STOCKS NEWS UK-African Diamond up on AK6 project update

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14:45GMT 11Nov2009-African Diamond up on AK6 project update

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Shares in African Diamond (AFD.L) rise as much as 20 percent after De Beers sells its entire 71-percent stake in the AK6 Botswana diamond project to Lucara Diamonds (LUC.V), in a move expected to accelerate development of the mine.

FinnCap calls the announcement a crucial turning point, long awaited by African Diamonds.