African Diamonds - The Stock of 2004

SUNDAY TELEGRAPH



Market miscellany



Edited by Grant Ringshaw (Filed: 13/03/2005)



African Diamonds

Take a look at African Diamonds (59p), the Aim-listed mining exploration company. It owns 49 per cent of a joint venture that owns 29 known kimberlite rock deposits in Botswana, which it is assessing as economic sources of diamonds. So far the tests have been encouraging and a full-scale exploration programme is getting under way. However, the rumour from southern Africa is that African Diamonds' 51 per cent partner in the project, the diamond giant De Beers, likes the look of the scheme and is considering buying out its junior partner. It may be an idea to get in there first. Buy.