Image credit: geralt (Pixabay)
The troubled Rockwell Diamonds is considering a transaction that will result in it delisting on the Johannesburg Stock Exchange (JSE).
The company remains suspended on the JSE.
Trading of Rockwell’s shares on JSE was suspended since March 26, 2017, amid financial difficulties of its South African subsidiaries namely Rockwell Resources RSA, HC van Wyk Diamonds and Saxendrift mine.
The company was delisted on the NEX, a separate board of the TSX Venture Exchange, on 1 April 2020.
Rockwell had been operating and developing alluvial diamond deposits in South Africa.
The company's investments and mineral property were de-consolidated due to a loss of control and value stemming from being in liquidation.
A South African judge issued an interim liquidation order in 2017 against Rockwell’s South African subsidiaries.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
