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Africa|Botswana|Diamonds|Exploration|Gold|Industrial|Mining|PROJECT|Bearing
Africa|Botswana|Diamonds|Exploration|Gold|Industrial|Mining|PROJECT|Bearing
africa|botswana|diamonds|exploration|gold|industrial|mining|project|bearing

Lucapa debt free as of July 4

Lulo diamonds

Lulo diamonds

4th July 2023

By: Darren Parker

Creamer Media Contributing Editor Online

     

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ASX-listed Lucapa Diamond Company has fully repaid all interest-bearing loans that it borrowed from gold exploration and mining company Equigold and the Industrial Development Corporation of South Africa (IDC).

Lucapa has repaid the final instalment of $1.3-million in principal and interest on the original $15-million Equigold debt, which was raised in 2018.

In addition, Lucapa subsidiary Mothae Diamonds recently made its final interest payment of R7.3-million to the IDC, with the IDC loan now also fully repaid.

Lucapa is now interest-bearing debt free, having repaid about A$30-million in debt and interest over an 18-month period

The company said in a July 4 statement that it would seek to have all securities with respect to those loans released.

Lucapa owns the Lulo mine, in Angola, and the Mothae mine, in Lesotho, and is developing the Merlin project, in Australia. It also explores for diamonds in Australia, Angola, Botswana and Lesotho.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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