Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
Shares of AIM-listed Botswana Diamonds are rising on Thursday after the company announced that a further drilling programme on its Thorny River diamond prospect in the Limpopo Province of South Africa will begin Monday, the 19th of April 2021.
The company discovered the River kimberlite pipe, including 11 diamonds which encouraged them to upgrade the property's potential.
An area with a similar geological and geophysical footprint immediately to the east of the River Pipe was identified. Botswana Diamonds analysis suggests the potential for a larger kimberlite body than already identified.
Once the earth works are completed this week, a six-hole reverse circulation programme will start on Monday. The programme is expected to take two weeks, with the results announced shortly after.
Botswana Diamonds share price reacted positively to today’s announcement, climbing to 0.88p per share at the open. They have since given up some of those gains and are now trading at 0.85p, up 3.03%.
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 Botswana Diamonds shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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