Water Intelligence raises expectations; Botswana Diamonds lifted by mining permit award

A look at the day’s major movers, starting with Water Intelligence and Botswana Diamonds.

Leak detection specialist Water Intelligence PLC (LON:WATR) spurted 11% higher to 294p after it said revenue this year had topped expectations.

Revenues rose 34% to US$24.7mln in the first nine months of 2019 from US$18.5mln in the same period of last year.

Profit before tax year-to-date has been “comfortably in-line with expectations”.

Botswana Diamonds PLC (LON:BOD) shone in early deals, rising 20% to 1.325p, after the award of a mining permit for the Marsfontein mine.

The permit covers the diamond bearing gravels and residual unprocessed stockpiles surrounding the mine and has been awarded to Vutomi Mining, in which Botswana Diamonds has a 40% stake.

The site establishment has already kicked off and commissioning is expected to commence within the next two weeks with production ramping-up once commissioning is complete.

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Written by Chiamaka Ekeh

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