Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Diamondcorp draws another £300,000 from Rasmala

Production in the current month is on schedule to exceed 15,000 tonnes at a grade of 29 carats per hundred tonnes.
Picture of pound note
Production at the Lace mine is back on track

DiamondCorp PLC (LON:DCP) has drawn down a further £300,000 of its financing facility with Rasmala.

Rasmala, which owns 11.6% of Diamondcorp, agreed to provide £0.7mln in short-term funds last month through a Shariah-compliant secured convertible facility.

The £300,000 is the second tranche of that money.

Production at the Lace mine in South Africa is in line with expectations, with the balance of the 5,000 carats of diamond inventory, against which the facility is collateralised, expected to be processed today.

Output in the current month is on schedule to exceed 15,000 tonnes at a grade of 29 carats per hundred tonnes.

Earlier this week, Diamondcorp abandoned plans to sell Lace, saying the offers it received significantly undervalued the mine.

View full DCP profile View Profile

Diamondcorp Plc Timeline

Newswire
February 28 2017
Newswire
January 31 2017
Newswire
November 16 2016

Related Articles

rubies
June 14 2017
Fosun said its 40.85p a share offer is a "compelling cash alternative"
Sapphires
August 07 2017
The Aussie sapphire and gemstone group reported a 66% rise in total income for the first half of 2017.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

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.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use