Firestone to raise home-grown capital finance

Junior diamond miner, Firestone, says it is currently in discussions with its bankers in Botswana to raise the additional $3 million (P21 million) required to finance development of the BK11 project and to facilitate expansion of the plant's capacity.

The Botswana-focused miner, which is listed on the London Stock Exchange and is aiming for a secondary listing on the BSE, is in the process of developing the BK11 kimberlite project in Tsabong. 

"While we are disappointed not to have met our budget for BK11, we plan to finalise arrangements to ensure that the required funds are put in place as soon as possible," the CEO of Firestone, Philip Kenny, said in a statement.

Editor's Comment
Closure as pain lingers

March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...

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