Diamond mining company goes into administration

Diamond mining company goes into administration

Australia's diamond industry future is described as "a long shot" as the Perth-based company behind the Northern Territory's Merlin diamond mine goes into administration.

The state government has announced a relief package for jewelers suffering economic contraction due to the continued long recession in the diamond industry. The Gujarat government has decided to give major relief to Surat's diamond industry. Millions of gem artists and thousands of small traders in Surat are currently in trouble due to the global recession. In view of this problem, a relief package has been prepared under the guidance of Chief M…

Lucara’s going concern status under scrutiny amid financing pressures

Sunday Standard Lucara’s going concern status under scrutiny amid financing pressures  Lucara Diamond Corp has raised fresh concerns about its ability to remain a going concern, as liquidity constraints and reduced revenue projections threaten the timeline of its flagship underground expansion project at the Karowe mine..ihc-locker-wrap{}There's more to this story But to keep reading, we need you to subscribe. Investigative journalism is an indi…

Lucapa Diamonds forced into administration as cash dwindles

LUCAPA Diamond’s current management has succumbed to years of poor diamond prices announcing on Friday administrators had been appointed to save the company. KordaMentha Restructuring, an advisor specialising in distressed companies, said it would undertake “an urgent assessment of the group and its operations ahead of a dual-track recapitalisation and sale process”. Shares in Lucapa will remain suspended on the Australian Securities Exchange. T…

Aldoro doubles size of Kameelburg with Phase I diamond drilling

Aldoro Resources Ltd (ASX:ARN) has seen the size of its Kameelburg rare earth and niobium discovery in Namibia double, with new results from its latest diamond drilling showing a notable south-west continuation. Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more. The focus was on two holes – DD004D and DD006 – which ended in mineralisation and w…