DiamondCorp to raise funds for mine development

Diamond exploration and development company DiamondCorp said on Tuesday that it intended to raise about 2,95-million through a new shares placing for further development work at its Lace mine, in South Africa, and for debt repayments.

The company had conditionally placed 34 ,713, 796 new ordinary shares at 8,5p a share, representing a 11,7 percent discount to its share price.

In April, DiamondCorp raised £6,6-million to implement the decline development at its Lace mine, undertake drilling of its exploration projects in Botswana, pay down loan obligations and for general working capital.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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