Lucapa Diamond Company (ASX:LOM) has issued 2.42 million shares in lieu of fees to Equigold Pte Ltd, the issuer of its recent US$15 million financing facility.
Equigold is associated with prominent Singapore-based resources investor Simon Lee AO.
Lucapa welcomes Lee’s ongoing support for the company and its strategy to grow production of large and premium-value diamonds.
The recently finalised financing facility is to advance the Phase 1 development of the high-value Mothae kimberlite project in Lesotho, southern Africa.
READ NOW: Lucapa Diamond Company finalises Mothae financing facility
The terms of the US$15 million facility also enable Equigold to further increase its shareholding in Lucapa by converting the last two scheduled quarterly repayments, totalling US$3.75 million, into Lucapa shares.
Mothae is located within 5 kilometres of Gem Diamonds’ (LON:GEMD) Letseng mine, which produces the world’s highest per carat kimberlite diamond production.
Lucapa raises US$7.3 million from recent diamond sale
Recently, Lucapa completed another sale of 4,126 carats of Lulo diamonds, achieving gross proceeds of US$7.3 million.
The eighth sale for 2017 of alluvial diamonds from the Lulo Diamond Project in Angola fetched an average price per carat of US$1,770 (A$2,332).
Importantly, the latest sale brought gross proceeds from Lulo diamond sales to date in 2017 to US$31.6 million at an average price per carat of US$1,668.
The next sale of Lulo diamonds will take place in either December 2017 or early in 2018.