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BRIEF-Merlin Diamonds says financing to fund recommencement of Merlin diamond operation

Published 27/11/2015, 10:46 am
© Reuters.  BRIEF-Merlin Diamonds says financing to fund recommencement of Merlin diamond operation
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Nov 27 (Reuters) - Merlin Diamonds Ltd MED.AX :

* Financing to fund recommencement of Merlin diamond operation MED.AX

* Says company expects to complete refurbishment and recommission the Merlin processing plant in Q3 FY 2016

* Says proposes to raise up to $10 million through the issue unlisted debt notes (notes) to wholesale investors

* Financing is expected to provide adequate funding to recommence mining operations at Merlin diamond mine in northern territory

* Merlin will seek to raise a minimum of $7MLN under the note offer from institutional and wholesale investors

* Proceeds from the notes offer will support refurbishment and commissioning of the Merlin processing plant

* Source text for Eikon urn:newsml:reuters.com:*:nASXczGYM

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