Botswana Diamonds has issued more than 28,5 million ordinary shares of £0.0025 each in respect of the second tranche of consideration shares due following the completion of the acquisition of Vutomi in South Africa last September.
It will also issue up to a further 58,7 million ordinary shares following an exercise of warrants.
The proceeds of the warrant exercise of £352,425 will be used for additional working capital.
Botswana Diamonds said the Vutomi-owned alluvial and dump mine at Marsfontein is expected to produce diamonds in February.
Vutomi holds the mineral rights to the Thorny River Project as well as other exploration assets.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
It will also issue up to a further 58,7 million ordinary shares following an exercise of warrants.
The proceeds of the warrant exercise of £352,425 will be used for additional working capital.
Botswana Diamonds said the Vutomi-owned alluvial and dump mine at Marsfontein is expected to produce diamonds in February.
Vutomi holds the mineral rights to the Thorny River Project as well as other exploration assets.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
