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Diamcor Aims to Raise $4M for South Africa Project

Aug 25, 2016 10:54 AM   By Rapaport News
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RAPAPORT... Diamcor Mining plans to raise $3.9 million (CAD 5 million) through a private placement to acquire equipment and materials needed to advance its Krone-Endora at Venetia project in South Africa.

The miner plans to place up to 4,545,455 “units” at $0.85 (CAD 1.10) each, with each unit comprising one common share and half a share-purchase warrant, the company said. Each whole warrant will entitle the holder to buy one share at an exercise price of $1.24 (CAD 1.60) for 36 months after the issuance.

The offering is subject to the approval of the TSX Venture Exchange in Toronto.

Diamcor acquired the Krone-Endora at Venetia mining project in the Limpopo province from De Beers in a deal that closed in 2011.
Tags: diamcor, Diamcor Mining, Krone-Endora at Venetia, Limpopo province, Rapaport News, South Africa
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