Pavel Sokolov: Every stone has its beauty

THE ‘GEMSTONES BY SOKOLOV’ brand has been popular for over 25 years. The aim of this company is to supply any kind of gem studs to the Russian market including the unique ones except diamonds of any cut. The product range by the SOKOLOV Company is very...

Today

“We are building a new state-of-the-art tender facility,” says Ahmed Bin Sulayem, Executive Chairman, DMCC

Ahmed Bin Sulayem certainly needs no introduction being widely popular globally as one of the leaders of modern Dubai. As the Executive Chairman of DMCC, Ahmed Bin Sulayem has played and continues to play a key role in establishing and positioning DMCC...

20 may 2019

De Beers scaling up Tracr ahead of formal launch

De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year. A De Beers spokesperson Bianca Ruakere told Rough & Polished in an exclusive interview that...

13 may 2019

The perfect couple - platinum and diamonds

The Jewelry House of Leon Megé located in New York has long been firmly established in the jewelry market as a source of magnificent jewelry, in which platinum and diamonds often sparkle being married together and attracting everyone’s eyes, but are...

06 may 2019

The technology of growing single-crystal diamonds has now become industrial in nature

It is believed that the reserves of natural diamonds will be exhausted by the middle of the century, and therefore production of synthetic diamonds is rapidly gaining relevance. According to Business Insider India’s estimates, the global synthetic diamond...

29 april 2019

Lucapa seeks approval to issue equity securities under 10% placement capacity

06 may 2019

news_02072018_lucapa.pngLucapa Diamond said it will, among other things, seek an approval from its shareholders to issue equity securities equal to 10% of its issued capital when it convenes an annual general meeting in May.
The company had a current market capitalisation of $84,3 million based on the number of shares on issue and the closing price of shares on the ASX on 12 April 2019. 
ASX Listing Rule 7.1A provides that an eligible entity may issue equity securities under the 10% placement capacity as cash consideration in which case the company intends to use funds raised to further its strategy of growing as a niche producer of high-quality diamonds. 
Funds raised could also be used to expand capacity at the producing mines at Lulo in Angola and Mothae in Lesotho as well as to further the kimberlite exploration activities at Lulo, advance the exploration programmes at Brooking in Western Australia and Orapa Area F in Botswana.
Meanwhile, any issue of equity securities under the 10% placement capacity will dilute the interests of shareholders who do not receive any shares under the issue.
Lucapa previously obtained the same approval from shareholders at its annual general meeting held on 24 May 2018.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished