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Lace mine DiamondCorp 140
DiamondCorp Finally Runs Out of Fuel
DiamondCorp has officially entered administration, meaningcontrol of the miner is now in the hands of practitioners whose job is to tryand rescue the business or sell it off.Stephen Cork and Jo Milner of London-based advisory firmCork Gully are now the...
Mining May 11, 2017 Rapaport News
Lace Diamond Mine DiamondCorp
DiamondCorp Hands Control to Administrators
Junior miner DiamondCorp has turned to administrators after flooding at its Lace mine in South Africa last year forced it to shut down the operation. The board looked into all options to keep DiamondCorp afloat since...
Mining May 03, 2017 Rapaport News
Lace Diamond Mine DiamondCorp
DiamondCorp Agrees to Loan Deal
DiamondCorp has reached an agreement with one of its lenders,enabling the embattled company to secure a loan against its Lace mine in SouthAfrica as part of its business recovery efforts. Last month, the company attempted a sale of shares...
Mining Feb 28, 2017 Rapaport News
Lace Diamond Mine DiamondCorp
DiamondCorp Insolvency Hinges on Wage Deal
DiamondCorp warned it will likely enter insolvency proceedings unless an agreement is reached over retrenchment and payment of outstanding wages in relation to its Lace Mine in South Africa.The company therefore announced a share sale to fund the care...
Mining Jan 15, 2017 Rapaport News
Lace Diamond Mine DiamondCorp
DiamondCorp Rough Prices Lag Expectations
Troubled miner DiamondCorp reported a lower-than-expectedaverage price at its latest rough tender because of weaker demand for smallergoods and a shortage of higher-quality large stones.The miner sold 5,117 carats of rough diamonds for $590,745,or $115 per...
Mining Dec 12, 2016 Rapaport News
Lace Diamond Mine DiamondCorp
DiamondCorp Battles to Save Lace Mine
A business rescue practitioner has begun talks with stakeholders in the Lace Diamond Mine (LDM) as parent company DiamondCorp continues to assess the financial viability of the troubled South African operation. Daniel Terblanche, the appointed...
Mining Nov 30, 2016 Rapaport News
Lace Diamond Mine DiamondCorp
Lace Diamond Mines Put into ‘Business Rescue’
DiamondCorp subsidiary Lace Diamond Mines (LDM) has beenplaced into “business rescue,” after severe weather forced the company to haltproduction and request a suspension of its shares.DiamondCorp said November 14 it is consulting abusiness-rescue practitioner and on November...
Mining Nov 16, 2016 Rapaport News
Lace Diamond Mine DiamondCorp
Lace Diamond Mine Halted Due to Flooding
DiamondCorpsaid production at its Lace mine in South Africa will remain halted for morethan 12 weeks after torrential rain flooded the site, resulting in a suspensionof the company's shares in London and Johannesburg.Two extreme thunderstorms on November...
Mining Nov 14, 2016 Rapaport News
Lace mine
DiamondCorp No Longer Up For Sale
DiamondCorp shelved plans for a sale or merger, after rejectingoffers that it deemed undervalued the company.The company terminated a formal sale process after turningdown a cash takeover bid. The developmentcomes after DiamondCorp said last month...
Mining Nov 09, 2016 Rapaport News
Lace mine
DiamondCorp Up for Sale or Merger
DiamondCorp opened itself to a merger or takeover aftersaying the London-based company urgently needs about $615,623(GBP 500,000) to address immediate funding requirements.The board said the company should conduct a strategic reviewwhile continuing discussions to secure funding....
Mining Oct 19, 2016 Rapaport News
Lace mine
DiamondCorp Cuts Loss at Lace Mine
DiamondCorp’s pre-tax loss narrowed in the first half,but the company cautioned sales may lag in the coming months because ofoperational issues at its Lace mine in South Africa. The loss decreased to $328,000 (GBP 247,221)...
Mining Sep 13, 2016 Rapaport News
Lace mine
Operations Commence at Lace Diamond Mine
Mining resumedat DiamondCorp’s Lace mine in South Africa after operations were stopped whilegovernment investigated an incident that injured a worker.A miner'sassistant suffered contusions and four cracked ribs when explosive misfireswere being made safe....
Mining Jul 27, 2016 Rapaport News
Lace mine
Lace Run-of-Mine Diamonds Sold for $189/Ct.
DiamondCorp sold two batches of rough diamonds from its Lacemine for $436,597 (ZAR 6.5 million), with a parcel of run-of-mine diamondsfetching a record price.The 1,838 carats of run-of-mine goods sold for an averageof $189 per carat....
Mining Jun 14, 2016 Rapaport News
DiamondCorp Says Worst is Behind Rough Market
The rough diamondmarket has seen the worst of its troubles, according to DiamondCorp chairmanEuan Worthington.“Early indications in 2016 are thatthere has been some stabilization in prices for polished stones as inventoriesare being drawn,” said Worthington....
Mining May 05, 2016 Rapaport News
DiamondCorp Says $72K Profit From Sale of Two Diamonds Shows Beneficiation Works
DiamondCorp said the proceeds from a sale of two polisheddiamonds, which originated from a 22.1-carat rough stone, show beneficiation creates“significant additional value” for miners.The company sold the H-color rough – extracted from itsLace mine...
Mining Apr 21, 2016 Rapaport News
Lace mine
First Kimberlite Production from Lace Mine in 85 Years Yields $175/Ct.
DiamondCorp recorded a sale of kimberlite diamonds from its Lace mine in South Africa for the first time since 1931, achieving an average price of $175 per carat.The mining and exploration company sold 6,247 carats...
Mining Apr 06, 2016 Rapaport News
Lace mine
DiamondCorp Raises Pricing Forecast for Lace Mine
DiamondCorp forecast a value of $164 per carat in the current market for diamonds recoverable from its Lace mine in South Africa, an increase from $160 in March 2012.The price does not include values achieved from...
Mining Mar 03, 2016 Rapaport News
Lace mine
DiamondCorp on Schedule for Full Production at Lace-Mine Block in July
DiamondCorp said it is on schedule to achieve fullproduction at the Upper K4 block of the Lace diamond mine in South Africa byJuly as ramp-up from the block continues.Theconveyor-belt system commissioned in November is operating in accordance withits design specification. Mining of the...
Mining Jan 27, 2016 Rapaport News
DiamondCorp Raises $6M in Placement, Reschedules Loan
South African miner DiamondCorp has raised $6million (GBP 4 million) from a share placement, according to a statement December 3. The fundswill be used to finance the company’s production ramp-up through to it becomingcash flow positive from the third...
Financial-Legal Dec 06, 2015 Rapaport News
DiamondCorp Resumes Drilling at Lace Mine in South Africa
DiamondCorp resumedtunneling at its Lace mine in South Africa almost two weeks ahead of scheduleafter an earlier delay to drilling at the site.Developmentis focused on the high-grade K4 kimberlite, the miner said in a statementNovember 20. It follows successful installation of steel-arched...
Mining Nov 23, 2015 Rapaport News
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