https://www.miningweekly.com

DiamondCorp raises £1m through share placing

23rd January 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Dual-listed Southern African diamond mining company DiamondCorp has raised proceeds of about £1-million through the placing of 25.4-million new ordinary shares at 4p apiece.

The company is also issuing about 3.14-million new ordinary shares with 3.14-million attached warrants as settlement for professional fees pursuant to the placing and in satisfaction of certain outstanding indebtedness.

Applications are being made to the LSE and JSE for the placing shares and the fee shares.

Upon admission, and subject to the conclusion of a labour agreement with the Association of Mineworkers and Construction Union (AMCU), DiamondCorp's enlarged issued ordinary share capital immediately will stand at 507-million ordinary shares.

The embattled company earlier this month announced plans to raise the £1-million to fund critical expenditure at its Lace mine.

It has stressed, however, that it needs to reach an agreement with AMCU about retrenchments.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

Resources Watch
Resources Watch
17th April 2024

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.129 0.168s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: