Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

11 january 2021

Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

Ilgiz Fazulzyanov is a successful and internationally recognized jewellery designer. He received his academic art education in Kazan and moved to Moscow in the 1990s where he lives and works now. His brand, Ilgiz F., is well known among true connoisseurs...

04 january 2021

Botswana Diamonds keen to mine KX36 kimberlite if found commercial

Botswana Diamonds intends to mine the KX36 kimberlite, which it recently acquired from Petra Diamonds if found commercial. The high-grade KX36 kimberlite pipe is part of the three Prospecting Licenses in the Central Kalahari Game Reserve in Botswana...

28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

21 december 2020

An opportunity to show your products and occupy your niche

Recently, GOLDNET.MARKET, the first jewellery wholesale marketplace, appeared on the Russian jewellery market. Vladimir Pilyushin, one of the founders of GOLDNET.MARKET, editor-in-chief of the ‘Russkyi Yuvelir’ (Russian Jeweller) magazine...

14 december 2020

Lucapa Diamond defers repayment of $10m loan facility

01 june 2020

Lucapa Diamond has agreed with New Azilian, a company associated with non-executive director and major Lucapa shareholder Ross Stanley, to defer the repayment date in relation to the $10 million one-year loan facility.
It said in addition to the repayment date being deferred from 29 May 2020 to 31 August 2020, interest payments have been changed from quarterly to being payable at the termination date (effective from fourth quarter 2019) and the previous option to convert interest payments to Lucapa shares has also been removed.
No additional fees or penalties are payable by Lucapa under the amended agreement with New Azilian. 

Image credit: Lucapa Diamond

“We extend our sincere thanks and appreciation to New Azilian, Equigold, the Industrial Development Corporation of South Africa and all our shareholders for their continued support of Lucapa’s strategy during this challenging period,” said Lucapa managing director Stephen Wetherall.
Meanwhile, Lucapa has closed the non-renounceable pro-rata rights issue that entitles eligible shareholders to participate on a one for five basis with a free attaching option exercisable at $0.10 each. 
Lucapa intends to use the funds raised from the Rights Issue to advance the search for the primary kimberlite sources of the high-value Lulo alluvial diamonds, preserve mining assets suspended as a result of the COVID-19 pandemic and for general working capital purposes.

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