sur Diamcor Mining Inc. (isin : CA2525312070)
Diamcor Mining Secures Term Loan to Boost Krone-Endora Project
Diamcor Mining Inc. has announced a term loan financing of up to CAD$1.5 million. The loan, priced at an annual 15% interest, is set to expedite processing at its Krone-Endora project. For every CAD$100,000 drawn, 150,000 common shares and 75,000 share purchase warrants are offered, exercisable at CAD$0.07 per share for 12 months.
The funds aim to enhance material processing at the Krone-Endora site, advance work programs, and prepare for bulk sampling to potentially expand the project. Diamcor views the diamond market as improving, with signs of recovery in 2025 following a downturn in 2024. Industry adjustments, sanctions on Russian diamonds, and campaigns by luxury retailers are seen as positive influences.
The loan, pending regulatory approval, will address short-term issues and support long-term growth amid a balanced inventory and potential reduction in global production.
R. E.
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