DiamondCorp has 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.
"We are pleased with the fact that we were able to receive this funding, which will enable us to maintain our operations at the diamond mine Lace (Lace) to the organization of the formal sale of raw materials and assessment of all the options available to us," - said General Director of DiamondCorp Pol Laudon (Paul Loudon) .
The parties have agreed on the division of financial installment into two parts.
The first part, which amounted to £ 400,000, will be issued once the diamond company, and the second part, or £ 300,000, will be given later.
The loan was issued under the provision of 5,000 carats of diamonds, which are in run-off company or will be produced as part of its operations.
Chairman DiamondCorp Euan Worthington (Euan Worthington), meanwhile, resigned his position, but he will remain temporarily in the state for a smooth transfer of the powers.
Director DiamondCorp non-executive Chris Ellis (Chris Ellis) will be appointed acting chairman of the company.
Companies need to raise additional capital and / or debt from one or more parties in the amount of £ 2.5 million - £ 3.0 million in the short term to meet the anticipated needs of the cash required to finance the operations up to industrial production and to achieve positive cash flow from operations.
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Kimberley Diamonds reported that operations at the open pit diamond mine Lera (Lerala) in Botswana will begin next month.
Kimberley, which provided contract mining company Basil Read Botswana, reported that diamond production will reach the projected level in June this year. In addition, at the same time on the project will be put into operation and processing plant species.
The company also noted that the value of the contract covering the first five years of production is about 47 million Australian dollars ($ 33.4 million).
"Basil Read will start mobilization of personnel and equipment for the diamond mine Lera in February 2016", - said in a statement Kimberley.
The designed capacity of the mine Lera production averages 357,000 carats per year.
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