🕐26.11.08 - 12:42 Uhr
West African Diamonds: Highlights of Chairmans Statement at AGM, London, November 26th 2008
26th November 2008
Highlights of Chairmans Statement at AGM
London, Wednesday 26th November 2008
At the AGM held today at 11am, West African Diamonds (AIM: WAD) (West
African Diamonds or the Company) provided an update on its
operations, the highlights of which are:
* West African Diamonds is active in both Sierra Leone and
Guinea
* In Guinea, the Bomboko alluvial mine is expected to come on
stream in H1 2009 at a rate of 6,000 tonnes of gravel a month, which
should produce 900 carats of good quality diamonds each month.
Production is expected to double during the first year
* Gold traces found in the Bomboko River will be further
investigated
* An active exploration programme will take place on the
Droujba kimberlites including bulk sampling and drilling
* In Sierra Leone, we are following up on the good results on
our Nimini Hills gold prospect
* We are actively pursuing joint ventures on our diamond
properties in Sierra Leone
* Discussions with interested parties which may lead to a
takeover of West African Diamonds continue
* Jim MacGregor has decided not to go forward for re-election
at the meeting and will step down as a member of the Board at the end of
this AGM
No other material information was disclosed during the update.
All
resolutions were passed at the meeting.
Jim MacGregor, a director of the
Company, decided not to stand for re-election and hence the proposal for
his re-election was not put to the meeting.
Consequently, Mr MacGregor
will be standing down from the Board with immediate effect.
He will
continue as adviser and consultant to the Company.
Enquiries:
West African Diamonds
John Teeling, Chairman
+ 353 1 833 2833
James Campbell, Deputy Chairman
+27 83 457 3724
Blue Oar Securities
Nick Lovering
Simon Moynagh
+44 (0) 20 7448 4400
College Hill
Paddy Blewer
Nick Elwes
+44 (0) 20 7457 2020
www.westafdiamonds.com
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