AfDiamonds plans to raise its stake in AK6

BSE-listed African Diamonds plans to raise 9,6 million to increase its stake in AK6 Mine and to fund its portion of the early works budget on the project.

The company announced to shareholders on Tuesday that it had undertaken a conditional placing of about 24 million shares at £0,40 a share. The junior diamond miner is planning to increase its stake in the mine to 40 percent, up from its current 29 percent, with Canada's Lucara Diamond Corp. holding the remainder of the shares in the project.

African Diamonds directors will invest $1.5 million (GBP 1 million) for the share placement. The new shares are scheduled to be admitted to London's Alternative Investment Market (AIM) on April 8, 2010.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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