Motapa provides 1Q financial statements

Motapa Diamonds Inc., among the leading diamond explorers in Africa, has filed its interim consolidated financial statements and its Management Discussion and Analysis for the 3 months ended May 31, 2008 with regulatory authorities.

The interim consolidated financial statements were prepared by management in accordance with Canadian generally accepted accounting principals and were not reviewed by Motapa’s auditors.

The company said that with completion of the erection and commissioning of the processing plant in late February, processing of the planned 30,000 tonne composite bulk sample commenced at Mothae, Lesotho.

Processing of individual samples from different kimberlite phases during the quarter provided an early indication of the diamond potential of these phases, with a total of 480 diamonds, together weighing 234.7 carats, having been recovered by quarter end. By the end of the Phase 1 sample this number had increased to 1,296 diamonds weighing a total of 585.15 carats, with tailings audit results still outstanding.

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