DiamondCorp delists from Aim, AltX delisting next

15th May 2017 By: Megan van Wyngaardt - Creamer Media Contributing Editor Online

JOHANNESBURG (miningweekly.com) – Troubled Southern African diamond mining, development and exploration company DiamondCorp’s admission to trading on the Aim of the LSE was cancelled on Monday.

Earlier this year, the company’s shares were also suspended from trading on the JSE, and discussions are ongoing to also facilitate a delisting from the AltX of the JSE.

Last week, the miner appointed administrators Stephen Cork and Jo Milner from Cork Gully after its board determined that the company was no longer able to continue trading as a going concern.

The company in November last year appointed Deloitte & Touche’s Daniel Terblanche and Independent Advisory’s Legogang Mpakati as business rescue practitioners for its Lace Diamond Mines subsidiary. Operations at the Lace diamond mine were halted last year after heavy rains flooded the mine and damaged equipment.

Employees at the mine have since been retrenched.