18th Jul 2019 12:16
(Alliance News) - Botswana Diamonds PLC said Thursday it raised GBP250,000 through a discounted share placing in order to fund its exploration projects in the southern Africa country.
Botswana Diamonds placed 50.0 million shares at 0.50 pence each to new and existing shareholders, representing 8.0% of the enlarged share capital of the firm.
Shares in Botswana Diamonds were 6.7% lower at 0.56 pence in London on Thursday.
"The use of funds will be to continue diamond exploration efforts in Botswana, progress the Thorny River bulk sampling programme, bring the Marsfontein dumps and gravels into commercial production with first diamond sales expected by the fourth quarter of 2019," Botswana said in a statement.
Following admission - expected on July 28 - Botswana Diamonds will have 626.6 million shares outstanding.
Related Shares:
Botswana Diam