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9 Nov 2016 07:00
9 November 2016
DiamondCorp plc
AIM share code: DCP & JSE share code: DMC
ISIN: GB00B183ZC46
(Incorporated in England and Wales)
(Registration number 05400982)
(SA company registration number 2007/031444/10)
("DiamondCorp", "the Group" or "the Company")
FINANCING AND OPERATIONAL UPDATE
DiamondCorp, the Southern African diamond mining, development and exploration company, announces that, further to the Company's announcement of 20 October 2016, the second tranche of the financing facility from Rasmala plc (the "Facility"), in the gross amount of £300,000, is in the process of being drawn down by the Company.
Lace mine production continues in line with expectations, with the balance of the 5,000 carats of the Company's diamond inventory, against which the Facility is collateralised, expected to be processed by the end of the day shift today.
Production in the current month is on schedule to exceed 15,000 tonnes and the grade for the month of November to date is 29 carats per hundred tonnes.
Contact details:
DiamondCorp plc
Paul Loudon, Chief Executive
Tel: +27 56 216 1300
Chris Ellis, Interim Non-Executive Chairman
Tel: +44 (0) 20 3151 0970
UK Broker & Nomad
Panmure Gordon (UK) Limited
Adam James/ Atholl Tweedie
Tel: +44 20 7886 2500
JSE Designated Advisor
Sasfin Capital (a division of Sasfin Bank Limited)Megan Young
Tel: +27 11 445 8068
SA Corporate Advisor
Qinisele Resources Proprietary Limited
Dennis Tucker/Andrew Brady
Tel: +27 11 883 6358
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR").
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