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Market NewsNewsBotswana Diamonds raises £500,000 for exploration

Botswana Diamonds raises £500,000 for exploration

Shares in Africa-focused Botswana Diamonds received a much-needed boost on Wednesday after the miner announced it had has raised £500,000 (about $695,060 at current rates) to fund ongoing exploration in South Africa and Botswana, mining.com reported.

The company said the sum was collected through the issue of 50-million shares to new and existing investors at a price of 1p a share, the mining.com report said.

Proceeds from the placing will fund ongoing diamond exploration in South Africa and Botswana, and will also provide the company with additional working capital, Botswana Diamonds said in the statement. according to the mining.com report.

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