Botswana Diamonds seeks to raise £300,000 in share offering

Irish explorer Botswana Diamonds is seeking to raise £300,000 (€335,041) in a share offering to fund ongoing activities in Botswana and South Africa during the current year.

The company is currently drilling kimberlite M8 on the Marsfontein licence in South Africa, and has generated further kimberlite targets which will be drilled on the adjacent Thorny River concession.

In Botswana the funds will be focussed on commercialising the KX36 project following the recent acquisition of Sekaka Diamonds from Petra Diamonds.

"This is a very active and exciting time for Botswana Diamonds," said company founder John Teeling. "We are drilling the very promising M8 kimberlite at Marsfontein, and further drilling is likely on targets identified on the adjacent Thorny River ground.

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“We have a number of active projects. The recently acquired KX36 diamond resource in the Kalahari offers great potential.

“While awaiting final approvals from the Botswana authorities some of the funds raised will be used to detail the works we will do to refine grade, size distribution and value per carat.”