DiamondCorp aims to raise P72m

The South Africa-focused company had placed 100 154 695 shares at 7p a share, which represented a discount of 26 percent to the closing midmarket price of 9,5p a share on Friday(last week).

DiamondCorp MD and CEO Paul Loudon said that a positive market sentiment towards the diamond sector had returned, and that the company would take advantage of that to raise the capital it needed to resume the underground development of the Lace diamond mine. "I am particularly pleased that the placing has been strongly supported by most of our existing institutional shareholders, as well as a number of new shareholders."