[miningmx.com] – THE JSE could soon again have a listed marine
diamond miner, pending the results of a soon-to-be-conducted sampling off the
Namibian coast by TSX-listed Afri-Can Diamonds.
The company will on November 25 commence a 14-day sampling study at its 800-
square-km concession next to the famous Atlantic One Mining lease area, owned by
Namdeb and the government of Namibia.
Atlantic One faces the mouth of the Orange River and is the largest mined marine
deposit in the world, producing more than one million carats a year.
The sampling program would start later this month on areas where Afri-Can has found
concentration of diamonds on two different occasions.
Afri-Can CEO Pierre Leveille says the company already has a good understanding of
the asset, but that this sampling will enable the group to declare an official resource.
Post the sampling, Afri-Can will commence with trial mining on a 10-square-km area.
That is where a fund raising, to the tune of $3m to $4m, could coincide with a
secondary listing on the JSE.
For now, the listing is pencilled in for the first half of 2013.
“Because we’ve been active in the region for a long time, we think we can get some
better market activity there,’ Leveille said.
