Namdeb has a 51% interest in the project, which can be increased to 65% by supplying sole funding for exploration and evaluation work until the completion of a feasibility study.
According to the statement, in the next two years Namdeb will invest at least US$4.48 million. During the first year, focus will be placed on defining the limits of the Omatako garnet anomaly, primarily through drilling. The company will also carry out orientation work using the De Beers Spectrum system, which conducts an aerial, electromagnetic survey.
The price tag for the first year's work is estimated at US$1.56 million.
The second year's programme will depend on the first year’s results. The company is considering using De Beers’ equipment to conduct an airborne gravity survey. A decision regarding which equipment to use will be made according to conditions at the site.