AGM Statement
23 11월 2009 - 9:00PM
UK Regulatory
TIDMWAD
RNS Number : 9196C
West African Diamonds PLC
23 November 2009
23rd November 2009
Highlights of the Chairman's statement
made at the Annual General Meeting of West African Diamonds,
London, 12 noon, 23rd November 2009
* The planned merger with Stellar Diamonds is proceeding well. A relisting of the
new enlarged entity is planned for early February 2010. It will create a bigger
diamond producer, capable of delivering a robust cash flow, holding an exciting
portfolio of advanced kimberlite projects.
* The new company will have:
* Two producing alluvial diamond mines in Guinea, Bomboko and Mandala, with a
resource base of over 1.5 million carats
* An advanced stage diamondiferous kimberlite exploration project at Droujba in
Guinea
* A joint venture with Petra Diamonds on the Koidu dykes in Sierra Leone
* A joint venture with Thunderball on the Pipe 3 kimberlite pipe and adjacent
dykes in Koidu
* A 5% royalty interest on the Plant 11 undersize tailings project in Sierra Leone
* Highly prospective diamond ground on the Tongo dykes in Sierra Leone
* The combined management team has extensive experience in diamonds in West
Africa.
* The new enlarged entity will be better placed to take full advantage of the
merger and growth opportunities available in West Africa and elsewhere.
Enquiries:
+----------+----------+----------------------------------+-------------------------+
| West African | |
| Diamonds plc | |
+---------------------+----------------------------------+
| | John Teeling, Chairman | + 353 1 833 2833 |
+---------------------+----------------------------------+-------------------------+
| | James Campbell, Deputy Chairman | +27 83 457 3724 |
+---------------------+----------------------------------+-------------------------+
| Astaire Securities | +44 (0)20 7448 4400 |
| plc | |
| Lindsay Mair | |
+---------------------+----------------------------------+
| College Hill | +44 (0) 20 7457 2020 |
| Nick Elwes | |
+----------+----------+----------------------------------+-------------------------+
www.westafdiamonds.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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