vast resources plc said tuesday that it wont proceed with the agreement to acquire gem diamonds ltds ghaghoo diamond mine in botswana as part of the original deal signed in august vast resources and botswana diamonds plc were to acquire the mine for 4 million under the terms of a joint venture in which botswana diamonds holds a 10 interest vast resources was responsible for funding the first 15 million required for due diligence acquisition and placing the mine back into production botswana diamonds said it has identified alternative potential partners to replace vast resources and intends to conclude the acquisition as soon as possible the three companies have agreed to extend the long stop date for the deal to march 31