West Perth-based Bonaparte Diamond Mines NL is in advanced negotiations to secure several offshore and onshore diamond projects in neighbouring African nations, which it hopes to commence exploring in early 2006. Managing director Mike Woodborne said these mineral interests were part of a refocused regional play. Under an agreement with Namibian company Meduletu Minerals, Bonaparte will acquire an 80 percent interest in a joint venture for exploration and development of exclusive prospecting licence (EPL) 3073 - a highly prospective marine diamond area covering about 360 sq km -when its total exploration expenditure reaches 300,000 dollars.
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