Botswana Diamonds raises ?500 000 for South Africa, Botswana exploration

JOHANNESBURG (miningweekly.com) – Aim-listed Botswana Diamonds has raised £500 000 to fund ongoing exploration in South Africa and Botswana.

The funds were raised through the issue of 50-million shares to new and existing investors at a price of 1p a share.

The company, which is led by MD James Campbell, on Tuesday said it and joint venture partner Alrosa had started exploration work on the Sunland Minerals project, in Botswana, with the aim of turning identified geophysical targets into drill targets.

Campbell recently also told Mining Weekly Online that progress was being made at its flagship Thorny River project, near Mokopane, in Limpopo, South Africa, where an inferred resource will soon be declared.

The project forms part of the Vutomi earn-in agreement.