DiamondCorp reported that in addition to trying to get financing, it will conduct a wide-ranging review of its assets in South Africa for possible consolidation or sale.
DiamondCorp suspended last week because of a fire underground work in a diamond mine Lace (Lace) in South Africa, but diamond mining has recently been renewed.
The company said that it is looking for additional funding in the near future on the total amount of £ 500,000 to meet immediate financial obligations and to continue the diamond trade in the foreseeable future. However, a third party with which there was a preliminary agreement on the financing of the company, withdrew from the negotiations because of the fall in share prices miners.
The company plans 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 achieve positive cash flow from operations.
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Russian diamond group Alrosa Diamond Auction will hold the offices of his Israeli units Arcos Diamonds Israel Ltd. at the Israel Diamond Exchange (Israel Diamond Exchange, IDI) from 15 to 25 February.
A wide range of diamonds of all sizes will be presented on the diamond auction. Record participation in the tender is carried out through the company Arcos Diamonds Israel. Participation in the tender must be approved by the Moscow office of ALROSA.
"ALROSA" has created a subsidiary Arcos Diamond Israel Ltd for the sale of diamond products in Israel.
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