[miningmx.com] – DIAMONDCORP, the UK-listed firm which is re-developing the Free State province’s Lace diamond mine, said its first diamond sale was scheduled for October when underground development would yield “… a sufficiently representative parcel of kimberlite diamonds”.
Underground development at Lace was progressing slower than originally anticipated, as it progresses through fractured ground close to old workings, the company said. Full commercial production is expected in the fourth quarter of the 2015 calendar year.
The company reported a pre-tax interim loss of £3.2m which compares to a £2.7m loss in the first half of the previous financial year. It ended the period with cash of £1.9m, an amount that excludes the £2.1m from a recent capital raising.
