New African Mining AG
New African Mining: EUR 9.2 million financing round completed
New African Mining AG / Capital Increase Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- New African Mining raised approx. 9.2 million Euros through a capital increase. The funds will allow the company to develop its operations as planned and to continue the acquisition strategy in the near future. Zug/Switzerland, September 27, 2007 – New African Mining AG (WKN A0MSTM, ISIN CH0031078220) increased its share capital based on authorized capital by CHF 140’807.85 thru the issuance of 14’080’785 new shares with a nominal value of CHF 0.01 per share. Mainly institutional investors took part in this financing round and contributed to a cash injection of approx. 9.2 million Euros. Total shares outstanding are now 92’809’356. The funds will be used to start producing at New African Mining’s operations in South Africa and to acquiring additional economically attractive mines. Within the next three months, the recovery of diamonds from tailings dumps will commence at the Kamfersdam and Caravan Park sites in Kimberley. Further, the planned acquisition and re-opening of the Loxton mine is intended to be concluded no later than year end. Chairman David Hargreaves was pleased and said: 'With the successful completion of the capital increase, NAM finds itself in a favourable position to expand its businesses rapidly. We are convinced we should be able to implement our acquisitions strategy effectively and to form an attractive portfolio of diamond production units in the near future.' About New African Mining New African Mining (NAM), Zug/Switzerland, is in the business of mining and selling rough diamonds. NAM is structured as a holding company that owns and acquires dumps and mines through its wholly-owned subsidiaries. Up to date industrial mining techniques are being used. For further information please contact: Mail: info@newafricanmining.com Tel +41 44 500 54 17 27.09.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
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