Business
Annual Results for the Year Ended 30 June 2022
Annual Results for the Year Ended 30 June 2022.
About this update from Botswana Minerals Plc
[{"type":"text","content":"\n \n \n 8th December 2022\n \n \n \n \n \n \n \n \n Botswana Diamonds PLC\n \n \n \n \n (\"Botswana Diamonds\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Annual Results for the Year Ended 30 June 2022\n \n \n \n \n Notice of Annual General Meeting\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 2022.\n \n \n \n \n \n \n Chairman's Statement\n \n \n \n \n \n \n \n \n Botswana Diamonds (BOD) is a rare animal - a listed diamond explorer. In recent years mineral exploration has gone out of fashion. Explorers spend money and it has become extremely hard to raise exploration finance from either the public or institutions. Money to finance expensive exploration programmes is virtually impossible to raise and yet the potential rewards for a successful discovery are substantial.\n \n \n \n \n \n The principals in BOD believe that they can deliver meaningful returns to investors. They have done so in their earlier vehicle, African Diamonds, which discovered, with their partners De Beers, what is now Lucara Diamond Karowe mine in Botswana. The BOD directors and employees are very experienced in diamonds, Africa, mining and exploration.\n \n \n \n \n \n We are using this experience to acquire exploration assets in areas of good diamond potential, Botswana, South Africa, and possibly, Zimbabwe. While we have pure blue sky exploration licences we tend to focus on areas where diamonds have already been discovered but for a variety of reasons the ground has been or is being let go. There is an exploration saying - the best place to find a mine is where there is or was a mine. You can see this approach in our Botswana strategy where we have increased our stake in the Maibwe joint venture, in the acquisition of the KX36 discovery which contains substantial quantities of diamonds and in our unsuccessful attempt to acquire the closed Ghaghoo mine. In South Africa, we have taken our Thorny River project to mining application stage. We would hope to begin production in Q2 / Q3 of 2023. In the meantime, the adjacent Marsfontein ground will be contract mined from early 2023. We have recently been awarded a five-year prospecting licence on the Reivilo cluster of kimberlites in South Africa. We have acquired an extensive body ...