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Rapaport News
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Botswana Diamonds to Start Selling by 4Q
Company raised money needed to continue operations.
Jul 22, 2019 8:31 AM
By Rapaport News
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RAPAPORT... Botswana Diamonds has raised the funds needed to continue
operations, and expects to hold its first sale by the fourth quarter.
The company, which has struggled with challenges that hit
its bottom line, had questioned its
ability to continue as a going concern. It had previously recorded losses due to currency fluctuations, an impairment charge, and the cost of buying Alrosa out of a joint venture.
The GBP 250,000 ($311,737) the miner raised
through a sale of shares will help it continue exploration in Botswana and further the
bulk-sampling program at its Thorny River project, it said last week.
Image: A rough diamond. (James St. John)
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Etiquetas:
Alrosa, Botswana Diamonds, Rapaport News, Thorny River
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