Motapa Diamonds Inc.
930 Harbourside Drive
North Vancouver, BC
V7P 3S7 Canada
Larry Ott PhD
Chief Executive Officer
office ph: 1-604-980-6770
cell ph: 1-970-560-0170
Motapa Diamonds has entered into a JV with Lucara Diamond Corp. (controlled by the very successful and wealthy Lundin family).
Lucara Diamond Corp. is spending $10 million dollars to earn a 70% interest in Motapa's Mothae diamond bearing pipe in Lesotho Africa.
The Mothae pipe is about 8.8 hectares in size (about 22 acres and lies only a short distance from the very profitable Letseng Diamond mine.
Lukas Lundin, president of Lucara, commented, “The recovery of large diamonds at this early stage is an encouraging start for the Mothae project.
Our proximity to Letseng, one of the world's most important producers of large diamond gemstones, provides further hope that Mothae could be the next success story in Lesotho." (April 21 news release)
Motapa is among the leading diamond explorers in Africa and has an interest in millions of acres of diamond-prospective properties. Joint ventures are with companies like DeBeers and Cameco while management and advisory board are first rate:
1. John Gurney (Chairman) is widely recognized as being the most influential person on how diamond exploration has evolved in the past 20 years through his research at the University of Cape Town.
2. Larry Ott (CEO) is a PhD geologist who ran the feasibility on Ekati (Canada's first diamond mine) for BHP.
3. Jim Rothwell (Director) is the former president of BHP Diamonds, former chairman of Dia Met (became Ekati),
Dr. Larry Ott, CEO of Motapa noted: "Sample grade and stone size distribution for Mothae continue to exceed the expectations that we had at the initiation of this bulk sampling program. With the C kimberlite domain delivering a sample grade well above historic results, we are increasingly positive about the economic viability of the Mothae kimberlite."
A valuation was carried out in December by Shlomo Tidhar of Galaxy Diamond Expertise SA ('Galaxy') on a parcel of 1088 carats as a followup to Galaxy's July 2008 assessment of the first 585 carats recovered in the bulk sampling program. The combined 1,673 carat parcel yielded an average price of $441 per carat.
The Galaxy report notes that, "The value results of both samples are highly influenced by the presence of large high value stones. The presence of stones of this type is highly unusual in most diamond profiles given the small size of the sample and suggests the potential for exceptionally high value stones similar to those from the Letseng mine."
A modeling exercise has been undertaken to attempt to estimate the likely value and size distribution expected from full scale commercial production." The size and value distribution modelling exercise yielded an estimated run of mine diamond value of approximately $822 per carat.
JV with DeBeers
DeBeers is fully funding a 2 year work program on Motapa's 1.6 million acre diamond prospect in Botswana Africa to earn a 51% interest.
The Motapa prospect has an outstanding diamond indicator mineral anomaly defined on the property.
JV with Cameco Corp./Pitchstone Exploration
Cameco and Pitchstone are spending more than $8 million dollars to earn 40% each in Motapa's uranium licenses in Gabon Africa.
Motapa has more than $4 million dollars in the bank and is funded by its JV partners for the next 2 to 3 years.
Motapa is the operator of the Mothae Pipe's ongoing diamond recoveries in which larger stones of up to 20 carat size are already being found.
Amazingly, Motapa has only a little more than 40 million shares outstanding!
This is a great little company...well managed and in expert strong hands.
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