Botswana Diamonds PLC shares were down on Thursday, following slight delays for first recoveries of diamonds at the Marsfontein project in South Africa.

Shares in the Botswana and South Africa-focused diamond explorer were down 7.0% to 1.00 pence each in London on Thursday around midday.

Previously, Botswana Diamonds said the Vutomi owned alluvial and dump mine at Marsfontein was expected to produce diamonds in February.

On Thursday, it said: ‘Site establishment commenced during the course of the last week of January 2023 and since that time, approximately 1,500 tons of eluvial gravels from the main Marsfontein pipe have been excavated and are awaiting processing. The processing plant has been established and commissioning with gravels has just commenced.’

Botswana therefore now expects first recoveries of diamond this month. It also plans to make a further announcement ‘in due course.’

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