Aim-listed Botswana Diamonds has undertaken a placing and subscription with existing and new investors to raise £250 000 ($318 053) through the issuance of new ordinary shares.
This includes a cash subscription by certain directors.
The funds raised will be used to finance ongoing exploration activities in Botswana and South Africa, as well as to provide the company with additional working cash.
Meanwhile, Botswana Diamonds said the end of August is still the target date for the approval of an environmental impact assessment, which will allow drilling on the three Sekaka Minerals anomalies close to the company's KX36 discovery in the Kalahari.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
