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Gold/Mining/Energy : DIAMONDWORKS DMW.v -- Ignore unavailable to you. Want to Upgrade?

To: WillP who wrote (379)	9/7/2001 11:10:14 AM
From: marcos	Read Replies (1) \| Respond to of 413

'test' - so, will that be by fire assay or caustic fusion? ... get any results back yet? -g- ... while i don't have the faintest what's up with this outfit lately, i do plan to look into it ... probably should, after nibbling on nominal .85s a month or two ago when there was a bit of news and volume and 'the depth looked good' .... another bit of news this morning - DiamondWorks to acquire 80.1 per cent of Otterbea DiamondWorks Ltd (2) DMW Shares issued 244,879,016 Sep 6 2001 close $.750 Friday Sep 7 2001 News Release Mr. Jay Oness reports DiamondWorks has entered into an agreement to acquire 80.1 per cent of Otterbea International Ltd. (Pty.) Ltd., a company specializing in procurement and logistics into the African continent. The purchase price for the Otterbea interest is $5,406,750, to be paid by DiamondWorks through the issuance into escrow of 7,209,000 shares at a deemed price of 75 cents per share. The remaining 19.9 per cent of Otterbea is held by Anglovaal Mining Limited, a publicly listed South African mining company. In the event that the earnings (before tax) of Otterbea for the financial year from Sept. 1, 2001, to Aug. 31, 2002, is less than $2-million (U.S.), the purchase price will be reduced pro rata based upon the percentage deviation from this amount, at which time the number of shares representing the revised purchase price shall be released from escrow and the balance shall be returned to DiamondWorks for cancellation. As the Otterbea interest is held by a company controlled by Tony Teixeira, the chief executive officer and principal shareholder of DiamondWorks, the acquisition will constitute a "related party transaction" for the purposes of applicable securities laws. While the transaction will be exempt from the independent valuation and minority shareholder approval requirements under related party transaction policies, a committee of independent members of the DiamondWorks' board will commission an independent valuation of the acquisition. Closing is subject to satisfactory conclusion of reciprocal due diligence investigations and the receipt of regulatory approvals, including the South Africa Reserve Bank and the Toronto Stock Exchange. Otterbea, through a series of subsidiaries, operates in 14 African countries and has representative offices in Europe. Since 1960, Otterbea has traded as a principal and, through a substantial infrastructure which it has established throughout sub-Sahara Africa, provides comprehensive services to the mining industry, including transportation, warehousing, procurement, sales and distribution of essential equipment, and supplies. In the fiscal year ended June, 2001, Otterbea had consolidated gross revenues of over $13-million (U.S.) and net profit before tax and non-recurring items of approximately $185,000 (U.S.). It has working capital of approximately $3.35-million (U.S.) and employs approximately 60 people in its operations. Otterbea has been substantially restructured for the purpose of this transaction and management believes the earnings warranty of $2-million (U.S.) to be more indicative of Otterbea's anticipated performance in the coming year than historical results. (c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com

To: WillP who wrote (379)	4/23/2003 3:59:02 PM
From: marcos	Respond to of 413

' DiamondWorks signs MOU for Malawi fuel supply system DiamondWorks Ltd (2) DMW Shares issued 59,689,465 Apr 22 2003 close $ 1.60 Wednesday April 23 2003 News Release Mr. J. Scott Drever reports DIAMONDWORKS LTD. ANNOUNCES MOU WITH MALAWI FOR INFRASTRUCTURE AND SUPPLY OF PETROLEUM PRODUCTS DiamondWorks' wholly owned subsidiary, Petroplus Africa, has entered into a memorandum of understanding (MOU) to seek out financing and arrange for the construction of an oil pipeline and ancillary storage facilities (the projects) in the Republic of Malawi. Upon obtaining initial financing commitments for the projects, Petroplus shall be appointed to arrange and provide, fuel supplies, and petroleum products to Malawi. The MOU was entered into by Petroplus with the Ministry of Natural Resources and Environmental Affairs of the government of the Republic of Malawi. The MOU grants Petroplus the exclusive right, for a period of six months from the effective date, to carry out the due diligence necessary to arrange financing for the construction of approximately 400 kilometres of pipeline from Nacala, an East African port located in Mozambique, to Liwonde, a city located in Malawi between the two principal cities of Blantyre and Lilongwe. The storage facilities are to be of sufficient capacity for at least two months feedstock requirements for Malawi or in total approximately 60,000 tonnes of refined oil products. In the event a financing commitment is secured by Petroplus during the initial six-month period, the MOU will be automatically extended for an indefinite period. The MOU may be terminated upon 30 days notice, subject to certain conditions related to reimbursement of expenses. Petroplus will work closely on the due diligence and financing proposal with Petroplus International Marketing FZCO (Petroplus International), a wholly owned subsidiary of Petroleum International N.V., one of Europe's leading mid-stream oil companies and tank storage operators publicly listed in the Netherlands. Petroplus International is responsible for the procurement and financing of crude oil, and certain refined products on behalf of DiamondWorks, and is also the supplier of petroleum products to Otterbea International under its Zambian crude oil contract. Discussions with various financing institutions are relatively advanced and the company has received positive initial reactions from ABSA Bank and other potential financiers. The company views this arrangement with the government of Malawi as a significant milestone in applying the strategic advantages developed in its Zambian supply contract to leverage the company's position as a financier, and provider of infrastructure and related commodities for the nations of Africa. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com '