Lucapa Diamond says it has completed the issue of 204,7 million fully paid ordinary shares at an issue price of $0.05 per placement share as part of its efforts to raise about A$20 million.
The company said last May when it announced its acquisition of the Merlin Diamond Project, in Australia that it had received binding commitments from institutional and professional investors to raise A$20.0 million through a two tranche placement.
The first tranche of the placement was to raise A$9.8 million, while the just-concluded second one raised A$10.2 million.
Proceeds from the placement would be used to fund the acquisition, exploration programmes at Merlin, and the Lulo joint venture in Angola, as well as the feasibility studies and general working capital.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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