Tlou Energy Limited, the AIM and ASX listed natural gas explorer says funding discussions have progressed with a key funding partner for its Lesedi Power Project in Central District of Botswana. The company has been working with a number of parties to secure funding for the project. Tlou is seeking project finance to build a transmission line from the Lesedi power project to the existing electricity grid as well as electrical sub-stations, gas and solar generation assets. “The most advanced project finance discussions are currently with a very reputable Botswana based entity. Due to confidentiality the Company is unable to name the entity concerned at this time,” the company said…
Author: Editor
ThreeD Capital Inc., a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, has announced Premium Nickel Resources (PNR) has been selected as the preferred bidder in the BCL Liquidation Process. ThreeD Capital owns 6,716,456 shares of PNR, representing a 9.13% ownership in the company. Furthermore, Sheldon Inwentash, Chairman & CEO of ThreeD Capital is on the Board of Directors of PNR. In June 2020, PNR submitted an indicative offer to the BCL liquidation trustee (the ” Trustee “) to acquire the former producing Selebi-Phikwe, Tati-Phoenix and Tati-Selkirk mines as well as regional…
Botswana Diamonds (BOD) said it has entered into a cooperation agreement to fund exploration of its prospecting licence assets in Botswana with Diamexstrat Botswana Pty Ltd (DESB), which in turn has an alliance agreement with Burgundy Diamond Mines Limited (BDM). BOD’s prospecting assets comprise the recently acquired Sekaka Diamonds Exploration Pty Ltd database and Prospecting Licenses, as well as the Prospecting Licences held by BOD’s subsidiary, Sunland Minerals Pty Ltd. Under the cooperation agreement, DESB (and its partner, Burgundy) can earn up to a 70% interest in BOD’s Botswana Sunland Minerals and Sekaka’s Prospecting Licences while BOD can earn a…
Diamond miner De Beers has revised its production targets for the new year on the back of many difficulties the industry is facing and lower output from one of its operating mines. When announcing Production Report for the Fourth Quarter of 2020, the company noted that the guidance has been lowered to 32-34 million carats from the previous figure of 33-35 million carats. “Production guidance(1)is revised to 32-34 million carats (previously 33-35 million carats) (100% basis), subject to trading conditions, due to ongoing operational challenges and lower expected production from the final cut at Venetia,” De Beers said. According to…
Wilderness Safaris said it parted ways with the unnamed member of staff who was seen in a video violating an employee of the ecotourism group. The company said in a statement it was aware of the video circulating on social media of what appears to be a senior member of staff in a physical altercation with a fellow employee. Wilderness added it watched this video with as much disappointment and frustration as the public, for “we have zero tolerance for violence of any form and this is well documented in our Code of Conduct”. The company revealed that although the…
Lucara Diamond Corp. has recovered a magnificent unbroken Type IIa 378 carat gem quality top white diamond recently from its 100% owned Karowe Mine. The stone was recovered from milling of ore sourced from the M/PK(S) unit of the South Lobe. This recovery is the 2nd +300 carat gem quality diamond to be recovered this year from direct milling of the M/PK(S) unit, a further testament to the strong resource and process circuit performance at Karowe. The 378 carat and the 341 carat diamonds were recovered from the Coarse XRT circuit. Lucara’s CEO Eira Thomas said the superb 378 carat diamond…
Tlou Energy Limited has said a pilot Power Purchase Agreement (PPA) has been fully executed between the company and Botswana Power Corporation (BPC) for the first 2MW of power from the Lesedi project. Tlou noted in an update that a grid connection agreement has also been signed which enables the injection of power into the BPC grid. These are key agreements that will facilitate development of the power project and the sale of first power. In addition, Botswana’s Ministry of Mineral Resources Green Technology and Energy Security (MMGE) has provided confirmation that negotiations on a larger PPA are due to commence in February. “It is great to see…
The South African Cross Country Series (SACCS) and Botswana Tourism Organisation (BTO) in consultation with their stakeholders have announced that the 2021 Toyota 1000 Desert Race (TDR 1000) has been called off. SACCS announced, following a recent virtual meeting, that the decision to postpone the 2021 TDR 1000 had been taken due to the uncertainty posed by the surge of COVID-19 cases in the region as well as the discovery of the new COVID-19 variant. “This decision was not taken lightly and was influenced by the rapid increase of active COVID-19 cases across South Africa in the last few weeks,…
Investing in African Mining Indaba (Mining Indaba), part of Hyve Group Plc, has announced that Botswana President Mokgweetsi Masisi, has confirmed to deliver his presidential keynote address at the upcoming Mining Indaba Virtual. “The organisers are delighted to confirm that H.E. Mokgweetsi Masisi, President of Botswana will be joining the already confirmed H.E. Cyril Ramaphosa, president of South Africa, H.E. Félix Tshisekedi, president of the Democratic Republic of Congo (DRC) and H.E. Julius Maada Bio, president of Sierra Leone, at Mining Indaba Virtual which will be held next month, 2-3 February 2021.” The mining sector continues to be seen as the…
Lucara Diamond Corp and Lucara Botswana (Proprietary) Limited have announced that the application for the renewal of mining licence No 2008/6L in respect of its AK06 (Karowe) Mine has been approved by Botswana’s Minister of Mineral Resources, Green Technology and Energy Security. According to Lucara, the renewal is effective January 4, 2021 for a period of 25 years, securing Lucara’s mining rights to 2046 and marks a critical step in the formal sanction of the Karowe underground expansion project. Lucara Diamond Corp president and CEO Eira Thomas said they looked forward to continued cooperation and a mutually rewarding partnership with the Government of Botswana. “The…