Losses rise 90% at Botswana Diamonds

John Teeling’s Botswana Diamonds expects its 2015 exploration programme to include a double-digit number of drill holes tested to identify targets, as it looks to increase its focus on the southern African country.

The Dublin-based/AIM-listed mining company yesterday reported pre-tax losses of £948,610 (€1.2m). That represents a 90% rise on the previous year’s loss. The loss, for the 12 months to the end of June, reflected an impairment cost of £615,796 relating to its operations in Zimbabwe and Cameroon.

“The group’s focus is to maximise the full potential of the Botswana operations,” the company said.