| Notes |
History Diokeba Project
In 2002, the Diokeba gold project was acquired by North Atlantic Resources Ltd by application under the Mining Act of Mali. Diokeba is 500 km northwest of the capital Bamako, 100 km south of Kayes and 25 km southeast of the 14 MM ounce Sadiola open-pit Gold Mine (Anglogold-Iamgold).
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Effective December 1, 2005, Diadem signed letter agreements with North Atlantic Resources Ltd. (“NAC”) to enter into an option and joint venture agreement whereby Diadem would explore NAC’s 100%-owned Diokeba, Dalakan and Sinzeni gold properties in Mali, West Africa. To maintain these options, Diadem issued 7,812 common shares valued at $6,249 on March 27, 2006. During 2006, the Company decided not to continue with the foreign exploration program and terminated the agreements with NAC and Amex and accordingly wrote-off the acquisition and exploration costs.
Source: Diadem 2006 Annual Report P.12 [ http://www.diademresources.com/index.shtml - Retrieved on 05/07/07 - http://www.nac-;tsx.com/diokeba.php ] |