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Botswana Diamonds moots funding ploys

By Robert Tyerman | Thursday 9 April 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Having raised £282,500 at a discounted 1p to help fund its exploration efforts in southern Africa, unloved Botswana Diamonds (BOD) is planning other ways of improving its finances, says entrepreneurial chairman John Teeling. The mellifluous Irish veteran of the junior resources market indicates he will convert £160,000 loans to the company into shares, amid a general cutback in boardroom salaries and expenses, as unloved AIM counter Botswana Diamonds prepares to contribute its half share of a ‘$500,000 to $600,000’ exploration budget by midsummer for its gem prospects in Botswana’s diamond-rich Orapa area, having lost £948,000 in the year to last June and another £154,000 in the six months to December.Alrosa


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