Lucapa Diamond Company is set to generate AUD 1.6 billion ($1.14 billion) in sales from its newly acquired Merlin mine over 14 years, according to a recent study it conducted.The research showed the mine was capable of producing a total of 2.1 million carats of rough during that time using.
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Small cap mining duo launch raisings
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Listed resources outfits Lucapa Diamond Company and Mayur Resources both landed in front of small cap mining fund managers on Thursday morning seeking fresh funds.
There were a couple of mining companies seeking cash injections on Thursday.Â
Louise Kennerley
Diamond producer Lucapa had Ashanti Capital in its corner â with co-manager help from Foster Stockbroking â for a $17 million two tranche placement to buy another diamond project.
Shares in the offer were being sold to fund at 0.5¢ each, which represented a 9.1 per cent discount to the companyâs last close and a 19.5 per cent discount to its 30-day VWAP, according to terms sent to funds.