Brazilian Diamonds Limited - (Toronto ticker: BZDY)
website: www.braziliandiamonds.com



2009
Brazilian Diamonds is a leading Brazil-based exploration company focusing on the discovery of kimberlites in its 190,000 hectare properties in the States of Minas Gerais and Bahia, with the goal of becoming a significant producer of diamonds. The Company has been suffering from a net working capital deficiency that has forced it to consider the sale or disposal of certain assets, relinquishment of exploration licences, and the suspension and termination of its exploration activities, while actively pursuing joint venture partnering opportunities. This has led to the disposal of its laboratory facilities so as to raise cash to advance its Canasta 1 kimberlite project, planned to become one of the first kimberlites in Brazil to be mined economically. However the issue of a mining licence for this project is delayed by a long-standing National Park boundary issue with the Brazilian Congress. Meanwhile all the Company’s projects have been placed on a care and maintenance basis so as to conserve its cash reserves; a one for ten share consolidation was recently undertaken along with the cancellation of its AIM listing as a further cash conservation measure.

2008
Brazilian Diamonds is a leading Brazil-based exploration company focusing on the discovery of kimberlites in its 100% owned properties in the States of Minas Gerais and Bahia. Its diamond exploration databases were largely acquired from De Beers. The Company has been awaiting the approval of the Brazilian Congress to the boundaries set for the Sierra da Canastra National Park, and the exclusion therefrom of the Company’s development area of the Canastra 1 kimberlite, for which mine feasibility work has been completed, Mines Department approval granted, and commencement of trial mining only withheld pending this approval. Recoveries from the Salvador 1 Project have established that the kimberlite is diamondiferous and would feed the important alluvial deposits of Central Bahia, which has clear beneficial implications for further exploration work in the neighbouring downstream areas acquired by the Company.

2007
Brazilian Diamonds is a leading Brazil-based exploration company focused on the discovery of kimberlites in its 100% owned properties in the States of Minas Gerais and Bahia. Its diamond exploration databases were largely acquired from De Beers. The Company now awaits final approval before seeking local State environmental authorisation for the development of the Canastra 1 kimberlite, for which mine feasibility work has been completed and Mines Department approval granted. Mines Department and Bahia State environmental licences have already been obtained to start planned bulk testing on the Salvador 1 kimberlite; excavation work of trenches to collect large samples for further assessment of its diamond potential are expected to yield first results before the 2007 year-end. The company strategy for non-core activities on its properties is to form joint ventures. A feasibility study is also currently underway for a joint venture to mine alluvial diamonds on its San Antonio river drainage properties.