Botswana Diamonds expecting first Marsfontein recoveries this month

2nd Mar 2023 13:59

(Sharecast News) - Botswana Diamonds updated the market on the Marsfontein project in South Africa on Thursday, reporting that the Vutomi-owned alluvial and dump mine at Marsfontein was expected to produce diamonds this month.

The AIM-traded company said site establishment began during the last week of January, and since then, around 1,500 tons of alluvial gravels from the main Marsfontein pipe had been excavated and were now awaiting processing.

It said the processing plant had been established, and commissioning with gravels had just begun.

"First recoveries of diamonds are therefore now expected this month and a further announcement will be made in due course," Botswana Diamonds said in its statement.

At 1009 GMT, shares in Botswana Diamonds were down 6.98% at 1p.

Reporting by Josh White for Sharecast.com.