DiamondCorp raises GBP 3.48mn for Botswana, South Africa projects.

By bne IntelliNews June 17, 2011
Diamond development and exploration company DiamondCorp said it had raised GBP 3.48mn through the placing of 26.7mn new ordinary shares at 13p apiece. The proceeds of the placing will be applied to the company's kimberlite exploration activities in Botswana and working capital for activities in South Africa, the company said in a statement. DiamondCorp's primary asset in South Africa is the Lace Diamond Mine, which is located some 200km south-west of Johannesburg. In Botswana, DiamondCorp has entered into an exploration joint venture with exploration company Geoperspectives Limited. The project covers PL71 totaling 30 sq km, containing five identified kimberlites.

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