Botswana Diamonds sparkles after regulators approve Thorny River purchase

Shares in Botswana Diamonds PLC (AIM:BOD) have a bit of a sparkle about them after its proposed acquisition of a key project in South Africa received regulatory approval.

The company announced in September that it planned to buy Vutomi which has the mineral rights to the Thorny River diamond project.

In line with South African requirements it will sell 26% of Vutomi to its local empowerment partner Baroville Trade & Investments.

Chairman John Teeling said: “I am pleased that we have received all the regulatory approvals allowing this this transaction to be completed.  This will allow the company to expedite the mine permitting of Thorny River, with the initial applications having already taken place”.

Botswana shares are up 5.54% at 0.95p.

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