred consideration cash payment payable November 20, the first anniversary of completion.
Current stock price: 0.80 pence; up 6.2% on Monday
Year-to-date change: up 26%
By Anna Farley; [email protected]
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