Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Kimberley Diamonds to Raise $10M, Resume Operations on Lerala

Aug 26, 2014 3:51 PM   By Jeff Miller
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Kimberley Diamonds announced a pro-rata non-renounceable rights issue offer of new shares at 19 cents each in an effort to raise $9.9 million. The funds raised, coupled with existing capital, will be used to recommission the Lerala diamond mine in Botswana and for general operating requirements. Eligible shareholders will be able to purchase  one new share for each two existing shares.

Kimberley Diamonds anticipates production from Lerala to be approximately 400,000 carats per year, increasing the company's potential rough diamond production to 700,000 carats annually. The mining company operates the Ellendale mine and Smoke Creek alluvial diamond mine in Australia as well as holds interests in the Slave and Superior Cratons projects in Northwest Territories of Canada. 

Tags: Diamond mining, Jeff Miller, Kimberley Diamonds, rights offering
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us