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DiamondCorp

  • BY: Andrew Hore |
  • POSTED: 24/01/2013 |

DiamondCorp has the cash in place to begin construction of the Lace diamond mine in South Africa.

The mine will commence production in the third quarter of 2014 but revenues will be generated before this from the processing of the existing tailings. The full cost of getting the mine going will be around £20m. Further phases will cost more but this will expand the mine’s life to at least 25 years.

DiamondCorp is expected to make a pre-tax profit of £3.6m in 2015.

At 5.38p a share, DiamondCorp is valued at £14.8m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2013_40.pdf

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