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River Diamonds

  • BY: Andrew Hore |
  • POSTED: 16/12/2007 |

River Diamonds is buying the rest of the Emperor gold mine for £29.56m in cash and shares.

The company will acquire the remaining 80% of Viso Gero International Inc, which itself will buy up the 6% minority interest it doesn‘t own in the Emperor gold mine in Fiji.

River Diamonds is raising £4.25m at 6p a share to finance the cash part of the deal and provide working capital. That is well above the current share price of 4.4p, which is treble the price a few months ago. At the beginning of October River Diamonds raised £3.75m at 1.5p a share.

The company will become a gold miner with a number of diamond interests. 

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