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Botswana Diamonds shares surge on news of new licence

Published: 09:20 09 Oct 2015 BST

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Work has begun immediately on a review aimed at defining new anomalies and drill targets

Botswana Diamonds (LON:BOD) shares raced up in early deals as its joint venture with Russian giant Alrosa was awarded a new prospecting licence in the Orapa area.

Licence PL260/2015 includes ground, which is the highest priority for the venture and contains three previously-discovered kimberlite bodies, the firm revealed.

Work has begun immediately on a review aimed at defining new anomalies and drill targets.

The 50-50 joint-venture with the world's largest diamond producer was inked a year ago and has a budget of US$1mln for 2015.

This latest licence covers 25 sq km in the Orapa region and is valid for three years from October 1, 2015.

Botswana shares added 10.34% to 0.80p.

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