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Firestone Diamonds PLC Announces Placing To Raise Approximately USD6.0 Million


Tuesday, 16 Jul 2013 02:00am EDT 

Firestone Diamonds PLC announced a financing to raise approximately USD6.0 million (GBP3.97 million) before expenses which will be used for, among other things, working capital at the Company's flagship Liqhobong Diamond Mine (Liqhobong) in the Lesotho highlands (in which the Group has a 75% interest with the remaining interest held by the Lesotho Government). The Company has provisionally placed 198,500,000 new Ordinary Shares in the Company by way of a placing, through Mirabaud Securities LLP, and a direct subscription with institutional and other investors, including certain existing Shareholders at a price of GBP0.02 per Placing Share raising approximately USD6.0 million (GBP3.97 million) before expenses. The net proceeds of the Placing will be used for capital expenditure at the MTP, working capital for the pilot plant at Liqhobong, general working capital and other purposes including the Company's continued restructuring process and for the repayment of debt for the period to May 2014. 

Company Quote

38.75
0.0 +0.00%
11 Jul 2014