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Company Information for DiamondCorp Plc

Company stock charts - 6 Month chart

Exchange AIM; DCP


View full financial data

Company Statement

DiamondCorp plc is an emerging diamond producer focused on maximising shareholder value through the development of high margin diamond production assets.

The company is incorporated in the UK and its main country of operation is South Africa.

DiamondCorp's shares trade on the AIM Market of the London Stock Exchange and PLUS Markets under the symbol DCP.


Current Operations

Lace Project
The Lace project is located 20km from Kroonstad in the Free State Province of South Africa.

The project contains an estimated 14 million carats of diamonds in tailings and kimberlite. Additional kimberlites have been identified on the group's adjoining properties.

Phased development is being undertaken comprising initial tailings retreatment followed by mining of the remaining kimberlite, which has been drilled to a depth of 855m.

Lace Tailings Retreatment Project
Tailings treatment commenced with the commissioning of a 1.6 mtpa Dense Media Separation plant in 2007 with the intention of completing the treatment of 3.6 million tonnes of tailings within three years.

During the commissioning process and the three months following 320,045 tonnes of tailings were treated for the recovery of 25,266 carats of diamonds, representing 7.8cpht. These included a 17.72 carat stone and a 13.81 carat stone. The diamonds recovered from the tailings treatment operation are above world average in terms of colour and quality.

As a result an accelerated development plan for the underground project (Phase 2) has been formulated which aims to introduce kimberlite pipe material into the mine plan by the third quarter of 2008, almost a year ahead of the original schedule.

Lace Underground Project
The Lace kimberlites project involves re-establishing mining operations on the unmined portions of the Lace kimberlites.

The accelerated underground development plan (Phase 2) involves sinking a decline shaft into the unmined portion of the Lace satellite pipe, which was historically mined to a depth of only 50m.

Bulk testing, followed by trial underground mining of the satellite pipe kimberlite via the decline shaft, will be undertaken simultaneously with the refurbishment of the existing 360m-deep 6m by 2.7m vertical shaft which accesses the main Lace pipe.

It is estimated that the underground development plan has the potential to yield 13.7 million carats – more than 500,000 carats each year at peak production and with a 20-year mine life.


Geographical Spread

South Africa


Board of Directors and Key Management

Euan A. Worthington Non-Executive Chairman
Paul R. Loudon Managing Director & Chief Executive Officer
Nicholas Allen Non Executive Director
John C. Forrest Chief Financial Officer
Robin Henshall Non Executive Director
Dr Jonathan Willis-Richards Non Executive Director

Company Address

First Floor
Georgian House,
63 Coleman Street
London, EC2R 5BB

Telephone:+44 (0) 20 7256 2651
Facsimile:+44 (0) 20 7256 2666
Website:http://www.diamondcorp.plc.uk

Additional Address/Key Contact

Investors & media
Conduit PR
Jane Stacey/Jos Simson
+44 20 7429 6606/+44 7922 923 306

Capital

As of 24 October 2007 - Total shares in issue 34,770,408

Annual General Meeting

London

Year End

31 December

Nominated Brokers

Cenkos Securities Limited
6. 7. 8 Tokenhouse Yard
London EC2R 7AS

Nominated Advisors

Cenkos Securities Limited
6. 7. 8 Tokenhouse Yard
London EC2R 7AS

Major Shareholders

European Islamic Investment Bank Plc 10,720,555 26.1 0
MLP Investments (Caymans) Ltd 5,950,000 14.5 0
Integrated Core Strategies (Europe) S.a.r.l. 4,400,000 10.7 0
JPMorgan Asset Management U.K. Limited 3,505,000 8.5 155,000
Aktiva Holdings BV 3,375,000 8.20
Miramar Group SA 2,583,333 6.3 0
Dromen Securities Ltd. 2,200,000 5.4 0
Netcom Inc 1,833,333 4.5 0
Green Dragon Nominees Pty Limited 1,789,052 4.441,000
Loeb Aron & Company Limited 1,166,666 2.8 0

Related News

02/07/09 - Diamondcorp Looks To The Longer Term Upside, As Short Term Production Targets Slip Away
01/04/09 - Diamondcorp Moves To Within An Ace Of Production At The Lace Project In South Africa
28/01/09 - Even In The Face Of The Current Hostile Diamond Pricing Environment, Diamondcorp Is Fully Funded Through To Profitability
17/06/08 - Diamondcorp Could Be A Natural Bolt On Acquisition For Existing Producers
28/01/08 - Diamondcorp Survives Power Cuts and Lightning Strikes to Maintain Production

Most Recent Statement

30/03/09 - Operational Update - Crushing Circuit
05/02/09 - Grant of mining right
27/01/09 - Trading Statement
13/11/08 - Director/PDMR Shareholding
13/11/08 - New substantial shareholder
03/07/08 - MARKET UPDATE - JULY 2008

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