Botswana Diamond's Board announced today that the company now holds 100% of the equity in Sunland Mineral, having acquired the 50% previously held by Alrosa for what they are calling a “nominal sum.” BOD is looking to move quickly and have already approached a potential new investor to acquire 50% of Sunland.
The prospective investor, described as “a significant diamond producer who has in place an experienced exploration team,” is reportedly quite keen to find new kimberlites in Botswana and would head up the exploration facet of the new Sunland team.
The new partner would come in to replace Alrosa after a change in their leadership led to different priorities than those of BOD-- where the former emphasised marketing strategies the latter focused on exploration.
After hopefully securing this new investor, BOD aims to hone in on the targets they identified in the Kalahari this year to begin drilling in 2019.
