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DiamondCorp, Tiffany & Co Sign Loan and Supply Agreement
Jan. 07, 2013 04:52PM PST
Gem InvestingMining Weekly reported that DiamondCorp has legally signed an offtake agreement with Tiffany & Co on Monday for diamond production from the Lace mine in exchange for a $6M term loan from Tiffany.
Mining Weekly reported that DiamondCorp has legally signed an offtake agreement with Tiffany & Co on Monday for diamond production from the Lace mine in exchange for a $6M term loan from Tiffany.
As quoted in the market news:
“[The] signing of binding agreements with Tiffany finalises the Lace funding package and allows underground development to commence this month and tailings retreatment and diamond production to recommence by March,” said DiamondCorp CEO Paul Loudon in a statement.