Vast Resources & Botswana Diamonds talk acquisition of Ghaghoo diamond mine

Vast Resources PLC (AIM:VAST)'s Andrew Prelea and Botswana Diamonds PLC (AIM:BOD)'s James Campbell speak to Proactive's Andrew Scott following the news they've agreed to buy Gem Diamonds Ltd's Botswana subsidiary, owner of the Ghaghoo diamond mine, for US$4mln (£2.9mln) in cash. The acquisition will be made through Okwa Diamonds (Pty) Ltd, a joint venture between Vast, which has a 90% interest, and Botswana Diamonds. Prelea says the acquisition of Ghaghoo will provide them with a high quality and previously producing diamond asset benefiting from world-class infrastructure and capable of generating material revenues in the near term.