StockMarketWire.com - Botswana Diamonds said Monday annual losses swelled following a hefty impairment charge recorded during the year through September.

For the year ended 30 September, losses widen to £0.556m from £0.310m a year earlier following an impairment charge of £0.180m after some licences held by the company and its subsidiary company Sunland Minerals were relinquished.

The company highlighted a number of notable milestones achieved during the year, the most significant of which was at Thorny River in South Africa, where drilling had extended the diamond bearing dyke.

A number of development options were examined and a decision to contract out the development was recently finalised, with royalty revenue expected to begin to flow to Vutomi, the company's associate, by end 2019, if approvals can be finalised, Bostswana Diamonds said.

This would also allow Botswana Diamonds to work towards a maiden resource at negligible cost.

At 9:59am: [LON:BOD] Botswana Diamonds PLC share price was -0.03p at 0.7p



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