Multiplic has agreed to assist, on a best efforts basis, in the arrangement of financing totalling a minimum of $800,000 and a maximum of $1.32 million with a number of its clients. The financing will include either private placements of Glencairn shares at 55 cents or the sale of a portion of Glencairn’s Brazilian as sets, or a combination of the two.
The first year of alluvial diamond production from Feijao Cru property will be about 71,300 carats, the company said. The anticipated average production cost is estimated at $15.77 per cubic metre, and Multiplic says the average selling price of the diamonds will be about $125 per carat. Total reserve poten tial is re ported at 988,945 carats.
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