PERTH (miningweekly.com) – Diamond miner Kimberley Diamonds is hoping to raise more than A$4-million through a nonrenounceable pro-rata rights issue.
The company said on Friday that eligible shareholders would be allowed to purchase one new share for every existing Kimberley share held, with the shares to be priced at 2c each.
The funds raised would be used to fund operations at the Lerala diamond mine, in Botswana, as well as to repay some of Kimberley's existing loans.
The rights issue will close on February 15.