Botswana Diamonds announced that it has conditionally raised £1.51 million British through the selling of its shares to the public.
The company announced that it had issued an aggregate of 37.75 million new shares at a price of £0.04 per share.
The infusion of cash will enable the diamond company to pour more investment into its diamonds exploration projects in Botswana, Cameroon, and Zimbabwe. Botswana Diamonds has zeroed in on a remote region in northeastern Botswana and it is about to launch the second stage of its exploration program in Cameroon, where a bulk sampling on previously identified palaeoplacer conglomerates will determine whether there is a presence of diamonds.
The firm is also awaiting the go-ahead to begin mining for diamonds in Chimanimani and Marange in Zimbabwe.
"The strong support we have received for the placing is a further vote of confidence in Botswana Diamonds' strategy,” said John Teeling, the chairman of Botswana Diamonds.
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