Botswana Diamonds says there is interest from a new investor in acquiring the Ghaghoo mine, in Botswana.
It said Ghaghoo, which is currently under care and maintenance, together with KX36, the new anomaly, if diamondiferous, and the Maibwe licences, in which Botswana Diamonds is a joint venture partner, could provide the core for a new diamond-producing area in Botswana.
“We are examining a proposal to use data analytics and Artificial Intelligence techniques to evaluate the data,” said company chairperson John Teeling.
“We strongly believe that this approach will identify new targets.”
The KX36 project is a 3.5-hectare kimberlite pipe in the Kalahari.
The pipe has resources of 17.9 million tonnes (Mt) at 35 carats per hundred tonnes (cpht) (indicated) and 6.7Mt at 36 cpht (inferred) at $65 per carat.
The modelled grade range is 57–76 cpht at an estimated diamond value of up to $107/ct, said Teeling.
Meanwhile, Botswana Diamonds said any of its discoveries in 2024 is unlikely to come into production before 2032.
“But it is important to realise that the shareholder base for explorers differs radically from that of producers,” said Teeling.
“A successful diamond find would be expected to ratchet up the share price and provide liquidity for shareholders wishing to cash out.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
