Earlier this month the company announced that the proceeds from the share issue will be mainly used for urgent financial needs for the mine Lace (Lace) in South Africa.
Also diamond company junior, is confronted with serious problems, announced the release of a total 3.15 million new ordinary shares with 3.15 million coupons to purchase one additional share. This was done to meet the requirements relating to certain arrears.
Completing the reception and placement of shares will come into force on Thursday.
After the issuance of shares and subject to the conclusion of an employment contract with the Association of Workers' and mine builders (Association of Mineworkers and Construction Union, AMCU) South Africa, the number of issued ordinary shares will be DiamondCorp 507.3 million.
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Russian multi-geological Holding, will work to find the root of diamond deposits in Ilim-Katanga district of the Irkutsk region. According to the company, the study will be carried out under the state contract for the federal budget. The customer is the Department of Mineral Resources of the Central Siberian district.
Holding experts initially analyze the study and prospecting there this area will appreciate the reliability of the available geological and geophysical and concentrate and mineralogical information and create on its basis the integrated electronic database. Then be performed auditing work on the comprehensive study and testing uneven clastic reservoirs minerals and diamond-satellites to determine the conditions of their formation. Deep geophysical and structural-tectonic zoning based on generalizations and target processing seismic data will be carried out, different scales of space and gravity and magnetic surveys, tectonic studies using new integrated data analysis technologies.
As a result, structural, mineralogical and geophysical elements will be identified - the background and features of objects grade kimberlite field and controlling their structures.
According to the results it will be performed prognostic evaluation of diamond Ilim-Katanga area with the release of promising targets and drawn up a set of specialized predictive maps of scale 1: 500 000 with a hole for the scale of 1: 200 000 in the most promising areas, which will also be evaluated prognostic resources of P3 category.
Geologists perform zoning in terms of doing the search work, and develop recommendations for the direction of further exploration. In addition, it will be prepared by the geological part of tender documents for the most promising areas in search of primary diamond deposits. Complete execution of a state contract is scheduled to end in 2017.
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