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From: Nigel
ArtDate: 17th January 2007
Section: (FILLYABOOTS NEWS RELEASES)
Remote Name: 87.74.114.115
Date: 27/01/07
Time: 10:30
17th January 2007
Dwyka Announces Diversified Growth Strategy - Acquires Burundian Nickel Project
News Item - Conduit PR
- Muremera nickel project acquired (located within 2km of the world-class Kabanga deposit) for an upfront payment of US$2M worth of Dwyka shares.
- Maximum remaining consideration of US$3M (Dwyka shares) subject to project milestones.
- Intention to raise up to A$5M by way of a shareholder share purchase plan (“SPP”) and a further placement. The SPP (which is conditionally underwritten by Montagu Stockbrokers Pty Ltd) will enable all Dwyka shareholders to subscribe for up to A$5,000 worth of Dwyka shares at A$0.31 per share, being a 20% discount to market price.
Dwyka Diamonds Limited (“Dwyka” or “the Company”) (London AIM & ASX) today announces its intention to seek new growth opportunities as part of its ongoing strategy of growth and diversification.
Dwyka’s core strength is the rapid and low cost development and operation of mining projects. As Dwyka seeks new growth platforms, it is a natural next step for the Company to apply this core skill to a wider range of commodities in order to deliver value for shareholders.
Edward Portman Conduit PR Ltd 76 Cannon St London EC4N 6AE Office: +44 (0) 20 7429 6666 Direct: +44 (0) 20 7429 6607 Fax: +44 (0) 20 7429 6699 Mob: +44 (0) 773 3363 501
www.conduitpr.com
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