NAD Namakwa DI.

TIDMNAD

RNS Number : 0940P

Namakwa Diamonds Limited

19 October 2012

19 October 2012

Namakwa Diamonds Limited (AIM: NAD)

("Namakwa Diamonds" or the "Company")

Batla Minerals Appeal Dismissed

On 30 November 2011 the High Court of Lesotho dismissed an action brought by Batla Minerals SA and its subsidiary, Toro Diamonds (Pty) Limited (together "Batla Minerals"), making claim to a 50% interest in the 62.5% of Storm Mountain Diamonds (Pty) Limited held by the Company. The costs of this action were awarded to the Company.

Batla Minerals subsequently appealed the decision which matter was heard by three Honourable Justices of Appeal in the Court of Appeal, Lesotho, on 12 October 2012.

On 19 October 2012 the Court of Appeal delivered its judgement dismissing the appeal of Batla Minerals in this matter, with costs. Namakwa Diamonds continues to hold a 62.5% interest in Storm Mountain Diamonds (Pty) Limited.

Batla Minerals has no further recourse in any court and the matter is now at an end.

For further information please visit www.namakwadiamonds.com or contact:

 
 Namakwa Diamonds                            Shore Capital 
                               +27 11 334                   +44 20 7408 
 Theo Botoulas                  8886         Pascal Keane    4090 
 
 Tavistock Communications 
                               +44 20 7920 
 Simon Hudson/Simon Compton     3150 
 

About Namakwa Diamonds Limited

Namakwa is a diamond resource group, which seeks to extract maximum value from the marketing and sale of Group mined and contracted production.

The Group's mining activities are focused on the Kao Mine in Lesotho. Operated by Storm Mountain Diamonds and its leading hard-rock mining team, with a proven track record in the construction and development of Lesotho's leading kimberlite pipes, the Kao Mine presents a 189Mt kimberlite resource of c.12.8m carats (c.4m indicated and c.8.8m inferred), with an additional 1.7m carats at a deposit level of confidence, in which Namakwa holds a 62.5% interest. The other shareholders are the Government of Lesotho 25% and Kimberlite Investments Lesotho Limited 12.5%.

The Group also maintains alluvial mining operations in the North West Province of South Africa and resource-development properties in the Northern Cape Province of South Africa and the offshore marine environment of Namibia.

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This information is provided by RNS

The company news service from the London Stock Exchange

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