Tuesday, June 6, 2017

As part of the trial mining company managed to produce

Lucapa Diamond Company received $ 14.2 million to finance the acquisition and development of diamond kimberlite project Motae (Mothae) in Lesotho.
According to the company, the financing package was received on the basis of agreement to subscribe for shares from Westar Capital in the amount of 9.2 million Australian dollars.
At the end of September this year, Westar will pay a 5 percent fee to the subscription and 1-percent fee for the sale of control of the stock.
The financing package also consists of a six-month loan collateral in the amount of 5.5 million Australian dollars, along with the release of 11.6 million unregistered options to Westar.
"The package of financing, combined with existing cash Lucapa (including funds transferred to the project Lulo (Lulo)) will allow the company to perform phase-out schedule of payment to get 70% Motae project shares from the [Government of Lesotho] and continue the first phase of its development" - it said in a statement Lucapa.
During the first three years of operation Lucapa plans to process about 2 million tonnes of predominantly weathered, near-surface kimberlite material in the first phase of the project development with the planned volume 720 000 tonnes per year.
As part of the trial mining company managed to produce more than 23 000 carats of rough diamonds, including stones weighing up to 254 carats, and some diamonds sold for $ 41,500 per carat.
Lucapa are, which also owns the Lulo project in Angola in January signed an agreement to acquire a 70 percent stake in Motae for $ 9 million.
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1 comment:

Pearl Necklace said...

Angola reported that its volume of diamond production could reach 8.96 million carats this year, compared to 8.8 million carats produced in the last year.
Agency Angop cites data from the documents of the Ministry of Geology and Mining of the country of production, according to which about 8.1 million carats of diamonds will be in industrial production, while the miners are expected to produce more than 860 000 carats of diamonds.
Meanwhile, the Ministry notes that last month 880,115 carats, sold for $ 104.7 million. Was produced in Angola
In November, the country produced 796,075 carats worth $ 99.2 million.
The bulk of the diamonds in Angola was produced mine Katoka (Catoca), 32.8% of which belong to the companies Endiama and Alrosa.
A joint venture between China and the Angolan state oil Sonangol EP owns 18 percent stake in the Catoca and Brazilian Odebrecht SA - 16,4%.