RSS

River raises £1m for AIM

Article Date:  Aug 17 2004

As foreshadowed here last month, gem prospector River Diamonds has raised £1 million at 2.5p through broker WH Ireland and says it expects its shares to start trading on AIM on August 26, writes Robert Tyerman.

Floated on OFEX four years ago at 1p, River Diamonds has persisted with its Melgueira alluvial gem prospect in Brazil's Mato Grosso region in the face of a range of problems (including death threats from the son of a previous contractor). Production began recently and Colin Orr-Ewing, boss of River Diamonds, has said production there is scheduled to rise from 1,000 tonnes of gravel a day to more than 2,000 tonnes, with grades of between three and 11 carats per hundred tonnes and an estimated average value of $250 a carat.

River Diamonds, which has recruited ex-Firestone Diamonds project manager Kiran Marzaria to the board, is looking at a second Brazilian prospect at Cachouiera de Pau and formed influential local alliances alliances. At 2.7p, the shares could reward a brave punt.

This story is from Growth Company Investor, the independent voice on fast-growing companies. Subscribe today for the latest AIM recommendations.

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: Small-Cap Spotlight

Cyprotex broadens its scope

Bid candidate Cyprotex is moving its drug discovery services into toxicology after pre-tax profits down 15 per cent to £460,413.

Turnaround at TEG

Organic composting specialist TEG Group is pursuing long-term contracts after turning £1.6 million annual losses into £155,000 pre-tax profits.

Axiom taking developer to PLUS

Cretan Group, with ambitious tourism projects in Crete, is poised for an introduction to PLUS-quoted. 

Advertisement

Related articles

Small-caps under the microscope

Given the current economic uncertainties, it has never been more essential to rigorously quiz the management of companies in which you are considering investing. At our forthcoming Growth Company Investor Show, you will have the chance to examine them close up.

Mexican fillip for Elixir

Elixir Petroleum says gas production from Pompano in the Gulf of Mexico exceeds earlier expectations.

Maple raises £12.5m

Peru gas, oil and ethanol play Maple Energy has secured C$25 million (£12.83 million) at 160p to advance its projects.

Interim advance at Freshwater

Acquisitive public relations group Freshwater UK has increased first-half pre-tax profits 50 per cent to £460,000.

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

  • Pre-float £4m for Capital Pub

    David Bruce, who founded the Firkin pub chain, is currently raising £4 million for his latest venture, the Capital Pub Company, ahead of an AIM flotation later this year.

  • Gold cheer for BDI

    As foreshadowed here, BDI Mining Corporation has received high-grade gold assays from Woodlark Island in Papua New Guinea.

  • Hoodless planning to float?

    Robert Tyerman finds yet another company on the flotation trail.

  • The secrets of success

    The ability to lead an unstressful life are key characteristics of high-flyers, according to research from the Academy of High Achievers.

  • High stakes for Volga Gas

    AIM newcomer Volga Gas argues Russian pricing changes could help it unlock potentially massive reserves.

White Papers

12 Key Points to Consider When Selecting a Network Scanning Solution

Discover the 12 key points your company should consider before you evaluate and select a vulnerability assessment solution.

1Z0-040 Oracle Database 10G New Features for Administrators Practice Exam

Oracle 9i administrators can certify on Oracle 10G by passing this exam. The ExamForce 1Z0-040 Oracle Database 10G New Features for Administrators practice exam provides their unique triple testing mode to instantly set a baseline of your knowledge and focus your study where you need it most.

4 Ways to Unlock Your Employees' Performance Potential

Discover four proven ways you can tap into the full potential of every employee.

More