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
Closure as pain lingers

March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...

Have a Story? Send Us a tip
arrow up