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StrategyAfrican Diamonds PLC (AFD) was listed on the AIM market in London in July 2003 at 7p and on the Botswana Stock Exchange in February 2005. The shares have been trading in a range of 26.5p - 88.5p over the past twelve months (Feb '09). AFD is a diamond explorer developing the world class AK6 diamond mine in Botswana and exploring highly prospective diamond ground in Botswana and the DRC. The Company is chiefly focused on the Orapa region of Botswana, the most prolific diamond exploration and mining 'address' in the world, where the AK6 deposit is located. The AK6 mine is the only significant commercial diamond discovery in recent years. A Mining Licence was granted on AK6 for 15 years in October 2008 and production is expected from the 9.5Ha kimberlite pipe in 2011. Ownership of the deposit is AFD 29% and Lucara 71%. AK6 - Resource to 372m (+1mm) - 8.9M carats and 40M tonnes - Average grade 22cpht & modelled diamond value USD$137/ct - Significant quantities of rare, high value, Type II diamonds Below 372m, there is an additional kimberlite - 372-756m: 6.2M carats In addition to AK6, AFD holds a 100% interest in the AK8 and AK9 kimberlite pipes. AK8 is a 5Ha kimberlite pipe located 10km from AK6 and 10km away from the Debswana Orapa Mine. Studies suggest a resource of 20M tonnes to 300m, with a modelled diamond value of USD$35-190/carat. AK9 is a 3Ha kimberlite pipe located 10km from AK6 and 20km away from the Debswana Orapa Mine. Studies suggest a resource of 11M tonnes to 250m. Along with the Botswana interests, AFD also has significant diamond investments in the DRC, through a 35% investment in Bugeco and in West Africa, through a 9% interest in West African Diamonds PLC, where diamond and gold production will commence in Q2 2009. November 2009
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