21st Mar 2018 13:35
LONDON (Alliance News) - Botswana Diamonds PLC on Wednesday posted a widened pretax loss for its first half in what was a "very busy" six months.
The company's pretax loss widened to GBP178,000 from GBP136,000 in the six months to December. It recorded no revenue, given it currently has no producing assets.
On its Thorny River project in South Africa, Botswana made "significant" progress, completing drilling as well as sample analysis, and it is now working on a scoping study which it hopes to finish by the middle of the year.
A drilling programme has also started to extract samples for microdiamond analysis at Ontevreden, and in the Free State, Botswana is to conduct further sampling, which it hopes to finish in the first half of 2018.
In Botswana, the firm is continuing exploration work to follow up identified geophysical targets as it tries to identify drilling targets. It is currently reviewing its Sunland Minerals joint venture with Alrosa.
Shares were down 3.2% on Wednesday at 1.21 pence each.
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