South Africa : Diamcor successfully raises C$5.82mln for Krone-Endora project
Friday, 02 September 2016 18:54
Diamond Mining (Diamcor) has successfully closed a private placement through which it raised C$5.82 million ($4,440,197).
To achieve this, the firm issued 4.54 million units at C$1.1 per unit thus making a total of C$5 million. In addition, 746,090 units were issued as part of an over-allotment option for a total of C$820,699.
While announcing the placement at the end of August, Diamcor said it would use its proceeds to buy additional work equipment and materials to advance Krone-Endora project, and also for general and administrative ends.
The Krone-Endora project includes exploration licences for Krone 104 and Endora 66, which cover around 5,888 ha contiguous with De Beers’ Venetia Diamond Mine in South Africa.
Live News
-
Togo Secures New $60.5M Disbursement from IMF
03:19
-
Talenteo Streamlines HR and Payroll for Algeria’s SMEs
18:53
-
Huawei contemplates phone factory for rural areas in Mozambique
18:24
-
With Zerone AnalytiQs, Abby A. Aidoo Expands Data Access in Africa
18:04
-
Djibouti Introduces Digital Code to Structure its Digital Ecosystem
17:57
-
Zambia Leverages Solar Energy to Ease Power Supply Issues in Mining Sector
17:52
-
Mauritania Secures $30 Million AfDB Funding to Boost SMEs, Employment
16:55
-
Social Media and Mental Health: Africa Faces New Challenges
15:25
-
Togolese Banks Boost Loans to CFA286 Billion, Up 19% in Q1
13:14
-
Togo’s Soybean Sector Targets 500,000 Tons Production by 2026
11:29
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Mozambican government and Huawei considering the construction of a local mobile phone factory catered to rural needs • Special features for rural...
• Djibouti adopts new digital code to accelerate digital transformation, with focus on data protection, cybersecurity, and e-commerce. • The move aligns...
• The African Development Bank (AfDB) has approved €25.5 million in funding to boost Mauritanian SMEs and stimulate inclusive growth.• Mauritania’s...
• Bassirou Diomaye Faye denounces credit rating agencies’ methodologies as ill-suited to African contexts.• Senegal urges reforms to enable fairer...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...