Namakwa Diamonds announce that it has secured $15 million in debt financing, at a fixed interest rate of 8.5% per cent per annum.



The diamond company's press release said it had secured the loan against certain assets of its Southern African Group, from a private investor committed to the growth of Namakwa.



Namakwa reserved the option to extend the term of the loan by six months at an increased rate of interest.



The diamond miner is currently in negotiations to secure additional banking facilities that will optimize its use of working capital.



Additionally, the Company is exploring opportunities to enter into a medium term bank facility of around $25 million to provide further capital for the development of current assets.