Botswana Diamonds plc (AIM: BOD) today announces financial results for the six months ended 31 December 2013.
John Teeling
Operational Highlights:
- Joint venture with the world’s largest diamond producer, Alrosa, now making progress
Orapa Region
- First phase of work on PL117 completed ahead of schedule
- Concentrates shipped to Russia for mineralogical identification
- Samples also taken from PL167
Joint venture budget for 2014 agreed at $1m
- Discussions ongoing with potential joint venture partners for licences in the Gope region where Botswana Diamonds and Alrosa have identified three targets
- More than $300,000 expected to be received following liquidation of Bugeco, in which the Company had held an inherited interest
Chairman, John Teeling said, “This is a good time to be in diamond exploration. During recent years demand improved while supply is, at best, flat. Existing mines are aging and becoming more expensive to mine. There is little new supply.
“In this environment Botswana Diamonds is an active explorer with our joint venture partner Alrosa, the biggest diamond company in the world. Alrosa has applied unique technical skills to identify targets which they believe will be kimberlites which contain diamonds. This is the technology developed to “see” through the tundra in Siberia.
“We are using technology never before applied in Botswana. The pieces of the jigsaw for Botswana Diamonds are being assembled and our potential for exploration success and the generation of shareholder value going forward remains strong.”