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Lucara secures $50m to complete Botswana Diamond Project

Resource Investing News | July 8, 2011 | 9:56 pm Africa Diamond 

Mining Weekly reports Lucara Diamond Corporation (CVE:LUC) has raised $50-million in debt for two gem projects.

The market news is quoted as saying,

Lucara said it had concluded that the debenture, which matures at the end of 2013, provided the best value to shareholders.

The company will make quarterly repayments, and no interest is payable during the facility’s term, though Lucara will pay the lenders nine-million shares instead.

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