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15 Nov 2019 | 10:04

Botswana Diamonds losses widen on writedown of exploration assets

Botswana Diamonds reported wider losses as costs jumped amid a writedown of exploration assets after some licences held in its subsidiary Sunland Minerals were relinquished.

Pre-tax losses widened to £772K from £556K on-year. The company flagged an impairment charge of £435K, up from £179,524, after some licences were relinquished during the year. Looking ahead, the miner said it would ramp up production at its Marsfontein gravels project in the coming weeks; restore production at Thorny River and undertake reconnaissance work on the licenses in the Central Kalahari to identify specific drill targets. At 10:04am: (LON:BOD) Botswana Diamonds PLC share price was -0.1p at 1.03p

Story provided by StockMarketWire.com
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