Panmure Gordon, a leading independent institutional stockbroker and investment bank, is pleased to advise that it has acted as nominated adviser and sole broker on behalf of DiamondCorp plc ("the Company"), the Southern African focussed diamond development, exploration and mining company, in placing 31,837,000 new ordinary shares to raise £3.2m gross as well as an oversubscribed open offer of 20,894,263 new ordinary shares to raise a further £2.1m gross.

Commenting on the Placing, DiamondCorp's CEO Paul Loudon said:

"I am delighted with the strong support we have received for the Company by existing and new shareholders and I look forward to updating the market on our operational developments as we ramp up to commercial production at the Lace Mine."

Commenting on the Open Offer, DiamondCorp's Chairman Euan Worthington said:

"The Board is very pleased at the high level of over-subscription for the Open Offer and that the majority of shareholders have been able to participate on the same terms as the recent Placing to institutions. We thank shareholders for their continuing support and look forward to an exciting future"