Proactive Investors - Run By Investors For Investors

Diamondcorp raises new funds to keep the show on the road at Lace

Diamondcorp has raised new money to help it sort out its problems at Lace
Diamondcorp raises new funds to keep the show on the road at Lace
Tunnelling work at the Lace mine

DiamondCorp (LON:DCP) has raised approximately £1 mln through a placing of just over 25.4 mln new shares at 4p per share.

 

Each share comes with an attached warrant, exercisable at 1p at any time during the period commencing on 1 November 2017 and expiring on 30 June 2019.

 

The company’s shares remain suspended, however following the impact of poor weather conditions on operations at the Lace diamond mine in South Africa, and the placing is conditional upon admission becoming effective.

 

The company must also conclude a labour agreement with the Association of Mineworkers and Construction Union that is on terms approved by the Business Rescue Practitioner and by the Board of DiamondCorp.

 

The company is also issuing just over 3 mln shares with attached warrants as settlement for professional fees and as satisfaction of certain outstanding indebtedness.

 

 

 

View full DCP profile View Profile

Diamondcorp Plc Timeline

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

Related Articles

1546097196_Bluerock-Diamonds---illustratitive.jpg
December 31 2018
Bluerock is looking to boost output at Kareevlei by opening up new pits and by bringing new pipes into production
sapphires
December 21 2018
Richland wants to resume mining at Capricorn or find a buyer for the project
1532431420_Fura---rubies.jpg
July 24 2018
If it does decide to list in London, Fura will fill the coloured gemstone gap left by the departure of Gemfields

© Proactive Investors 2019

Proactive Investors 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