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Botswana Diamonds company logo
Corporation
METALS & MINING | Diamond & Precious Stones
botswanadiamonds.co.uk

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Founded Year

2010

About Botswana Diamonds

Botswana Diamonds is a diamond exploration and project development company and produces extremely high value stones. It is based in Dublin, Ireland.

Botswana Diamonds Headquarter Location

162 Clontarf Road

Dublin 3, D03 F6YO,

Ireland

Latest Botswana Diamonds News

Caspian Sunrise brightens after oil price surge brings it back into profit

Sep 21, 2021

Caspian Sunrise brightens after oil price surge brings it back into profit A look at the main movers on the London market on Tuesday Caspian Sunrise PLC ( AIM:CASP ) has seen its shares gush higher after it returned to profit. The central Asian oil and gas company said it made a US$3.4mln first half profit compared to a US$14mln loss, despite a 16% drop in production. It said: "The principal catalyst for the recovery in the group's fortunes has been the dramatic improvement in both the world oil price and the price at which domestic production has to be sold in Kazakhstan. "International prices have recovered from a low in the second quarter of 2020, of approximately US$16 per barrel to the current approximately US$75 per barrel and for the majority of the period under review were in excess of US$50 per barrel. The domestic price also recovered from a low of approximately US$6 per barrel to the current approximately US$20 per barrel, although this increase came too late to have much impact on the period under review. "The outlook for world prices remains positive and we have no reason to expect anything other than further upwards movement in the domestic price." The company's Caspian Explorer drilling vessel completed its first charter and negotiations for a second are at an advanced stage. Caspian's shares are up 6.67% at 3.2p. 9.59am: M&C Saatchi expects full year profits to beat forecasts as clients return after pandemic  Advertising and marketing group M&C Saatchi PLC ( AIM:SAA ) is in demand after a surge in half year profits and a prediction that the full year figures would beat forecasts. First half revenues rose 21% and profits jumped from just £2mln to £10.5mln as its business recovered from the pandemic. It said it had seen greater activity among existing clients and it also won new projects and new clients, helped by an increased focus on digital. It added: "Whilst the onset of the pandemic created uncertainty around client investment, we are now seeing a renewed belief in marketing as the key lever for growth. Marketing spend levels are increasing as brands take advantage of stronger economic indicators and the recovery in consumer spending." The momentum from the first half has continued with important client retentions and new wins so full year profit before tax is expected to be "substantially" ahead of consensus. Chief executive Moray MacLennan said: "These results mark a key turning point for M&C Saatchi. We have returned to growth with first half profits not only substantially ahead of 2020, but also surpassing 2019. Our focus on simplification and control, has continued to strengthen both our operating margin and balance sheet, which enables us to successfully pursue our strategy for growth. "We have made rapid progress in the implementation of this strategy, most notably in accelerating M&C Saatchi's proven expertise in providing digital and connected marketing solutions to meet the demands of a growing market. "Our confidence in the future is reflected in the post-period-end decision to settle current put options in cash with the expectation that this continues thereby eliminating dilution for shareholders". The company's shares have climbed 5.21% or 7.61p to 153.61p. 8.40am: Botswana Diamonds upbeat on Thorny River prospect after drilling programme Shares in Botswana Diamonds PLC ( AIM:BOD )  are sparkling after positive drilling news from its Thorny River property in South Africa. Nine holes were drilled to see if two kimberlite blows (or small pipes) were one contiguous body of ore, thus increasing the overall resource and improving the commercial prospects of the project. The company said one hole intersected 19.1 metres of kimberlite zone, which was the biggest thickness found in all three drilling programmes to date. Another hole intersected a thickness of 13.5m of kimberlite zone. It has begun work to create a model of the combined blows to estimate the potential resource with plans for a possible open cast mining. Two new additional targets have been identified close to the current area. These could also be blows, thus increasing resources. They will be drilled. Chairman John Teeling said: "This is an excellent set of results. The two blows are, as we hoped, connected - thus increasing the resource. The two thickest intersections close to the River Blow are particularly exciting. Given these results, we are now examining commercial mine alternatives". The shares are up 10.47% at 1.19p.

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