Proactiveinvestors United Kingdom DiamondCorp articles

DiamondCorp agrees US$33.6 mln loan terms with South Africa’s IDC for Lace mine UPDATE

Mon, 21 May 2012 11:11:00 +0100

This agreement marks a significant milestone in DiamondCorp's transition from developer to producer, and is bang in line with management's efforts to find a financing method which is the least dilutive for shareholders of the company.

COMPANY Q&A: DiamondCorp on plans for the Lace mine

Fri, 06 Apr 2012 09:30:00 +0100

There has been steady newsflow from emerging diamond producer DiamondCorp recently, including the validation of its longstanding $50 million (£31 million) project to reopen the Lace mine in South Africa’s Free State province. We find out more on the future plans of this mining junior.

DiamondCorp's Loudon ready to speak to financiers after SRK green light

Wed, 21 Mar 2012 10:13:00 +0000

Paul Loudon, chief executive of DiamondCorp, is preparing to talk to banks, project financiers and potential rough diamond buyers. It comes after an independent engineering report gave the green light to the company’s longstanding $50 million (£31 million) project to reopen the Lace mine in South Africa’s Free State province.

DiamondCorp shares spike after its plans for the Lace diamond mine are endorsed

Tue, 20 Mar 2012 15:21:00 +0000

Shares in DiamondCorp spiked almost 10 per cent after an independent assessment endorsed its plans for the Lace diamond mine in South Africa. The engineering report compiled by outside consultants SRK found the company’s proposed block cave scheme was the most “appropriate” way of mining Lace.

Diamondcorp says "significant" number of lenders interested in financing Lace

Mon, 30 Jan 2012 08:04:00 +0000

The South Africa-based diamond miner is hopeful of arranging debt finance for nearly all the cost of developing its Lace diamond mine after talks with possible lenders.

Charles Stanley says DiamondCorp's share price underestimates Lace Mine's potential

Fri, 18 Nov 2011 11:14:00 +0000

Charles Stanley has initiated coverage on DiamondCorp with an ‘add’ recommendation and an 11.5 pence price target – which is almost double the current share price.

DiamondCorp cash call sensible as it assesses funding options for Lace, say City analysts

Wed, 19 Oct 2011 13:51:00 +0100

Analysts this morning applauded DiamondCorp’s decision to raise just over £2 million from investors – a move which will allow it concentrate on pulling in the project finance required to develop the Lace Mine in South Africa.

DiamondCorp ready to take the historic Lace mine into the next phase of development

Wed, 05 Oct 2011 12:16:00 +0100

The company's tweaked plans for the historic Lace Mine in South Africa and updated economics received a cautious welcome this morning.

DiamondCorp says bulk sampling work confirms the economic viability of South African mine

Wed, 05 Oct 2011 07:20:00 +0100

DiamondCorp said this morning bulk sampling on South Africa’s Lace Mine has underlined its economic viability.

DiamondCorp poised for next stage of development

Thu, 22 Sep 2011 12:37:00 +0100

Today, in its interim results statement, the group said it has made significant steps towards its goal of becoming a long-term diamond producer. Fairfax mining analyst John Meyer reckons DiamondCorp will move onto its next phase of development in the coming weeks as it confirms the diamond grades from Lace kimberlite pipe.

DiamondCorp reveals a sharp improvement in grade at Lace as it moves into less diluted kimberlite

Wed, 07 Sep 2011 07:41:00 +0100

DiamondCorp this morning revealed a sharp improvement in the grade recovered from the historic Lace Mine in South Africa.

DiamondCorp: Analyst expects 'significantly higher' grades for rest of Lace mine sampling

Tue, 02 Aug 2011 11:38:00 +0100

Fairfax Securities’ mining expert John Meyer expects diamond grades will improve through the remainder of the 30,000 bulk sampling programme. Importantly the analyst reckons an 11 per cent uplift in grades could generate sufficient revenue to cover the development costs for the Lace mine.

DiamondCorp boss Laudon ‘absolutely delighted’ with diamond quality at Lace mine

Tue, 02 Aug 2011 08:08:00 +0100

DiamondCorp has processed around 20 percent of the tonnage required for its bulk sampling programme and although it has begun with the mine's lower grade material, managing director Paul Laudon said that he is absolutely delighted’ with the quality of diamonds unearthed so far.

DiamondCorp upbeat on prospects for Lace mine and diamond prices

Wed, 29 Jun 2011 12:28:00 +0100

After a year of solid progress at its key Lace mine in South Africa, DiamondCorp is revving up for a busy period ahead as it looks to take the promising asset to full production. Broker Fairfax is certainly upbeat about the company’s prospects and reckons Lace is “one of the most interesting and exciting diamond mining prospects in the market”.

DiamondCorp upbeat on prospects for Lace mine and diamond prices

Mon, 06 Jun 2011 15:35:00 +0100

Diamond miner DiamondCorp sounded a very upbeat note over a development cost review for its Lace diamond mine in South Africa. With the outlook for diamond prices strong as ever, and expectations that an increase in electricity costs will be offset by new technology to speed up processing at the mine, the company reckons margins at Lace could eventually top 70 percent.

DiamondCorp shares buck the downbeat mood after successful tailings diamond auction

Thu, 24 Feb 2011 14:51:00 +0000

DiamondCorp rose strongly in reaction to news of a successful auction of tailings diamonds from the Lace mine in South Africa. The group is very close to re-opening the main kimberlite there, and the prices achieved in this week's auction bode well for much-improved economics of the project. First bulk sampling of the kimberlite is expected in the second quarter of 2011.

DiamondCorp: Analysts upbeat as Lace Mine stays on track for bulk sampling next month

Thu, 03 Feb 2011 12:00:00 +0000

It has made strong progress with the underground mine development in South Africa even though workers had to battle with heavy rains. DiamondCorp is still on track and on budget to access fresh kimberlite below 260 metres, in time for a massive bulk sampling programme in March. Here we sift through analyst views on a project that’s being described as a potential ‘company maker’.

DiamondCorp raises £2.95 mln to fund extra underground development at Lace

Tue, 07 Dec 2010 08:54:00 +0000

The money will fund fund additional underground work which the independent geotechnical team believes will allow easier and safer sampling. The review recommends the bulk sampling programme to be carried out 20 metres deeper than planned, at the -260 metre level.

City analysts bullish on DiamondCorp following J-05 exploration success in Botswana

Mon, 08 Nov 2010 09:59:00 +0000

This morning DiamonCorp confirmed that it now has two diamondiferous kimberlites in Botswana, after it recovered 51 diamonds from sampling at the J-05 kimberlite. Whilst investors welcomed the news with a fairly modest share-price rise, analysts have been notably upbeat on the company’s prospects.

DiamondCorp Botswana Drilling Unearths Encouraging Results

Wed, 08 Sep 2010 15:30:00 +0100

Shares in DiamondCorp advanced 5 per cent as its drilling programme in Botswana gave cause for encouragement. The latest drilling results revealed that the J-05 kimberlite in Botswana shows similar characteristics to the diamond bearing volcanic rock at the nearby Jwaneng mine.