https://www.miningweekly.com
Africa|Botswana|Diamonds|Exploration|Mining|Pipe|PROJECT|Projects|Drilling|Pipe
Africa|Botswana|Diamonds|Exploration|Mining|Pipe|PROJECT|Projects|Drilling|Pipe
africa|botswana|diamonds|exploration|mining|pipe-company|project|projects|drilling|pipe

Botswana Diamonds to raise £300 000

7th September 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Aim-listed Botswana Diamonds has arranged a placing with existing and new investors to raise £300 000 through the issue of 50-million new ordinary shares.

The funds raised will be used to fund ongoing exploration activities in Botswana and South Africa this year, as well as for additional working capital.

The company is currently drilling kimberlite M8 on the Marsfontein licence in South Africa and has generated further kimberlite targets which will be drilled on the adjacent Thorny River concession.

In Botswana, the funds will be focussed on commercialising the KX36 project following the recent acquisition of Sekaka Diamonds from Petra Diamonds.

This will include finalising a work programme to upgrade the grades and diamond value of the kimberlite pipe, as well as investigating innovative mining options.

Drilling is planned for the adjacent Sunland Minerals property and, following further assessment of the comprehensive Sekaka database, more drilling targets are likely to be identified.

"This is a very active and exciting time for Botswana Diamonds. We are drilling the very promising M8 kimberlite at Marsfontein and further drilling is likely on targets identified on the adjacent Thorny River ground. We have a number of active projects.

"The recently acquired KX36 diamond resource in the Kalahari offers great potential. While awaiting final approvals from the Botswana authorities some of the funds raised will be used to detail the works we will do to refine grade, size distribution and value per carat,” says executive chairperson John Teeling.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Location map of the Antler copper project
Antler copper project, US – update
Updated 2 hours 58 minutes ago By: Sheila Barradas

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.094 0.146s - 93pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: