Botswana Diamonds plc, which announced its financial results for the six months ended 31st December 2017 yesterday, reported an operating loss, and loss before and after taxation of £ 178,000; and a total comprehensive loss (after adjusting exchange difference in foreign operations) of  £ 177,000. Loss per basic and diluted share was declared at 0.04 p. 

This compares with an operating loss; and loss before and after taxation of £ 136,000 for the same period of the previous year. However, in that period (six months ended 31st December 2016), the Company had reported total comprehensive income (after adjusting exchange difference in foreign operations) of £ 61,000. 

The Company reported a cash position of £ 230,000 in hand at the end of the reporting period.

For Botswana Diamonds the past months have been hectic ones with exploration being carried out at several locations.

The Thorny River project in South Africa has advanced considerably and has seen significant drilling and exploration activity. Presently, the Company is conducting a Scoping Study to examine the commercial viability of the project. The results are expected in mid-2018.

At the Ontevreden kimberlite, drilling is ongoing in order to delineate its size and diamond content.

Bostwana Diamonds also stated that “Nine kimberlites in the Northwest and Free State Provinces of South Africa were discovered or re-discovered”.

In Botswana, the Company’s exploration in the Central Kalahari Game Reserve (CKGR) continues through Sunland Minerals, the Company's joint venture with ALROSA.  

Botswana Diamonds also reported progress at its Maibwe joint venture in Botswana, where it said a prospectus is being drawn up by the liquidator of BCL, to identify options.

Earlier this year, Botswana Diamonds raised £500,000 (before expenses) to fund the ongoing exploration activities.