LONDON (Alliance News) - Shares in Golden Saint Resources Ltd shot higher on Tuesday after the company said it will not make any further drawdowns under its convertible bond deal with Darwin Strategic Ltd and said it will offer diamonds for sale via its Diamond Club.
Golden Saint shares doubled in price in early trade on Tuesday, up to 0.335 pence.
Golden Saint said it will not make any further drawdowns under its deal with Darwin, signed in October. The company owes GBP700,000 to Darwin under the deal and Golden Saint has agreed a small discount on any early repayment.
The company also said the 49 carats of gem quality diamonds cut and polished by Parikh Brothers in Mumbai have been sent back to Golden Saint's office in Perth, Australia and will be offered for sale soon via the Golden Saint Diamond Club.
The group also said the Dove explorer has arrived in its Tongo licence area and is expected to be operational by the middle of this month.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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