Vutomi has a portfolio of more than 20 high-priority kimberlite, many of which are diamondiferous, in Limpopo, Free State and North West Province of South Africa.
The total area of 10 exploration concessions to companies, on which the data kimberlites, covers more than 50 000 hectares. The flagship project of Vutomi Frishgevaagt (Frischgewaagt) is located in the Limpopo province, 300 km north of Johannesburg and is located in the immediate vicinity of the mine Marsfonteyn (Marsfontein), which formerly belonged to De Beers.
Sampling program that was conducted in 2016, shows the approximate cost of the diamonds on the project in the amount of $ 180 per carat after examining 247 carats of diamonds, as well as the intersections of kimberlite.
Botswana Diamonds has agreed to pay Vutomi a total of £ 942,000 in cash, of which £ 581,000 will be used to fund exploration work.
In addition, Botswana Diamonds will release 100 million ordinary shares at a price of 0.25 pounds each for Vutomi shareholders, after which the company will own a 72% stake Vutomi.
Executive Director of the Botswana Diamonds Dzhon Tiling (John Teeling) said that the opportunity to cooperate with Vutomi is "too good" to skip it.
"With luck and good coherence, we for one year could take advantage of this exploration projects at an advanced stage of development and to develop it to the point where we will have a good idea of its financial outlook," - he continues.
"We are currently conducting exploratory drilling of the main section, and in the next quarter will get more size and content of the indicators Diamond Now we need to see if the quality is enough to have these diamonds to mine was a viable Preliminary data are encouraging.." - added Teeling.
At the same time, the director of Botswana Diamonds said that the next stage of geological exploration joint venture with ALROSA in regions Orapa (Orapa) and PIMU (Gope) will begin in March 2017.
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The group of companies Rio Tinto and retailer Pure Gold Jewellers announced the creation of an exclusive partnership for the sale of a collection of jewelery with Nazraana diamonds in the Middle East. Jewelry Nazraana, created from 18-cathartic gold, combines tradition, beautiful design and affordable prices. Fashionable jewelry will fit any style. Floral ornaments are the main theme of Nazraana's products - necklaces, earrings, bracelets and rings.
Pure Gold Jewelers General Manager Karim Merchant said: "Pure Gold is very proud to have become an exclusive partner of Rio Tinto in order to present the exquisite Nazraana collection to our demanding customers in the Middle East.The Nazraana collection represents an important concept, And is concentrated on the segment of gift and wedding jewelry.
We are looking forward to the opportunity to present this collection in the region (Middle East). " Vikram Merchant, managing director of the Indian representative office of Rio Tinto and responsible for the development of the Nazraana brand, said:" Rio Tinto sees great opportunities for cooperation with jewelers Pure Gold, Which will fill the niche jewelery market for festive occasions at democratic prices. Pure Gold Jewelers, which has more than 25 years of experience in the Middle East and is a rapidly growing retail chain of jewelry stores, has become the most obvious partner of the Nazraana brand in the region. "
Nazraana, whose concept is based on royal gifts from past eras, Plans to increase its share in the wedding gifts market due to affordable jewelry jewelry with diamonds. Now, Pure Gold Jewellers customers will have access to a new ambitious collection of diamond jewelry created especially for the festival season.
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