DiamondCorp to delist from AltX on July 24

4th July 2017 By: Megan van Wyngaardt - Creamer Media Contributing Editor Online

JOHANNESBURG (miningweekly.com) – Embattled diamond miner DiamondCorp, which used to be listed on the Aim and AltX, on Tuesday said its listing on the AltX would be terminated on July 24.

The company, which owns the Lace diamond mine, near Kroonstad, said the last day to trade, prior to the termination of its listing status, will fall on July 18.

DiamondCorp’s admission to trading on Aim was automatically cancelled on May 15, after a six-month suspension.

Cork Gully’s Stephen Cork and Jo Milner were appointed as joint administrators for the embattled diamond development company in May, after the company’s board determined that the company was no longer able to continue trading as a going concern.

DiamondCorp had appointed Deloitte & Touche’s Daniel Terblanche and Independent Advisory’s Lebogang Mpakati as business rescue practitioners in November last year to try to rescue the business after a flood at the Lace mine halted operations.