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Botswana Diamonds Raises $722K for Orapa Project
May 8, 2016 10:47 AM
By Rapaport News
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RAPAPORT... Botswana
Diamonds sold shares for $721,500 (GBP 500,000) to fund ongoing diamond exploration at its joint
project with
ALROSA and for additional working capital.
The company
placed 33.3 million ordinary shares, or 9.9 percent of its share capital, with
new and existing investors at $0.02 (GBP 0.015) per unit.
The company
is now fully funded for its ongoing drilling, sampling and geophysics program
at a site in the Orapa region of Botswana, said John Teeling, chairman of
Botswana Diamonds.
Botswana Diamonds, which
is listed on the London Stock Exchange’s Alternative Investment Market, and
Russia-based miner ALROSA started their exploration project in March after unveiling the 50:50 joint venture in 2013.
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Tags:
Alrosa, Botswana, Botswana Diamonds, exploration, mining, Orapa, Rapaport News
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