Thursday 23 November 2017

Desmond diamond company in €20m cash call

Nick Webb

Nick Webb

Dermot Desmond's Canadian diamond company Mountain Province has raised almost €20m from investors to fast-track the development of its mine in the icy tundra of northern Canada.

Shares in the Canadian-listed company have doubled since June, with a feasibility study suggesting the mine could contain €3.5bn worth of diamonds. Mr Desmond (above) has a 20 per cent stake worth €54m.

Sunday Independent

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