Shares in Botswana Diamonds PLC jumped Thursday after it extended two “strategic” diamond licences for further two years, as it considered forming a joint venture to develop the projects.
Shares in Botswana Diamonds were 9.9% higher at 0.54 pence in London on Thursday.
Botswana Diamonds – through its wholly-owned Sunland Minerals Ltd subsidiary – extended the Prospecting Licences PL232 and PL235 in Botswana to the end of September 2021.
The firm explained the “key” licences were “strategically located” in the centre of the Kalahari Desert in Botswana, covering 500 square kilometres. Botswana Diamonds has already identified “prospective drill ready targets” following “intensive” work at the sites.
Botswana Diamonds said it was “already in extended discussions” with a “major” diamond producer regarding the formation of a joint venture for the next phase of the work on the licences.