Diamondcorp reports good progress on placing, extends close date

2017-01-20 07:49:00
The company announced last week it would raise £1mln through a placing at 4p
Very good progress is being made on placing, according to Diamondcorp

Diamondcorp Plc (LON:DCP) has extended the closing date for a funding that will bring its diamond mine out of the South African equivalent of administration.

It announced last week it would raise £1mln through a placing at 4p as a first step in pulling the Lace mine out of Business Rescue.

The AIM-listed diamond miner said ‘very good progress’ was being made with the share issue but it had pushed the close date back to 20 January to help some interested parties.

A condition of the placing is that a labour agreement is reached with the AMCU union at Lace over back wages and staff reductions.