Botswana Diamonds has received £ 525,000 through the placement of 35 million new ordinary shares to existing investors at a price of 1.5 pence per share.
According to the company, the proceeds from the placement will be used to fund ongoing programs kimberlite drilling on the project Frishgevaagt (Frischgewaagt) in South Africa, well drilling program in Botswana, as well as for exploration work in South Africa.
Also, some of these funds will be used to finance the first phase of the exploration program ALROSA / Botswana Diamonds 2017 in the regions of Orapa (Orapa) and PIMU (Gope).
"Our exploration activities are gaining momentum - said the executive director of the Botswana Diamonds Dzhon Tiling (John Teeling) -. We are drilling Frishgevaagt project at an advanced stage of exploration in South Africa, and will soon begin drilling in Botswana."
He said the team ALROSA also assume his field exploration in early March.
"Both the drilling program will be completed by the end of March, after which we expect the evaluation period, which will take six to eight weeks," - Teeling said.
"Thanks to the investments we will be able to fund these programs, and I look forward to the opportunity to provide our shareholders further news in the future," - he concluded.
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Lucapa Diamonds reported that in the auction of the sixth consignment of diamonds from the Lulo concession in Angola, it received 5.1 million Australian dollars.
A statement for the company's shareholders said that in total, Lucapa managed to sell 1,621 carats of diamonds at an average price of A $ 3132 per carat.
This indicator, as noted in the company, was achieved despite the current weakening of the global diamond market.
"The excellent average prices per carat we managed to earn for our diamonds significantly increases the value and planned revenues for every cubic meter of alluvial gravel extracted from Lulo," said Lucapa CEO Stephen Wetherall.
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