Live Breaking News & Updates on Teichmann Group To

 
Kareevlei Diamond Mine ( Kareevlei ) in the Kimberley region of
South Africa, is pleased to provide an update on corporate and operational activities.
 
·    Heads of Terms agreed with the Teichmann Group ( Teichmann ) for a
£1.61m loan note with the intention that this will be replaced by a convertible loan note ( CLN ), which will increase the aggregate shareholding of the Teichmann Group concert party to approximately 49% if converted (the Teichmann Financing )
·    Completed 80% of expansion project (the Project ) at Kareevlei, which is on track to be commissioned in July and is expected to increase annual revenue to circa
USD16m per annum
·    Ongoing review of the expansion of the Kareevlei operation including environmental and sustainability factors leading to increased upfront costs ....

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