Lerala Mine reopening deferred

But in a statement this week, Kimberley says it has now called off a proposed placement of some 30 million shares, as the board was conscious of unnecessarily diluting its existing shareholder base, given the pricing levels currently available.

“The re-commissioning of the Lerala Diamond Mine, in Botswana would be postponed until funding became available, either through cash flow or external sources. The company has been presented with alternate, non-dilutive options to fund its development programme, which the board would now consider,” the statement said.