Galane Gold Ltd. is conducting a long term exploration programme over a large number of prospects contained within its mining leases and exploration tenements which cover the bulk of the Tati greenstone belt in Botswana. Therefore, the company has provided update concerning on-going exploration work at Tekwane Prospect to define gold mineralisation found in a flat-lying quartz rubble bed within the soil profile, close to surface. The company’s news release dated December 3, 2012 disclosed details regarding the first phase of this work. Through a regional program completed by a predecessor to the company in 2002 a gold-in-soil geochemical anomaly,…
Author: Editor
Lucara Diamond Corp, the Botswana Stock Exchange listed company has provided a revised operating performance outlook for 2013. The company said its Karowe Mine is projected to process 2.5 million tonnes and the company is forecasting diamond sales of 420,000 carats in 2013, an increase of 5% from previous guidance. It added that the group is forecasting revenues of around $118 million with five sales planned for the remainder of the year, excluding the potential for a second large stone tender with viewings in both Gaborone and Antwerp. Lucara noted that Karowe’s operating cash costs are expected to be in…
First National Bank of Botswana announced the appointment of Steven Bogatsu as the Chief Executive Officer of FNB Swaziland effective 3rd June 2013. Steven assumed the position of Chief Financial Officer of First National Bank of Botswana in 2007. During his tenure, he executed his role diligently ensuring that the Bank’s Finance department runs like a well oiled machine. He was part of the FNB Botswana team that doubled the balance sheet from P7.2 billion to P14.2 billion and grew the profit before tax from P300 million to P730 million between 2007 and 2012. During his tenure, the FNBB 2010…
The sale, which has been launched under the theme ‘BIG 5 Sale’, is a first of its kind in Botswana. Speaking at the launch, Duncan Woods, Head of Consumer Banking said ‘We are very excited about the launch of the BIG 5 Sale and look forward to providing our customers with value added financial solutions. We realize that our customers at times experience financial challenges and by offering them discounts on selected Bank products, we will cushion them against the hyper inflationary environment. Standard Chartered Bank is committed to providing tailored financial solutions to its customers. The BIG 5 Sale…
The local comedy industry is making strides to show development in the industry with each show in the year 2013. Comedy for the Nation of Botswana (COFONABO), also known as the Laff-A-Lot crew, have so far managed to host Pule (birth name, Nicholas Welch) at their previous show at Khwest. They have also been invited to open for top South African act Riaad Moosa at Gaborone International Conference Centre. The Laff-A-Lot crew hosted their first ever sold out night at Cresta President Hotel where they invited South African comedians Thapelo ‘Shampoo’ Seemise and Mashabela Galane. The Laff-A-Lot crew is back…
Air Namibia has announced the suspension of the Gaborone- Windhoek route blaming its decision on the limited number of passengers on the route that has negatively affected its margins. The Namibian carrier commenced servicing the two cities in May 2012 and managed to capture 86 % of the market share during that period to present and flew 294 flights with an income of over $N 6 180 45. “We captured 86% market share, but this translates to a load factor of 35%, meaning even if we have 100% market share we will still be having lower than 45% load factor,”…
Aviva Corporation Ltd, the Botswana Stock Exchange (BSE) quoted resources company said it has entered into binding sale documentation to sell its Mmamantswe Coal Project to African Energy Resources Limited for A$3.5million. Aviva announced on 29 April 2013 that it had entered into a conditional agreement with African Energy to sell the project for A$3.5million. Execution of binding sale documentation follows receipt of confirmation from African Energy that it is satisfied with the results of its due diligence enquiries on the Project and completion of a fundraising by African Energy to finance the acquisition of the Project. However, the sale…
The United Stated of America (U.S) Ambassador to Botswana Michelle D. Gavin has commended BirdLife Botswana for developing the bird tourism sub-sector in the country. Gavin said at a recent Birdlife Botswana “World Migratory Bird Day” in Mogoditshane that Botswana’s future lies on the use of natural resources. The global bird watching business is estimated at US$ 80 billion per year. “One of the things I most admire about BirdLife is their work with local communities to bring some of that $80 billion to Botswana by developing bird watching tourism here,” Gavin said. “I admire that activity because I am…
Lucara Diamond Corp. has announced the results from its first large and exceptional diamond tender. The special tender of Karowe diamonds was completed on May 22, 2013 and consisted of 15 single stone lots. All 15 stones were sold for gross revenues of $24.85 million t($30,468 per carat). The highest value stone was the 239 carat diamond which sold for $5.75 million with an additional 4 diamonds selling for more than $2.5 million each. This special tender of exceptional diamonds is in addition to the Company’s third regular tender which closed on May 14, 2013. William Lamb, President and CEO,…
The Botswana Investment and Trade Centre (BITC) is an integrated investment and trade promotion agency with a mandate of promoting Botswana’s investment and trade potential including managing Botswana’s nation brand initiatives. BITC recently launched its Corporate and Brand Strategy in Gaborone and has now embarked on promoting the country’s investment and trade potential to various international markets beginning with Johannesburg, South Africa. “Led by the Minister of Trade and Industry, Hon. Dorcas Makgato-Malesu, BITC will host an event at the Michelangelo Hotel, Sandton on May 21, 2013, at 18:30, where we will share our country’s business opportunities with the South…