DiamondCorp Raises $6M For Lace Mine Work

Mining and Exploration
07/12/2015 07:34

DiamondCorp, which operates the Lace mine in South Africa, has raised £4 million ($6 million) from a share placement, the firm said in a statement. The money will be used to "fund production ramp-up through to becoming operationally cashflow positive from Q3 2016." The miner has faced problems at the Lace operation, with drilling being due to problematic ground conditions and consequent cash flow issues.