RE:RE:RE:RE:More at 2.55We should remember that the sale of LLR is not solely under the control of Lucara - the GRB (Government of the Republic of Botswana) has to be in agreement with the details of special sales.
"Boteti will hold an open tender for diamond sales in Botswana and may, with GRB approval, offer open tender sales internationally. Boteti will ensure that Botswana-based buyers are invited to participate in all open tender sales, irrespective of the location of such tender offers.
Any non-open tender sale of diamonds by Boteti (including any exclusive sales contracts) will be subject to prior approval by the GRB.
The Boteti Diamond Valuator (“BDV”) and the GDV (Government Diamond Valuator) shall value and agree the pre-sale valuation price of Boteti diamonds prior to any sale. Costs of valuation by the GDV will be for the GRB account while sorting and valuation costs of the BDV will be for the account of Boteti. Subject to Section 66, of the Mines and Minerals Act royalties payable will be based on actual sales price received by Boteti in the case of sales from open tendering, and actual sales price as agreed by Boteti, GDV and the purchaser or sales from non–open tenders."