Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors
EPIC: DCP
Market: AIM
52-week High/Low: 10.13p / 5.63p
Sector: General Mining - Diamonds & Gemstones
Market Cap: 30.64M
Phone: +44 (0)20 3151 0970
Address: Third Floor, 48 Gresham Street, London, EC2V 7AY.
Website: www.diamondcorp.plc.uk
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

www.diamondcorp.plc.uk

Interactive graph

col 3
col 4
col 5
col 6

Big picture - Why invest in Diamondcorp Plc


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.

 

 

Euan Worthington
Chairman

Euan Worthington was born in 1955 and has been associated with and involved in exploration, mining development, analysis and corporate finance in London for over 30 years. He has worked as an independent mining finance consultant and mining company director since 2001. He was an executive director of gold miner Celtic Resources, Chairman of African Eagle resources and a non-executive director of Europena Nickel, all of which are AIM listed. Mr Worthington holds a BSc Geology (Hons) from Kings College, London, a DIC (Mineral Resources Engineering) and MSc in Mineral Production Management from Royal School of Mines, Imperial College, London. He is a Fellow of the Institute of Materials, Minerals and Mining.

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.

Chris Ellis
Non-executive Director

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.

Hulme Scholes
Non-executive Director

Hulme Scholes, born in 1966 is a leading South African attorney with his primary focus being mining and mineral law. Before studying Law at Wits University in Johannesburg he completed his National Service and a year working for Rand Mines on the Harmony Gold Mine. He completed a Bachelor of Arts Degree (1990) and Bachelor of Laws (LLB) Degree (1992). Over the past 20 years he has been a Partner at three law firms and is now a Director of Malan Scholes Attorneys practising exclusively in the field of Mining and Mineral Law. He is a Director of Aquarius Platinum (South Africa) (Pty) Ltd, West Wits Mining Ltd, Randgold & Exploration Company Ltd and Lace Diamond Mines (Pty) Ltd.

Directors
Euan Worthington
Paul Loudon
Hulme Scholes
Jonathan Willis-Richards
Nicholas Allen
Michael Toxvaerd
Chief Financial Officer
Sanette de Wet

Company Secretary
City Group plc


Head Office
Third Floor
48 Gresham Street
London, EC2V 7AY
United Kingdom

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

Registered Office
City Group plc
6 Middle Street
London, EC1A 7JA
United Kingdom


Investor Relations
+44 (0) 20 3151 0970
[email protected]
Brokers & NOMAD
Panmure Gordon (UK) Limited
One New Change
London
EC4M 9AF
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

Advisors & registrars

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

Bankers

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
London
EC4M 9AF
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

Solicitors

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

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

Auditors

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

Columns Including DCP

VIEW ALL

Market Reports Including DCP

VIEW ALL
Video RSS

Videos

VIEW ALL VIDEOS

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.