Diamondcorp financing and production on track

South African diamond miner DiamondCorp announced that the second tranche of financing facility from Rasmala amounting to £300,000 is in the process of being drawn down by the company.

The facility is collateralised against 5,000 carats of diamond inventory, which the group’s lace mine is expected to process by the end of the day.

In the current month production is on schedules to exceed 15,000 tonnes and the grade to date is 29 carats per hundred tonnes.

The share price fell 5.49% to 2.15p at 1202 GMT.