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Namakwa's Tender Nets Nearly $2M
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Namakwa Diamonds sold 3,163 carats of rough diamonds for approximately $1.7 million, or $537 per carat. The tender was held in Kimberley, South Africa and consisted of production from the group's subsidiaries.Namakwa's chief executive,...
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Rough Markets
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Nov 27, 2012
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Jeff Miller
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Namakwa Diamonds Names New Executives
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Namakwa Diamonds named Craig Campbell its new chief financial officer and appointed him to the board, where he joins Melissa Sturgess, a non-executive chair person, Theo Botoulas, the company's chief executive, Martiens Mulder...
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Mining
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Sep 05, 2012
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Jeff Miller
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Namakwa Diamonds Tender Nets $4M
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Namakwa Diamonds closed its third sale of Kao rough diamonds in Antwerp, its eighth auction to date conducted by Fusion Alternatives, the tender partner of I Hennig & Co. All 51 lots offered, totaling 14,495 carats, were...
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Rough Markets
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Jul 24, 2012
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Jeff Miller
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Namakwa Names Botoulas as New Chief Executive
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Namakwa Diamonds' chief executive, Richard Collocott, has resigned and will be replaced by Theo Botoulas. The company did not provide a reason for Collocott's departure. Botoulas has more than 20 years experience in mining operations,...
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Mining
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Jul 03, 2012
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Jeff Miller
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Namakwa's Offering to Raise $55M
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Namakwa Diamonds expects to raise approximately $55 million after shareholders approved issuing more shares. Funds were expected to pay down debt and provide working capital. The diamond-mining junior expects to repay approximately $45 million in debt."During the first half of this year, we have been focused...
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Mining
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Jun 28, 2012
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Jeff Miller
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Rough Markets
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Apr 26, 2012
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Jeff Miller
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Jarvirne Increases Share in Namakwa to 32%
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Jarvirne Limited nearly tripled its stake in Namakwa Diamonds to 32.39 percent, according to the junior miner's filing with the London Stock Exchange. Jarvirne Limited is indirectly owned by Eduard Prutnik and holds 98,65,158 shares,...
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Mining
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Jan 20, 2012
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Jeff Miller
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Namakwa Sells $6M From Inventory During 1Q
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Namakwa Diamonds Limited issued an interim, first-quarter management statement for the three months that ended on November 30, 2011. Rough and polished diamond trading inventory sold at cost for $6.36 million. The mining company has drawn $25 million from a $40 million loan with...
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Mining
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Jan 12, 2012
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Jeff Miller
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Namakwa Sells DRC Assets for $6M
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Namakwa Diamonds sold its mining and exploration operations in the Democratic Republic of the Congo (DRC) as planned, on a "going concern basis" for $6.25 million. The sale was made to Hall Farm Avenue Ltd., the...
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Mining
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Sep 23, 2011
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Jeff Miller
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Namakwa Secures Funding, Shareholders to Vote on Share Issue
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Namakwa Diamonds entered into definitive agreements with Jarvirne Limited to secure a $40 million, two-year loan facility and refinance $19.5 million with respect to its Trading & Beneficiation Division by way of a share capitalization of 61,750,000...
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Financial-Legal
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Sep 08, 2011
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Jeff Miller
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Mining
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Sep 01, 2011
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Jeff Miller
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Namakwa Diamonds 1H Loss Unchanged at $12M
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Namakwa Diamonds Limited posted a pre-tax year on year loss of $11.9 million for the first fiscal half that ended February 28, which was unchanged from one year ago. Revenue rose 34 percent to $45.5 million. Mining division rough diamond production was up 111 percent and...
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Financial-Legal
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Apr 14, 2011
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Jeff Miller
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