I am an experienced diamond explorer who has established successful diamond mines.
My strategy involves revisiting sites previously deemed unprofitable and conducting thorough studies for improved outcomes.
THREAD 🧵: On a Date with Botswana Diamonds (BOD)
#1. - History
In 2010, Lucara Diamond acquired the AK6 diamond resource in Botswana's Orapa region from African Diamonds.
Lucara's expertise and financial strength transformed AK6 into the Karowe Mine, a world-class diamond mine.
Botswana Exploration, later Botswana Diamonds, was born from a pivotal spin-off of African Diamonds.
This move allowed focused exploration and development, free from the complexities of AK6, positioning Botswana Diamonds to lead new discoveries in mining.
Kimberlitic Searches, a De Beers subsidiary, began looking for diamonds in Botswana in 1954.
In 1959, Central African Selection Trust (CAST) found three small diamonds, hinting at Botswana's immense potential.
1970, De Beers discovered the kimberlite A/K6
De Beers found the diamond-bearing pipe sub-economic and considered selling AK6 due to poor mineral quality and limited resources
African Diamonds, seeing potential then took over the project, driven by innovative mining techniques that aimed to unlock value.
#2 - Operations
BOD explores and develops diamond deposits in Southern Africa, focusing on the Kalahari in Botswana and Thorny River/Marsfontein in South Africa.
These areas offer high gem potential, positioning BOD as a leader in diamond mining.
Botswana,
The 100% owned KX36 discovery near Gem Diamond Ltd’s Ghaghoo mine is being reassessed.
BOD is active on Sekaka Diamonds Ltd and Sunland Minerals Pty Ltd licenses. It has also increased its stake in the Maibwe joint venture to 26%.
South Africa
Marsfontein was placed on care and maintenance due to rising fuel costs and falling diamond prices.
The mining of Marsfontein dumps and dykes is mainly to gather information and experience before mining the nearby Thorny River deposits.
BOD applied for Thorny River mining permits in 2022 and is making good progress with community support.
Samples from the Reivilo group, fully owned by BOD, are being analyzed and have previously shown diamond presence.
Eswatini
BOD was awarded a prospecting license. Partnering with local experts, it is currently conducting a comprehensive desktop study.
The study aims to assess geological data and potential resource sites, setting the stage for future operations.
#3 - Competitors
BOD is a leading junior diamond exploration company that is heavily focused in Southern Africa. The industry is concentrated with big players such as,
Petra Diamonds
Alrosa
Gem Diamonds
De Beers
Rio Tinto
Lucara Diamonds
Firestone
#4 - Share price,
0.16 BWP per share as at Aug 9, 2024
0.15 BWP per share on the 3rd of Jan 2024
11th on ranking in terms of year to date performance on the BSE
32nd most traded stock over the past 3 months to Aug 9, 2024
1,198,002,899 issued shares
#5 - Management,
James Campbell – Managing Director
James has over 35 years of experience in the diamond industry, having worked for Anglo American, Rockwell, and Lucara.
He previously served as a personal assistant to Nicky Oppenheimer and studied geology
Nicholas (Nicky) Oppenheimer is the great grandson of Ernest Oppenheimer the founder of Anglo American plc.
Anglo American is a multinational mining firm that produces platinum, diamonds, copper, nickel, iron ore and steelmaking coal.
Each week will be on a Date with a company listed on the @TheOfficialBSE.
The purpose of this thread is to have a minimum appreciation of listed firms.
Disclaimer: Do not misconstrue this thread as investment advise DATE companies before you buy its shares