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KCM

Posted: Tue, 05 May 2009

[miningmx.com] -- Kimberley Consolidated Mining (KCM) has taken steps to alleviate cash flow constraints, I-Net Bridge reported on Tuesday.

In a trading update, the company said that the continued and protracted global economic downturn and the negative effect it was having on the diamond industry, continued to have a negative effect on the company's results and cash flow.

"In order to alleviate the cash flow constraints, KCM has disposed of some of its movable assets, placed shares in terms of its general authority to issued shares for cash and has entered into negotiations with various parties in order to conclude a transaction that will strengthen its cash resources," the company stated.