Kopane Diamond Developments PLC

June 18, 2008 07:32 ET

Results of EGM and Issue of Equity

                                               PRESS RELEASE
                                      KOPANE DIAMOND DEVELOPMENTS Plc
                                     (FORMERLY EUROPEAN DIAMONDS Plc)
                                              (the "Company")
18 June 2008
                                    RESULTS OF EGM AND ISSUE OF EQUITY
The  Company is pleased to announce that, further to its announcement on 27 May 2008, all resolutions  were
successfully passed by shareholders at the Company's Extraordinary General Meeting held today.

As a result of this the Company announces that it has issued 40,300,000 ordinary shares of 5p each.

Application has been made for these shares to be admitted to AIM and admission is expected on or  about  20
June 2008.  Following the admission of these shares to AIM, the Company's issued share capital will consist
of 169,611,283 ordinary shares each with voting rights. The Company holds no shares in Treasury.

Tim  Read,  the  Company's Executive Chairman today commented "We are delighted by  the  support  shown  by
shareholders. Now that the Company's funding requirements have been resolved, management can concentrate on
completing the DFS, which we are confident will demonstrate the Liqhobong Main Pipe project to be a  highly
valuable asset."

About Kopane
Kopane  is a diamond producer, developer and explorer with core projects at Liqhobong in Lesotho,  Southern
Africa. The Liqhobong operations are operated by Liqhobong Mining Development Company ("LMDC") which is 75%
owned by Kopane and 25% by the Government of Lesotho ("GoL"). As a result of the successful development  of
the operations at Liqhobong and the delineation of a substantial geological resource in the Main Pipe, LMDC
was, in February 2007, granted a 20 year mining licence for the Main Pipe by the GoL.

LMDC has to date produced over 270,000 carats of diamonds since operations commenced at the end of 2005 and
is  currently  producing at a rate of 160,000 carats per annum. This production is sold in Antwerp  through
BHP  Billiton. The principal development project is the Main Pipe, currently the subject of a DFS  expected
to  be completed by end 2008. This project has the potential to produce at a rate of one million carats per

Kopane  also  has  a  joint  venture to explore for diamonds in Finland, managed  and  financed  by  Mantle
Diamonds.  Kopane has recently placed 60 million new ordinary shares to raise £6 million These  funds  will
provide  finance for the Company through the completion of the DFS and the Environmental and Social  Impact

Kopane  Diamond Developments Plc (formerly European Diamonds Plc) is listed on the AIM Market of the London
Stock Exchange and its shares trade under the symbol KDD.

For further information contact:                     
Kopane Diamond Developments Plc                      Threadneedle Communications
Tim Read, Executive Chairman                         Laurence Read/Graham Herring
James Cable, Finance Director                        +44 (0) 20 7936 9600
+44 (0) 20 7529 7502                                 

Canaccord Adams Limited
Robert Finlay
Bhavesh Patel
+44 (0) 20 7050 6500

e-mail: ir@kopanediamonds.com
website: www.kopanediamonds.com

Contact Information

  • Kopane Diamond Developments PLC