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Market: AIM
52-week High/Low: 8.00p / 0.50p
Sector: General Mining - Diamonds & Gemstones
Market Cap: 9.81M
Phone: +44 (0)20 3151 0970
Address: 1 Fore Street, London EC2Y 9DT.
Diamondcorp Plc

Diamondcorp Plc

DiamondCorp plc is focused on the re-development of the Lace Mine located near Kroonstad, South Africa. This historic mine is famed for its pink and purple fancies.

Diamondcorp Plc

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Diamondcorp Plc Snapshot

DiamondCorp is currently developing the Lace underground mine to access the kimberlite pipe known to extend to depths below 850m. Operations are currently focussed on developing the UK4 block while  also ramping down to 500 metres for an initial block cave. The company expects to restart diamond production from the kimberlite in H1 2016. The existing treatment plant has a capacity of 1.2 mtpa. Delineated resources will maintain the Lace mine for at least 25 years but the diamond pipe extends at depth and remains to be delineated. Annual production should exceed 500,000 carats per annum on occasions during that period.

In July 2012, the Industrial Development Corporation of South Africa agreed to lend Lace Diamond Mines R220m towards the re-development project and in November that year, DiamondCorp signed a US$6m term loan with Laurelton Diamonds, Inc., a wholly-owned subsidiary of Tiffany & Co. in return for long term diamond offtake. The Offtake Agreement took effect from the First Funding Date until the end of the life of the mine. Subject to any purchases by the South African State Diamond Trader, the Offtake Agreement will give Laurelton Diamonds, Inc. the right to purchase, on commercial terms related to fair market value, production from the Lace Mine which meets the quality and colour standards required to yield Tiffany quality polished diamonds. Special stones and those diamonds which do not meet the Tiffany standard will be excluded from the Offtake Agreement.

DiamondCorp is fully compliant with South African minerals legislation with leading local black economic empowerment (BEE) groups Shanduka Resources and Sphere Investments each holding a 13% in Lace Diamond Mines (Pty) Ltd, a subsidiary of DiamondCorp.

DiamondCorp plc is listed on the AIM Market of the London Stock Exchange (Code:DCP) and on the Alternative Exchange (AltX) of the JSE Limited in South Africa (Code:DMC).

The Lace Project

The DiamondCorp Group's primary asset in South Africa is the Lace Diamond Mine, an historic operation located some 200 kilometres south-west of Johannesburg, near the town of Kroonstad in Free State Province. DiamondCorp was awarded a mining right to the Lace property in February 2009.



Chris Ellis
Interim Chairman

Chris Ellis was born in 1963 and has a career in investment banking spanning over 20 years in London and the United States. For the last 9 years his principal activities have revolved around all financial aspects of the diamond supply chain, representing and advising industry banks, cutters & polishers, jewellery manufacturers and retailers. He is presently a Director of DFin Ltd, and was previously a principal of Consensus Advisors in London and the United States.

Paul Loudon
Chief Executive Officer

Paul Loudon was born in 1962 and has more than 20 years′ experience in stockbroking, corporate finance and management of junior mining and exploration companies. He has been President of Battlefields Minerals Corporation of Toronto and Chairman of BDI Mining Corp. He was head of Equities at Loeb Aron & Company Ltd, a London corporate finance house specialising in the mining sector, where he was responsible for raising considerable sums of equity capital for resource companies listed in the United Kingdom, Canada and Australia. Mr Loudon is an Associate of the Securities Institute and a member of the Southern African Institute of Mines and Metallurgy.

Jonathan Willis-Richards
Non-executive Director

Jonathan Willis-Richards was born in 1955 and holds a bachelor′s degree in Geology from Oxford University and a Master′s Degree in Mining Geology and PhD from Camborne School of Mines. He is internationally known for his PhD work on numerical modelling in the areas of fractured geothermal and mineralised systems, and is a founder and Managing Director of London mining corporate finance house Loeb Aron & Company Ltd.

Michael Toxvaerd
Non-executive Director

Michael Toxvaerd was born in 1974 and holds an MBA from Cranfield University. Currently CIO if HBG Management Partners Limited, he has significant experience in capital markets, mergers and acquisitions, founding, financing and listing companies on the London Stock Exchange. He is currently a non-executive director of European Islamic Bank plc and holds a number of other directorships.

Neil McDougall
Non-executive Director

Neil McDougall joins the board with many years of senior management experience in international environments.  Prior to joining Rasmala as Chief Financial Officer, Neil served in senior finance roles in various organisations including Europe Arab Bank Plc, Commerzbank and Standard Chartered. In his previous roles, he has been responsible for all aspects of Global Finance support, from performance management and decision making through to Product Control, Valuations Control and Financial and Regulatory Reporting. Mr McDougall's appointment is pursuant to the terms of the financing facility ("Facility") with Rasmala plc ("Rasmala") as announced on 20 October 2016.

DiamondCorp Plc
c/o WeWork
1 Fore Street
London EC2Y 9DT

[email protected]
Tel: +44 (0) 20 3151 0970
Fax: +44 (0) 20 3151 0971

Advisors & registrars

Company Secretary
City Group plc
30 City Road
London EC1Y 2AG


Barclays Bank plc
Town Gate House
Church Street East
Woking, Surrey
GU21 6XW
United Kingdom

AIM Nominated Advisor & NOMAD

Panmure Gordon (UK) Limited
One New Change
United Kingdom
Tel: +44 (0)20 7886 2500

JSE Advisor and Sponsor

Sasfin Capital (A division of Sasfin Bank Limited)
29 Scott Street
Waverley, 2090
South Africa


Gowling WLG
4 More London Riverside
London, SE1 2AU
United Kingdom

Werksmans Inc
155 - 5th Street
Sandton, 2196
South Africa


PricewaterhouseCoopers LLP
PWC Building,
Cnr of Welgevonden Avenue and Memorial Road.
Kimberley, 8300
South Africa;

Technical Advisors

SRK Consulting
265 Oxford Road
Illovo, 2196
South Africa

Competent Persons

VP3 Geoservices (Pty) Ltd
Office 4 Conberg House,
5 Dreyersdal Rd.,
Bergvliet, 7945
South Africa

Diamondcorp Plc Timeline

February 28 2017
January 31 2017
November 16 2016

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