Botswana Diamonds to Start Selling by End of Year

RAPAPORT... Botswana Diamonds has raised the funds needed to continueoperations, and expects to hold its first sale by the fourth quarter. The company, which has struggled with challenges that hitits bottom line, had questioned itsability to continue as a going concern. It had previously recorded losses due to currency fluctuations, an impairment charge, and the cost of buying Alrosa out of a joint venture. The GBP 250,000 ($311,737) the miner raisedthrough a sale of shares will help it continue exploration in Botswana and further thebulk-sampling program at its Thorny River project, it said last week. Image: A rough diamond. (James St. John)