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Lucara raises C$38M for Karowe working capital

TSX and Stockholm-listed Lucara Diamond has agreed to raise C$38 million (US$30.8 million) in equity funding to support the ongoing development of its flagship Karowe diamond mine in Botswana.

Lucara raises C$38M for Karowe working capital Lucara raises C$38M for Karowe working capital Lucara raises C$38M for Karowe working capital Lucara raises C$38M for Karowe working capital Lucara raises C$38M for Karowe working capital

Lucara Diamond's Karowe open pit diamond mine in Botswana

The diamond producer will raise $22 million from a bought deal and $16 million via a private placement, both at C75c, an 10% discount to the company's closing share price on Thursday.