Kimberley Diamonds raises $4 million to partially pay debt
Monday, 27 June 2016 18:29
ASX-listed miner Kimberley Diamonds which operates the Lerala diamond mine in Botswana has raised $4 million to pay part of the $13 million it owes China-based auction house, Zhejiang Huitong Auction.
To mobilize these funds, the firm issued 40 million ordinary shares at $0.10 per share. It issued another 7 million shares to pay interests associated with the same debt.
Kimberley Diamonds on its fully owned Lerala project started in May diamond production after completing open-pit mining. Once in full production, the firm plans to process 1.4 million tons per annum average for an annual production of 357,000 ct.
Live News
-
Ethiopia’s state-owned telco explores deal with fiber provider Somcable to access global markets
17:27
-
Chad turns to Azerbaijan to strengthen digital governance and regulation
16:39
-
U.S., Togolese Lawmakers Discuss Formal Dialogue on Health, Food Security, Security
15:30
-
Gabon Launches Digital Skills Program for 1,000 Youths With U.S. Firm Cybastion
15:27
-
Somali Parliament Approves Cybersecurity Law Amid Rising Threats
15:23
-
Fintura Founder Bernice Houy Targets Efficiency in Accounting Firms
15:20
-
Nicolas van Zyl Rethinks Online Advertising With Social-First Formats
15:15
-
SOCAPALM Cuts Dibombari Estate by 23%, Returns 2,566 Hectares to State for Community Use
14:15
-
Togo’s Coffee, Cocoa Committee Urges “Shared Sacrifice” as Prices Plunge
12:49
-
Togo-India Trade Reaches $3.48 Billion in 2025
12:28
The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...
Circular migration is based on structured, value-added mobility between countries of origin and host...
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...
President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...
Ethio Telecom is seeking to expand digital services abroad through talks with Somaliland’s Somcable. The partnership focuses on cross-border...
Chad signed two digital cooperation agreements with Azerbaijani agencies. The deals target digital transformation, e-government, and sector...
Nigeria plans 12.4 billion naira fines over telecom service failures NCC tightens enforcement amid outages, rising consumer...
Côte d’Ivoire launches OIA Manioc to structure manioc sector Body targets governance, data, financing, quality standards rollout Sector backed...
The Khomani Cultural Landscape is a cultural site located in northern South Africa, in the Northern Cape province, near the Kgalagadi Transfrontier Park....
Three African productions secured places among the 22 films competing for the Golden Bear at the 76th Berlin International Film Festival. Berlinale...