Diamondcorp starts business rescue process
The company said that more than 90 mm of rain fell in the space of an hour at Lace
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The company said that more than 90 mm of rain fell in the space of an hour at Lace
Mining at Lace has been halted, following heavy rains
Production in the current month is on schedule to exceed 15,000 tonnes at a grade of 29 carats per hundred tonnes.
Diamondcorp has said that offers received after a recent working capital shortfall "significantly undervalue" its asset
Demand for Gemfields' coloured gemstones continues to rise
Director Chris Ellis has been formally appointed as independent interim non-exec chairman with immediate effect, the South Africa-focused miner said.
Citi also still expects 2018 to be the inflection year when cash starts to come in and dividends start to be paid out.
Output in the three months was 1,097,523 carats versus 842,796 carats last year
Existing 11.6% shareholder Rasmala is putting up £0.7mln
Management has launched a strategic review alongside funding talks and said it would consider a merger or takeover proposal.
It is talking to key shareholders and third parties for a £500,000 funding.
The authority has requested "external ventilation audit team to inspect the mine for smoke and other gases".
Due to various matters underground, the firm cannot drill enough metres in a month to generate more than around 15,000 tonnes of blasted kimberlite
"Jaipur has yet again delivered a positive result in support of Gemfields' vision and reflecting the fact that the platform upon which the growth of the coloured gemstone sector is being built remains encouraging,” said Gemfields chief exec
Management has received only cursory recognition for the amazing job in taking the firm to 45p today from 3.6p in September 2010.
This financial year has seen Gemfields consolidate its position as an industry leader - chief executive Ian Harebottle added.
Demand was good in all categories with prices in line with a previous sale in April
Diamondcorp's Lace mine is now up and running an delivering grade and carat value