Source - SMW
Botswana Diamonds (LON:BOD) was the sector's biggest faller after inconclusive results on material from two drill holes.

 Botswana Diamonds said its 50:50 joint venture with Alrosa, the world's leading diamond producer, will start next stage exploration at the end of September in the Orapa and Gope areas of Botswana.

Botswana Diamonds says that four core holes will be drilled in Gope on PL 135; two core holes will be drilled on kimberlite AK22 on PL 260 in Orapa and two core holes will be drilled on PL 085 in Orapa.

It says an intensive programme of geophysics and soil sampling will be carried out on the 4 other licences held in Gope and an Alrosa team of 7 specialists will be joined by Botswana Diamonds geologists and support crew.

Botswana Diamonds says final results are still awaited from the analysis of the 80 tons of material recovered from the two Large Diameter Drillholes (LDD) on kimberlite AK21 on licence PL 260 in Orapa. 

Delays in finding a company in South Africa capable of concluding the work were compounded by an inconclusive result. 

Concentrate is being returned to Botswana for evaluation by Alrosa specialists. 

Core which came from earlier boreholes on AK 21 is being sent to a laboratory for caustic fusion analysis.

Chairman John Teeling said: "The Alrosa/Botswana Diamonds Joint Venture will shortly begin an intensive twelve week exploration programme on our ground in Botswana. 

"Core holes will be drilled on three licences, two on the known kimberlite AK22 in Orapa, two on licence PL 085 also in Orapa and four on licence PL 135 in Gope. Earlier work has pinpointed sites we believe may contain new diamondiferous kimberlites.

"We are drilling two holes on AK 22, a known kimberlite containing diamonds. 

"We had expected to have the results from a bulk sample of 80 tons of materials on an adjacent pipe AK 21 but lack of processing capacity in Botswana and issues with a facility in South Africa have to date produced inconclusive results. We are having to re-examine the concentrate as well as analyse fresh core from earlier drillings.

"We will also run electromagnetic and Transient Electro Magnetic (TEM) studies and soil sampling programmes across 6 licences. Initial results are expected by year end. We are funded for this phase of exploration."

* * *

Vedanta Resources (LON:VED) subsidiary Vedanta Limited has announced that shareholders have approve the merger with Cairn India Limited.

The equity shareholders, secured creditors and unsecured creditors of Vedanta Limited at their respective meetings approved the scheme of arrangement of Cairn India Limited with Vedanta Limited.

The scheme is now subject to the approval of the jurisdictional High Courts, and other regulatory approvals. 

* * *

Eurasia Mining (LON:EUA)  has announced the acceptance of its first batch of concentrate at the Ekaterinburg non-ferrous metals processing plant.

The concentrate was weighed on entry to the plant as 574.18 grams of raw platinum concentrate. 

Under the terms of Eurasia's agreement with EZOCM, the refinery will now separate pure platinum and gold from waste (mostly iron) in the concentrate. The refined metals are then sold to the refinery. 

Managing director Christian Schaffalitzky said: "This acceptance receipt represents the first step on a long road through development at the West Kytlim project. We now look forward to steady state production from the mine site once a necessary upgrade to our water supply system is completed. We appreciate our stakeholders' patience and salute the hard work and diligence of our co-workers and colleagues in Ekaterinburg and at the mine site."

* * *

SolGold (LON:SOLG) said Maxit Capital LP has appointed Scott Caldwell as a Non-Executive Director of the company. 

* * *

The sector's biggest riser was Ncondezi Energy - up by 11.9% in late trading.

At 4:23pm:

(LON:BEM) Beowulf Mining PLC share price was +0.01p at 4.38p

(LON:BKY) Berkeley Energia Ltd share price was 0p at 46.5p

(LON:BOD) Botswana Diamonds PLC share price was -0.43p at 1.55p

(LON:CEY) Centamin PLC share price was -5.65p at 151.25p

(LON:CHL) Churchill Mining PLC share price was +1.63p at 29p

(LON:CZA) Coal of Africa Ltd share price was +0.03p at 3.6p

(LON:EUA) Eurasia Mining PLC share price was 0p at 0.65p

(LON:FDI) Firestone Diamonds PLC share price was +1p at 46p

(LON:FRES) Fresnillo PLC share price was -59.5p at 1637.5p

(LON:GEMD) Gem Diamonds Ltd share price was -3.75p at 124.5p

(LON:HOC) Hochschild Mining PLC share price was -13.8p at 263.4p

(LON:KMR) Kenmare Resources PLC share price was -2.5p at 262.5p

(LON:NCCL) Ncondezi Energy Limited share price was +0.5p at 5.75p

(LON:SOLG) SolGold PLC share price was +0.13p at 11.63p

(LON:VED) Vedanta Resources PLC share price was -20.25p at 507.75p

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Botswana Diamonds (BOD)

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Eurasia Mining (EUA)

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SolGold (SOLG)

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Vedanta Resources (VED)

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