russ. port.
| Moydow Mines signs Diamond Exploration Agreement Canadian-based Moydow Mines announced this
week that it had signed a deal with Endiama, the Angolan state
diamond company, to explore for diamonds. According to the agreement,
Moydow and its Nevada, USA-based partner Concord Minerals will
have a combined 33 percent interest in the Dala diamond property.
The two companies will be responsible for the exploration and
development of the area. "We consider the Dala licence
to be one of the most prospective licences in t he country and
we are already moving people and equipment into the area,"
Brian Kiernan, president and CEO of Moydow, said in a company
press release. "We expect to be fully operational on the
licence in the next several weeks. Follow-up work will depend
on results obtained, but we have budgeted for an aggressive
exploration campaign over the next 12 months," he added.
 Embassy of Republic of Angola, 2005 |