Business
Annual Results for the Year Ended 30 June 2021
Annual Results for the Year Ended 30 June 2021.
About this update from Botswana Minerals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5671U\n Botswana Diamonds PLC\n 06 December 2021\n \n \n \n \n 6th December 2021 \n \n \n \n \n \n Botswana Diamonds PLC \n \n \n (\"Botswana Diamonds\" or the \"Company\")\n \n \n \n \n \n Annual Results for the Year Ended 30 June 2021\n \n \n \n \n \n \n \n \n \n \n Botswana Diamonds plc (AIM: BOD) today announces its audited annual results for the year ended 30 June 2021.\n \n \n \n \n \n Chairman's Statement \n \n \n \n \n \n Botswana Diamonds (BOD) is evolving from a pure diamond explorer to a diamond producer. We have an expectation that one or more of our advanced projects will in the near future potentially turn into a diamond mine. Our focus remains Botswana and South Africa, particularly the geology at the Kaapvall craton which straddles the border between the two countries. This area has produced many of the biggest and most valuable diamonds ever discovered from some of the largest diamond mines ever developed. We believe that more discoveries are likely particularly using modern techniques and technology. \n \n \n \n \n \n Before turning to a review of our projects let me look at the diamond market. Prices have rebounded in recent times after a severe fall in the past two years. Demand is strong for gem quality diamonds in the emerging markets and in the US. Meanwhile supply is at best static with closures in Australia and production problems in Siberia among other problems. The long-term future looks strong as more people enter the middle class and want the things that most European and American consumers buy. Who would have thought that a pandemic would be positive for the diamond traders? As we re-emerge from the shadow of the pandemic we believe that the middle market of the industry (traders and cutters) is in the best shape for many years. Stocks are low, liquidity is good, prices are going up and demand for both rough and polished is very strong. The post-Covid years should see very strong diamond acquisition and gifting. We expect good times ahead for the industry.\n \n \n \n \n \n Botswana \n \n \n \n \n \n Botswana, the country, is the largest diamond producer by value in the world with up to 80% of annual production being gem quality.\n \n \n \n \n \n The management and directors of BOD have extensive experien...