Amulet Diamond Corporation26 Nov 2018 17:19
On 19 July 2018 the Company agreed to subscribe for 35,519 common shares in Amulet Diamond Corporation at a subscription price of USD2.76 per common share. The Company further subscribed to USD401,961 of shareholder loans. These shareholder loans are unsecured, non-interest bearing and have no fixed maturity or repayment date. These loans must be repaid by Amulet Diamond Corporation before any distributions are made to common shares, including any dividend payment or return of capital.
Amulet Diamond Corporation holds an option to acquire 100% of a kimberlite mining operation and licence in Botswana. An existing processing plant is in place with 100tph capacity and a bulk sampling programme is planned for H2 2018. The resource is an open pit of up to 9MT of kimberlite and Amulet aims to produce 100kcpa with minimal further investment.