DiamondCorp is opening itself for sale or a merger, according to the company. The London-based miner said it needed about $615,000 (GBP 500,000) to address immediate funding requirements.
It also said it’s looking to raise additional equity and/or debt from one or more parties of between $3 to 3.65 million in the near term to cover the anticipated cash required to fund operations, , according to Rough & Polished. DiamondCorp’s options include a “merger with or offer for the group by a third party or a sale of the group’s businesses,” according to the company.
The company’s underground operations at Lace mine were suspended last week due to a fire incident. Operations at the mine resumed this week.
