In a week of dismal news from DiamondCorp, the company said a potential funder had withdrawn from talks because of the drop in its share price caused by a series of updates about the difficulties in bringing the new Lace diamond mine into commercial production.On Wednesday, DiamondCorp, which is developing an underground kimberlite mine near Kroonstad in the Free State, told the market it was in advanced talks to finalise a convertible debt facility for £500,000 "for immediate financial commitments in order to continue trading as a going concern in the very near term".However, on Friday, DiamondCorp said the steep fall in its share price this week had prompted the potential funder to terminate talks.DiamondCorp’s shares have fallen 60% in London in the past five days, bringing its decline for 2016 so far to 75%. It has a market capitalisation of £7.9m.In Johannesburg, the share fell 50% in the past five days to 42c and its loss in 2016 to date is 76%, giving it a R201m market capita...
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