RAPAPORT... DiamondCorp said it plans to raise $890,472 (GBP 600,000) to complete a drilling program at the company's Jwaneng South kimberlite exploration project in Botswana. A portion of these funds will be used for general working capital purposes, the South African diamond mining and exploration company reported.
DiamondCorp will also place up to 6,000,000 fully paid, ordinary shares valued at 3 pence per share. The new shares represent 14.6 percent of the company's issued share capital and the company has applied for their listing on the Johannesburg Stock Exchange (JSE) and the Alternative Investment Market of the London Stock Exchange (AIM).
DiamondCorp has a 77.5 percent stake in the Jwaneng project.
LH