DiamondCorp decided to terminate the formal process of selling its project Lace (Lace) in South Africa, and will continue to explore alternative means to enhance shareholder value in the normal course of business.
The company has entered into negotiations with a number of third parties and has received some tentative proposals for the purchase of assets.
However, in DiamondCorp said that the proposals received from the third parties, carried opportunist character and significantly undervalues the company.
DiamondCorp previously received a loan of £ 700,000 from the company Rasmala, a leading investment manager, who is also a shareholder of the company.
Funds received as part of credit will be used for the implementation of urgent financial obligations and to continue the diamond trade in the foreseeable future.
The company noted that the Lace mine, regardless of possible delays during its start-up still contains diamond resources in the order of 9.39 million carats at a market value of more than $ 1.5 billion.
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At the conclusion of the exhibition Signature IIJS 2016 finished its work February 8, 2016, there was a sense of confidence in the revival of the Indian jewelry industry, hit by the downturn in the global economy.
Exhibitors expressed their satisfaction with the good organization of the exhibition and requests from the business, which they have received during this four-day event.
Despite the current downturn in the market, the participants noted the high attendance at the exhibition, which far exceeded their initial expectations. In addition, contingent Signature IIJS visitors were serious buyers, not surprisingly, as the exhibition was able to interest them. For the majority of exhibitors Signature IIJS has always been a good place for business. And this year was no exception - though in smaller numbers, but clients that are configured for the purchase, crowded at the exhibition stands, especially where exhibited ornaments of gold and precious stones. Orders from retailers concerned mainly light weight jewelry, due to the conditions prevailing in the market.
As in the past, jewelry made of gold attracted the most buyers, which led to a huge volume of transactions in this type of jewelry, made within four days of the exhibition. Okay volume of transactions was also noted on loose diamonds and other precious stones.
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