Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
On Tuesday, Botswana Diamonds (LON: BOD) shares opened higher after the company said that four “high-quality” diamonds and abundant kimberlitic indicators were recovered from drill samples at the River Kimberlite Extension at Thorny River in the Limpopo Province of South Africa.
The company said the four diamonds were of “good colour and clarity” were discovered at sizes between -1.0+0.3mm.
“The diamonds are all notably of good colour and clarity and are of commercial quality and in high demand by the market,” the company said in a statement.
However, they were not weighed as the sample size was small and not representative of the possible population.
BOD has discovered an abundance of diamond indicators, including G10, G9, and eclogitic garnets, and there will be a new drilling programme to begin by the end of August.
The company's shares are trading at 1.14p, up 8.1% after opening the session at 1.25p.
Botswana Diamonds shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are BOD shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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