Botswana Diamonds Raises £500,000 from Share Placing

(IDEX Online News) – Botswana Diamonds plc announced that it has raised £500,000 ($722,000) (before expenses) after placing more than 33 million new ordinary shares with new and existing investors.

The net proceeds of the placing will fund ongoing diamond exploration in Botswana, a 50:50 joint venture with Russian miner, ALROSA, as well as providing Botswana Diamonds with additional working capital.

“We have a very active ongoing drilling, sampling and geophysics programme on our ground in Botswana,” said Botswana Diamonds chairman John Teeling. “We expect this work to continue through the rest of 2016.  This placing ensures we are fully funded.”